Yeah this is very market dependent, especially with regard to whether there are state/local income taxes or the government depends mostly on property taxes. Here in NYC I’d expect to pay $10k or less in annual taxes for a property in that price range, however there are city and state income taxes plus apartment building building common charges.
It’s hard to compare this stuff apples to apples, but the one constant regardless of locality is that higher rates significantly reduce buying power for people relying on mortgages.
NJ and NY both have some pretty wide ranges of property taxes from town to town, county to county, not just because the percentages might be a bit different, but because their valuation systems are wildly confusing and inconsistent.
Where do you live in NJ? The average effective property tax rate is 2.470% of the home value. Property taxes would be ~$38k in Gloucester county(across the river from Philly).
