Residents of Hunterdon County, a suburban area in western New Jersey, are among the wealthiest Americans. Median household income is $102,500, almost double the $51,500 national figure, according to U.S. Census Bureau estimates. Equestrian estates and single-family homes on several acres can be found in areas including Tewksbury, Raritan, and Delaware Township. Charming, indeed. But living there is not cheap. Hunterdon County residents pay a median $8,216 in residential property tax per year. That's more than any other county in the U.S., according to Washington-based think tank the Tax Foundation
, which cites U.S. Census Bureau estimates from 2005 to 2009. (One-year data from 2009 show Hunterdon ranked fourth after New York's Westchester County and Nassau County, and New Jersey's Bergen County.) Property taxes in Hunterdon County represent a larger share of household income, at 7.3 percent, than the average national rate of 2.81 percent. Overall, New Jersey residents pay the nation's highest proportion of income in state and local taxes in the nation—12.2 percent of income, followed by residents in New York and Connecticut, reported Bloomberg News
. Property taxes are the sole major revenue source that grew in 2009, increasing by 10.9 percent year-on-year, despite a drop in home values nationwide, reported the Tax Foundation.
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