Truth in Accounting

New Jersey

TIA Data

2022 Financial State of New Jersey (Released 10/11/2023)

Use Create Your Own State Chart to see additional financial, demographic and economic data for this and other states

 
New Jersey owes more than it owns.
New Jersey's Taxpayer Burden™ is -$53,600, and it received an "F" from TIA.
New Jersey is a Sinkhole State without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
New Jersey only has $48.7 billion of assets available to pay bills totaling $227.9 billion.
Because New Jersey doesn't have enough money to pay its bills, it has a -$179.2 billion financial hole. To fill it, each New Jersey taxpayer would have to send -$53,600 to the state.
New Jersey's reported net position is understated by $32.7 billion, largely because the state delays recognizing gains resulting from decreases in retirement liabilities.
The state's financial report was released 284 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2021 Financial State of New Jersey

2020 Financial State of New Jersey

2019 Financial State of New Jersey

2018 Financial State of New Jersey

2017 Financial State of New Jersey

2016 Financial State of New Jersey

2015 Financial State of New Jersey

2014 Financial State of New Jersey

2013 Financial State of New Jersey

2012 Financial State of New Jersey

2011 Financial State of New Jersey

2010 Financial State of New Jersey

2009 Financial State of New Jersey

Other Resources

New Jersey Annual Comprehensive Financial Reports

Publishing Entity: Department of the Treasury: Office of Management and Budget

IN THE NEWS
New Jersey Rated One of the Most Fiscally Unsound States in America

AUGUST 7, 2024 | 97.3 ESPN | by Josh Hennig

While New Jersey has amazing beaches, farm fresh fruits and vegetables, along with great craft breweries and wineries, this is an expensive state to live in. New Jersey is home to the third-most Household Expenses in the United States.

According to research by the non-profit organization Truth In Accounting, New Jersey has been one of the worst fiscal states in America over the last 10 years.

 

COMPARE THIS DATA WITH OTHER STATES    VIEW MORE CHART TOOLS

VIEW LESS