Wednesday, August 21, 2013 1:49 pm
NJ shore mayor priced out by local property taxes
The Associated Press
Egg Harbor Mayor James "Sonny" McCullough has lived in the township's Seaview Harbor section since 1974. He and his wife bought land and built their home for $360,000 in 1985.
The property was valued at slightly more than $1.1 million during last year's township-wide revaluation, which increased his property taxes nearly 60 percent to $31,056.
The 71-year-old mayor tells The Press of Atlantic City ( http://bit.ly/16JC6y8) he thought he'd be able to live and die in his home.
McCullough says he hopes to find another home in the township. But if he doesn't, the couple purchased a $150,000 waterfront condominium in Florida, where the property taxes are $2,569.
New Jersey has the highest property taxes in the nation. Last year the average bill, before any tax credits, was close to $8,000.
The biggest share of property taxes is used to pay for local schools.