Aging and moving out of NJ

If you’re in your pre-retirement years and thinking about moving out of New Jersey, you’ve got plenty of company.

AARP has come out with a new survey that further underscores that New Jersey is a less than desirable place to retire due to the crippling cost of living and the highest property taxes in the nation.

Nearly half of all voters aged 50 and over have considered leaving and 83% of them say they are likely to do so.

Taken in raw numbers, this represents about 900,000 inhabitants, or almost 10% of the total population of the state.

All of the top reasons cited relate to affordability in New Jersey.

38% of older voters polled by AARP said property taxes were the biggest financial strain on a monthly basis, followed by utilities, groceries and health insurance.

There were few differences when the survey was divided into political affiliation.

Slightly fewer Democrats (71%) than Republicans (83%) think they already pay more than their “fair share” of taxes.

AARP is using the survey data to again implore Governor Phil Murphy and the Legislature to enact policies that will make New Jersey more affordable for pre-retirees and retirees.

Among the changes they suggest to reduce the financial burden of property taxes include changing New Jersey’s senior freeze program to a credit, expanding the eligibility requirements for the Homestead Benefit, and creating a Circuit Breaker property tax relief program.

Eric Scott is the senior policy director and anchor of New Jersey 101.5. You can reach him at [email protected]

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