New Jersey Fiscal Statistics

StatisNostics/State Financials/New Jersey

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20122022

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State Revenue Analysis (New Jersey: 2012–2022)

Population: 8,876,000 → 8,882,371 (0.1% change)

Overall Revenue Trends

Total Revenue▲ 76.9%

$56,646,748,000 (2012)→$100,190,433,000 (2022)

Per Capita Revenue▲ 76.7%

$6,382 (2012)→$11,280 (2022)

Fund Balances▼ 100%

$36,088,851,000 (2012)→$0 (2022)

Revenue Volatility✓ Low

Avg. fluctuation: 6.6%

Major Tax Revenue

Property Tax▼ 10.3%

$5,650,000 (2012)→$5,068,000 (2022)

Sales Tax▲ 75%

$8,099,549,000 (2012)→$14,178,031,000 (2022)

Utility Revenue

Water Utilities▼ 1.9%

$42,872,000 (2012)→$42,076,000 (2022)

Sewerage Charges▼ 5.9%

$7,024,000 (2012)→$6,608,000 (2022)

Solid Waste Charges▼ 94.3%

$40,588,000 (2012)→$2,331,000 (2022)

Growth Analysis

Fastest Growing Revenue Sources

Other In Trust - Interest Revenue▲ 6877.3%

$260,000→$18,141,000

Federal Intergovernmental Public Welfare▲ 2385.0%

$588,269,000→$14,618,388,000

Local Intergovernmental Other▲ 711.6%

$26,445,000→$214,619,000

Declining/Slowest Growing Sources

Federal Intergovernmental Sewerage▼ 99.5%

$35,580,000→$171,000

Elementary Secondary Education School Lunch Charges▼ 97.6%

$5,838,000→$141,000

Solid Waste Charges▼ 94.3%

$40,588,000→$2,331,000

Revenue Forecast

Projected Revenue (Next Year)▲ 15.4%

Estimated: $115,621,673,484

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Individual Income Tax19.6%

Total General Sales Taxes14.3%

Federal Intergovernmental Health & Hospitals12.7%

Unemployment - Contribution5.2%

Miscellaneous General Revenue Not Elsewhere Classified4.1%

Federal Intergovernmental Education3.4%

Corporation Net Income Tax3.4%

Federal Intergovernmental Other3.3%

Higher Education Tuition Charges3.1%

Interest Earnings2.0%

Toll Highway Charges2.0%

Transit Utilities Revenue1.7%

Public Utilities Tax1.7%

Net Lottery Revenue1.7%

Hospital Charges1.6%

Federal Intergovernmental Highways1.6%

Tobacco Sales Tax1.4%

Other Selective Sales Taxes1.3%

All Other Not Elsewhere Classified Charges1.2%

Death & Gift Tax1.1%

Motor Vehicle License1.1%

Federal Intergovernmental Public Welfare1.0%

Federal Intergovernmental Housing & Community Development1.0%

Higher Education Auxiliary Charges1.0%

Motor Fuels Sales Tax1.0%

Insurance Premium Tax0.9%

Occupation & Business License Not Elsewhere Classified0.8%

Other In Trust - Other Contributions0.8%

Federal Intergovernmental Transit Utilities0.6%

Documentary & Stock Transfer Tax0.6%

Local Intergovernmental Education0.5%

Amusement Tax0.4%

Donations From Private Sources0.4%

Corporation License Tax0.4%

Workers Compensation - Other Contributions0.3%

Federal Intergovernmental Employment Security Administration0.3%

Local Intergovernmental Highways0.3%

Parks & Recreation Charges0.3%

Fines & Forfeits0.3%

Alcoholic Beverage Sales Tax0.2%

Federal Intergovernmental Other Natural Resources0.2%

Local Intergovernmental Health & Hospitals0.1%

Local Intergovernmental Transit Utilities0.1%

Amusement License Tax0.1%

Motor Vehicle Operators License0.1%

Education Other State Charges Not Elsewhere Classified0.1%

Water Utilities Revenue0.1%

Solid Waste Charges0.1%

Federal Intergovernmental Sewerage0.1%

Housing & Community Development Charges0.1%

Workers Compensation - Interest Earnings0.1%

Local Intergovernmental Other0.0%

Federal Intergovernmental Water Utilities0.0%

Water Transportation & Terminal Charges0.0%

Hunting & Fishing License0.0%

Air Transportation Charges0.0%

Public Utility License Tax0.0%

Sewerage Charges0.0%

Elementary Secondary Education School Lunch Charges0.0%

Property Tax0.0%

Natural Resources Not Elsewhere Classified Charges0.0%

Alcoholic Beverage License Tax0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Rents0.0%

