New Jersey Fiscal Statistics

StatisNostics/State Financials/New Jersey

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20122021

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State Revenue Analysis (New Jersey: 2012–2021)

Population: 8,876,000 → 8,882,190 (0.1% change)

Overall Revenue Trends

Total Revenue▲ 50.5%

$56,646,748,000 (2012)→$85,266,903,000 (2021)

Per Capita Revenue▲ 50.4%

$6,382 (2012)→$9,600 (2021)

Fund Balances▲ 61.1%

$36,088,851,000 (2012)→$58,125,945,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 5.3%

Major Tax Revenue

Property Tax▼ 8.6%

$5,650,000 (2012)→$5,166,000 (2021)

Sales Tax▲ 58.1%

$8,099,549,000 (2012)→$12,803,267,000 (2021)

Utility Revenue

Water Utilities▼ 1.9%

$42,872,000 (2012)→$42,055,000 (2021)

Sewerage Charges▲ 24.7%

$7,024,000 (2012)→$8,758,000 (2021)

Solid Waste Charges▼ 94.5%

$40,588,000 (2012)→$2,220,000 (2021)

Growth Analysis

Fastest Growing Revenue Sources

Sale of Property▲ 6133.3%

$3,000→$187,000

Federal Intergovernmental Public Welfare▲ 2073.9%

$588,269,000→$12,788,660,000

Other In Trust - Interest Revenue▲ 608.1%

$260,000→$1,841,000

Declining/Slowest Growing Sources

Federal Intergovernmental Sewerage▼ 99.0%

$35,580,000→$368,000

Solid Waste Charges▼ 94.5%

$40,588,000→$2,220,000

Elementary Secondary Education Not Elsewhere Classified Charges▼ 92.0%

$3,748,000→$299,000

Revenue Forecast

Projected Revenue (Next Year)▲ 6.6%

Estimated: $90,851,903,058

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

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%

2021 Revenue Sources

Individual Income Tax19.7%

Total General Sales Taxes15.0%

Federal Intergovernmental Public Welfare15.0%

Corporation Net Income Tax7.0%

Federal Intergovernmental Health & Hospitals4.4%

Miscellaneous General Revenue Not Elsewhere Classified4.0%

Federal Intergovernmental Other3.5%

Higher Education Tuition Charges2.8%

Federal Intergovernmental Education2.5%

Unemployment - Contribution2.4%

Other Selective Sales Taxes2.4%

Interest Earnings2.2%

Toll Highway Charges1.9%

All Other Not Elsewhere Classified Charges1.6%

Net Lottery Revenue1.4%

Federal Intergovernmental Highways1.2%

Public Utilities Tax1.1%

Hospital Charges1.1%

Federal Intergovernmental Transit Utilities0.8%

Motor Vehicle License0.8%

Insurance Premium Tax0.7%

Occupation & Business License Not Elsewhere Classified0.7%

Tobacco Sales Tax0.7%

Death & Gift Tax0.6%

Corporation License Tax0.6%

Other In Trust - Other Contributions0.6%

Documentary & Stock Transfer Tax0.6%

Motor Fuels Sales Tax0.5%

Federal Intergovernmental Housing & Community Development0.4%

Transit Utilities Revenue0.4%

Local Intergovernmental Education0.4%

Local Intergovernmental Highways0.4%

Amusement Tax0.4%

Donations From Private Sources0.3%

Workers Compensation - Other Contributions0.3%

Higher Education Auxiliary Charges0.2%

Local Intergovernmental Transit Utilities0.2%

Alcoholic Beverage Sales Tax0.2%

Federal Intergovernmental Employment Security Administration0.2%

Fines & Forfeits0.1%

Motor Vehicle Operators License0.1%

Amusement License Tax0.1%

Housing & Community Development Charges0.1%

Parks & Recreation Charges0.1%

Water Utilities Revenue0.0%

Federal Intergovernmental Other Natural Resources0.0%

Water Transportation & Terminal Charges0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Local Intergovernmental Health & Hospitals0.0%

Public Utility License Tax0.0%

Federal Intergovernmental Water Utilities0.0%

Hunting & Fishing License0.0%

Air Transportation Charges0.0%

Local Intergovernmental Other0.0%

Sewerage Charges0.0%

Workers Compensation - Interest Earnings0.0%

Property Tax0.0%

Alcoholic Beverage License Tax0.0%

Natural Resources Not Elsewhere Classified Charges0.0%

Rents0.0%

Solid Waste Charges0.0%

Other License Tax0.0%

Regular Highway Charges0.0%

Other In Trust - Interest Revenue0.0%

Unemployment - Interest Revenue0.0%

Federal Intergovernmental Air Transportation0.0%

Federal Intergovernmental Sewerage0.0%

Royalties0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Elementary Secondary Education Tuition and Transportation Charges0.0%

Sale of Property0.0%

Key Insights

1Total revenue increased by 50.5% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by 0.1%, while per-capita revenue changed by 50.4%.
3The state's fund balances increased by 61.1%, suggesting improved fiscal health.

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State Expense Analysis (New Jersey: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 47%

$22,687,272,000→$33,263,960,000

Per Capita Spending▲ 47%

$2,556→$3,745

Population Trends

Population Change▲ 0.1%

8,876,000 (2012)→8,882,190 (2021)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 35%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 75%

$0 (2012)→$0 (2021)

Sewerage Operations▼ 32%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 15%

$0 (2012)→$0 (2021)

General Expenses▲ 390%

$0 (2012)→$0 (2021)

New Jersey Key Insights

1General expenses increased dramatically by 390%, which may indicate classification changes, new initiatives, or reporting adjustments

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▲ 18%

$49,670,535,000 (2012)→$58,670,735,000 (2021)

Industrial Revenue Debt▼ 21%

$15,125,104,000 (2012)→$12,007,000,000 (2021)

Per Capita Debt▲ 18%

$5,596 (2012)→$6,605 (2021)

Population Trends

Population Change▲ 0.1%

8,876,000 (2012)→8,882,190 (2021)

⚠️ Per capita debt increased significantly with stable population

Debt Management

Most Recent Year (2021)

Issued:$7,425,089,000

Retired:$3,334,713,000

Net Change:+$4,090,376,000

Debt Retirement Trend

$2,002,702,000 → $3,334,713,000▲ 67%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2021, with a move toward higher debt levels.