“A nice 4 bd 2.5 bath on 1/3 acre will run you $25k/year in prop taxes anywhere in NJ above 195...”
Well for all of you here who delight in trashing California. Our home is 4,000sf, on 1.5 acres (a hilltop actually), built in 1984 at a total cost of $325k. Today, thanks to Proposition 13, our property taxes are now $7k/year, and the home is worth $2.5 million. As we are semi-retired, we could not have stayed here without Prop 13! At least California isn’t throwing it’s senior citizens out of the homes they worked their lifetimes to acquire.
There are a lot of states with influx from the northeast or from California that had better enact something similar, otherwise property taxes will go through the roof eventually in these states, too, mine being one of them. It’s going to be a little tougher to pull off here, though, since residential property tax is levied at the county level rather than the state.