Good Tax News For New Jersey Residents

All the news about taxes in New Jersey is not bad, especially when it comes to Garden State tax refunds.

When you think of taxes in New Jersey, you think about money coming out of your pocket, but that may not always be the case.

Good Tax New For New Jersey?

You may be surprised to find out that New Jersey is closer to the top of the list of states with the highest tax refunds than you may have originally thought.

It's no surprise to find out that when most New Jersey residents hear the word "tax" they think the worst, but a recent report might change that trend.

Read More: The Richest County In New Jersey

According to The Ascent, New Jersey ranks #14 on the list of states with the highest average tax refunds in America.

New Jersey Is Closer To The Top Spot Than You Might Think

According to the data, New Jersey's average tax refund for 2022 was $1595.18, putting it within approximately $200 of the refund enjoyed by the state that ranked #1.

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The gap between the top state, Florida, with an average tax return of $1793.80, and the bottom state, Oregon ($1328.82) might be smaller than you would have guessed.

Remember, this is not money being handed over to you by the government. It's simply the amount of money you overpaid in taxes that year, meaning states with lower refunds might just have better accountants.

Some people do treat the tax refund like a bit of a bank account that just appears after tax season, and while not all financial planners might agree with the philosophy, getting a chunk of money back is certainly a good feeling.