question archive What are the factors affecting the high taxes in New Jersey?
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What are the factors affecting the high taxes in New Jersey?
The primary factor that has impacted the need for high taxes in New Jersey are the shortfall in the state budget for desired expenditures. These shortfalls have caused New Jersey politicians to determine that they need to increase the tax rate, from both an income level to a property tax level. It appears that first budget gap occurred in 1975 when the governor of New Jersey wanted to refinance New Jersey's public schools. The new package would require an increase in taxes. Since then, New Jersey has had to have a high tax rate to cover for the shortfall in the state budget.