In today's fast moving world, keeping informed on the public policies that impact your personal or work life is a daunting task. Fortunately, technology can aid in that effort and that is the ultimate purpose of Key Policy Data.
We accomplish this goal with the help of the innovative Qlikview data visualization and discovery program. Qlikview allows us to post huge amounts of data without sacrificing usability. For instance, our state and county tax burden app can quickly show you how your state's tax burden ranks and how it has changed over time with just a few clicks of a button.
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In Fiscal Year (FY) 2011, New Jersey collected $53.1 billion in state and local taxes. While this is an impressive sum of money, it tells us little about whether or not the average New Jersey taxpayer can afford this level of taxation.
As shown in the chart, New Jersey’s state and local tax burden (tax collections divided by personal income) was the seventh highest in the nation for FY 2011 at 11.6 percent—or 10.5 percent below the national average of 10.5 percent. Not surprisingly, the tax burden has grown significantly over time by 73.8 percent to 11.6 percent in FY 2011 from 6.7 percent in FY 1950.
New Jersey’s high tax burden is driven by the highest-in-the-nation property tax burden at 5.5 percent which is 60.4 percent above the national average (3.5 percent). New Jersey also has a higher-than-average individual income tax burden (2.3 percent, 22nd highest) and corporate income tax burden (0.5 percent, 10th highest).