New Jersey has always been one of the more interesting markets for tax lien investors, high population density, a well-established auction system, and returns capped at 18% per annum. But between an intensely competitive bidding environment and the legal uncertainty that followed the Supreme Court's Tyler v. Hennepin County ruling, the landscape here is shifting in ways that matter to anyone active in this space. Here's a clear-eyed look at how the New Jersey market actually