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Franklin Lakes
Franklin Lakes
New Jersey
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Franklin Lakes is a borough in Bergen County, New Jersey, United States. As of the 2010 census, the borough's population was 10,590, reflecting an increase of 168 (+1.6%) from the 10,422 counted in the 2000 Census, which had in turn increased by 549 (+5.6%) from the 9,873 counted in the 1990 Census. As of the 2000 Census, Franklin Lakes had the 18th-highest per-capita income of all 566 municipalities in the state. Nationwide, Franklin Lakes ranked 17th among the highest-income places in the United States with a population of at least 10,000. Becton Dickinson, a Fortune 500 company, is headquartered in Franklin Lakes. Franklin Lakes was formed by an act of the New Jersey Legislature on March 11, 1922, from portions of Franklin Township, based on the results of a referendum held on April 11, 1922. The borough was named for William Franklin, the illegitimate son of Benjamin Franklin, a steadfast Loyalist who served as the last colonial Governor of New Jersey.In 2010, Forbes.com listed Franklin Lakes as 146th in its listing of "America's Most Expensive ZIP Codes", with a median home price of $1,306,546.

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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.

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