Other License Tax0.0%

Regular Highway Charges0.0%

Elementary Secondary Education Tuition and Transportation Charges0.0%

Royalties0.0%

Federal Intergovernmental Air Transportation0.0%

Local Intergovernmental Public Welfare0.0%

Other In Trust - Interest Revenue0.0%

Sale of Property0.0%

2022 Revenue Breakdown

Individual Income Tax20.6%

Federal Intergovernmental Public Welfare14.6%

Total General Sales Taxes14.2%

Corporation Net Income Tax8.6%

Federal Intergovernmental Health & Hospitals5.2%

Federal Intergovernmental Other4.1%

Miscellaneous General Revenue Not Elsewhere Classified3.1%

Federal Intergovernmental Education2.7%

Unemployment - Contribution2.6%

Higher Education Tuition Charges2.4%

Toll Highway Charges2.3%

Other Selective Sales Taxes2.3%

Interest Earnings1.5%

All Other Not Elsewhere Classified Charges1.4%

Net Lottery Revenue1.2%

Federal Intergovernmental Highways1.0%

Public Utilities Tax0.9%

Documentary & Stock Transfer Tax0.9%

Hospital Charges0.9%

Insurance Premium Tax0.7%

Corporation License Tax0.7%

Motor Vehicle License0.7%

Occupation & Business License Not Elsewhere Classified0.6%

Transit Utilities Revenue0.6%

Death & Gift Tax0.6%

Tobacco Sales Tax0.6%

Higher Education Auxiliary Charges0.5%

Other In Trust - Other Contributions0.5%

Motor Fuels Sales Tax0.4%

Amusement Tax0.4%

Local Intergovernmental Education0.4%

Federal Intergovernmental Housing & Community Development0.4%

Local Intergovernmental Highways0.3%

Federal Intergovernmental Employment Security Administration0.3%

Donations From Private Sources0.2%

Workers Compensation - Other Contributions0.2%

Local Intergovernmental Other0.2%

Alcoholic Beverage Sales Tax0.2%

Fines & Forfeits0.1%

Local Intergovernmental Health & Hospitals0.1%

Motor Vehicle Operators License0.1%

Amusement License Tax0.1%

Housing & Community Development Charges0.0%

Federal Intergovernmental Other Natural Resources0.0%

Water Utilities Revenue0.0%

Parks & Recreation Charges0.0%

Water Transportation & Terminal Charges0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Public Utility License Tax0.0%

Other In Trust - Interest Revenue0.0%

Air Transportation Charges0.0%

Hunting & Fishing License0.0%

Sewerage Charges0.0%

Workers Compensation - Interest Earnings0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Property Tax0.0%

Natural Resources Not Elsewhere Classified Charges0.0%

Alcoholic Beverage License Tax0.0%

Rents0.0%

Solid Waste Charges0.0%

Other License Tax0.0%

Federal Intergovernmental Air Transportation0.0%

Royalties0.0%

Unemployment - Interest Revenue0.0%

Federal Intergovernmental Sewerage0.0%

Elementary Secondary Education School Lunch Charges0.0%

Regular Highway Charges0.0%

Elementary Secondary Education Tuition and Transportation Charges0.0%

Key Insights

1Total revenue increased by 76.9% from 2012 to 2022, representing a significant change in the state's financial position.
2Population changed by 0.1%, while per-capita revenue changed by 76.7%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (New Jersey: 2012 - 2022)

Total Expenditure Trends

Operating Expenditures▲ 177%

$22,687,272,000→$62,771,442,000

Per Capita Spending▲ 176%

$2,556→$7,067

Population Trends

Population Change▲ 0.1%

8,876,000 (2012)→8,882,371 (2022)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 97%

$600,500,000 (2012)→$1,180,779,000 (2022)

Fire Protection▼ 0%

$0 (2012)→$0 (2022)

Infrastructure Expenses

Highways Maintenance▲ 56%

$166,805,000 (2012)→$260,759,000 (2022)

Sewerage Operations▼ 23%

$16,351,000 (2012)→$12,665,000 (2022)

Administrative Expenses

Financial Administration▲ 319%

$965,154,000 (2012)→$4,039,406,000 (2022)

General Expenses▲ 276%

$1,297,252,000 (2012)→$4,883,525,000 (2022)

New Jersey Key Insights

1Per capita expenditures grew by 176%, indicating substantial service expansion or cost increases not explained by population growth alone
2General expenses increased dramatically by 276%, which may indicate classification changes, new initiatives, or reporting adjustments
3Financial Administration was the fastest growing major expense category at 319% increase

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State Debt Analysis (2012-2022)

Debt Trends

Total Long-Term Debt▲ 16%

$49,670,535,000 (2012)→$57,394,434,000 (2022)

Industrial Revenue Debt▼ 100%

$15,125,104,000 (2012)→$0 (2022)

Per Capita Debt▲ 15%

$5,596 (2012)→$6,462 (2022)

Population Trends

Population Change▲ 0.1%

8,876,000 (2012)→8,882,371 (2022)

⚠️ Per capita debt increased significantly with stable population

Debt Management

Most Recent Year (2022)

Issued:$4,058,596,000

Retired:$4,788,577,000

Net Change:$-729,981,000

Debt Retirement Trend

$2,002,702,000 → $4,788,577,000▲ 139%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2022, with a move toward higher debt levels.