New Jersey's property taxes have jumped 66% since 2001

New Jersey's property taxes, the highest in the nation, have increased 66% since 2001, when they averaged $4,661, data posted on a state website show. Property taxes climbed 2.4% last year on average to a high of $7,759, according to the site. The gain follows a 4.1% jump in real estate taxes, the prime funding source for schools and local governments, in 2010. After property tax rebates and credits, the average bill was $7,519 last year, up 20% from 2009, the data show. Gov. Chris Christie, a Republican who took office in January 2010, scaled back property tax rebates in his first budget. He also enacted a 2% cap on the levies that took effect at the beginning of last year. Mr. Christie's measure reduced the 4% limit enacted by his predecessor, Democrat Jon Corzine. It also cut the number of exemptions to four, from 14. Under the Corzine system, towns sought to cap waivers from the state's Local Finance Board. Mr. Christie's measure requires a voter referendum. In April, 14 of 566 communities asked voters to exceed the cap, but just two increases were approved. Lisa Ryan, a spokeswoman for the state Community Affairs Department, which tracks the property tax data, declined to comment on the figures. The 2.4% increase last year was the smallest in at least a decade. Property taxes increased about 7% annually in 2004, 2005 and 2006, before the rate began to slow. Mr. Christie is proposing a 10% income tax cut, while Democratic lawmakers said that they want to relieve pressure from property taxes.