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Saturday, November 23, 2024

New Jersey collected $5 million in property tax revenue in Q4 2022

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Marita R. Sciarrotta Acting Director Divison of Taxation at New Jersey Division of Taxation | New Jersey Division of Taxation

Marita R. Sciarrotta Acting Director Divison of Taxation at New Jersey Division of Taxation | New Jersey Division of Taxation

New Jersey collected $5 million in property taxes during the fourth quarter of 2022, after no property tax was collected in the third quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Overall, New Jersey collected $11.4 billion in combined tax revenues in the the fourth quarter of 2022, an increase from the $9 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q4 2022 New Jersey Tax Collections
Type of TaxAmount (millions)
Property Taxes$5
Sales and Gross Receipts Taxes$4,457
Income Taxes$5,841
License Taxes$608
Other Taxes$478
Source: U.S. Census Bureau

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