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Cape May
Cape May
New Jersey
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Cape May is a city at the southern tip of Cape May Peninsula in Cape May County, New Jersey, where the Delaware Bay meets the Atlantic Ocean. One of the country's oldest vacation resort destinations, it is part of the Ocean City Metropolitan Statistical Area. As of the 2010 United States Census, the city had a year-round population of 3,607, reflecting a decline of 427 (-10.6%) from the 4,034 counted in the 2000 Census, which had in turn declined by 634 (-13.6%) from the 4,668 counted in the 1990 Census. In the summer, Cape May's population is expanded by as many as 40,000 to 50,000 visitors. The entire city of Cape May is designated the Cape May Historic District, a National Historic Landmark due to its concentration of Victorian buildings. Cape May was recognized as one of America's top 10 beaches by the Travel Channel and its beach was ranked fifth in New Jersey in the 2008 Top 10 Beaches Contest sponsored by the New Jersey Marine Sciences Consortium. It is also known as one of the best beaches on the Middle Atlantic coast.

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Taxes

C

How did New Jersey earn the grade of C? We examined the state taxes based on how age friendly they are. New Jersey has a state sales tax of 6.63%. Of particular interest is that New Jersey does not have taxes on social security. There are estate taxes. There are taxes imposed on inheritance. New Jersey has an effective property tax rate of 2.40%. Weighing these taxes and other taxes most likely to impact the aging population is how New Jersey earned its state tax grade of C.

Learn more about taxes in New Jersey

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