The sobering fact is that New Jersey's tax climate is much less attractive than the one you are accustomed to in Colorado. This is likely to be true for you in terms of income taxes - in that Colorado has a flat 4.63% rate based on Federal income while New Jersey has a graduated tax rate - as well as most other taxes. And sales tax in New Jersey (mostly 7% but 3.5% in designated municipalities) is higher than in Colorado (2.9%).
Property taxes in New Jersey are the highest among all the states in the country (as measured by percent of home value paid for median home value in the state). Since Colorado is in the bottom expense quartile among states with respect to property taxes, I can understand your shell shock. Or put another way, property taxes in New Jersey work out to about $2,645 per capita vs. $1,722 in Colorado.
While we are on the subject of sobering tax news, Camden County has the 24th highest property taxes among the 2,922 counties in the United States. But don't be fooled by real estate agents who (like mine did when I moved here from out of state) might tell you that property taxes are lower in neighboring Burlington County - Burlington County's property taxes are the 23rd highest among the 2,922 counties.
So the tax climate is a drawback to New Jersey relative to Colorado. But, believe it or not, there are benefits to living in New Jersey too!
If I might be of help to you in making your relocation go smoothly from a real estate perspective, please feel free to contract me.
Jonathan E. Brill, Ph.D.
Keller Williams Realty
Beowulf Plaza, Suite 200
1814 Route 70 East
Cherry Hill, New Jersey 08003
GET THE RESULTS YOU DESERVE.
Put my Ph.D. in Marketing and Wharton School
business education to work for you!
Main Office: 856.321.1212
Office Fax: 856.321.1414
Direct Line: 856.685.1956