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Property taxes are collected by the municipality. Not the state. Comparing Cranbury, NJ (where I have investment property) and Pueblo, CO (where the OP seems to be from), here's the breakdown:
Cranbury, NJ property tax: 1.7%
Pueblo, CO property tax: 0.7%
Cranbury, NJ city sales tax: 0%
Pueblo, CO city sales tax: 3.7%
Pueblo, CO gets money through additional forms of taxes that are not represented in property taxes. You can't compare two locations by just looking at one set of taxes. This is a failure on the OP's part.
Additionally, most people are not living in $10 million mansions in NJ.
Thanks to property taxation, we are all just renters. And the rent in NJ is high. Hope the view is good.
My real estate and property taxes in my home back in PA which I still own have gone up way past the rate of inflation over the 23 years I've owned it. The Northeast s*cks.
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