My son just moved from New Jersey to Maryland for job reasons. The taxes on his $300,000 house in New Jersey were $14,800 per year. When they moved there in 2012 they were ~$&,000. The taxes on his $520,000 house in Maryland are $7,740 a year. The population of New Jersey is ~8.7 million people the population of Maryland is ~6.0 million people. Why such a drastic difference in tax amounts? He’s actually only paying about $300 more per month for a nicer, bigger, newer house with more property that cost him $220,000 more? What is New Jersey doing with all that property tax $$$?
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Ha!!! Did the same math for a couple of my friends one them lives in Oswego IL and the other Valparaiso IN. Sim demos similar school ratings 15K+ taxes for a 300k house in IL and 6K taxes for a 600K house in IN. Where does the money go? It's call money laundering, plain and simple. And that's only property taxes.