Real estate taxes as a percentage of rental income

[Greg Wilkins]

My rental property is located in Cherry Hill, NJ. It currently rents for $1695/month. The real estate taxes are a shade under 34% of the monthly rent. I feel that this is large percentage. I am curious if anyone else would be willing to share the same information about some of your rental properties. My working theory is that property taxes this high make buy and hold with a decent cash flow difficult unless you find incredible deals and/or minimize leverage. Thank you in advance for any input that you may have.