Choosing a new home involves more than just the location and the house itself. Property taxes are a crucial part of homeownership. However, these taxes are not the same everywhere. Here, we’ll show you where these taxes are the highest in the US. We have used data from the U.S. Census Bureau to help you see which states have the toughest property taxes.
New Jersey
At the top of the list, New Jersey residents face the worst property taxes in the nation. This is mainly because of the state’s high education costs. With a median real estate tax payment of $8,928, homeowners here bear an effective real estate tax rate of 2.46%.
Illinois
High pension costs in Illinois have increased property taxes to cover shortfalls. Residents bear significant property tax burdens. With a median real estate tax payment of $5,213, the effective tax rate is 2.29%.
Connecticut
Connecticut boasts a median real estate tax payment of $6,251. The effective property tax rate over there is 2.16%. The state’s relatively high property tax rates support various public services. It includes education, healthcare, and infrastructure maintenance.
New Hampshire
Despite having no state income tax, New Hampshire relies on high property taxes. The “Granite State,” or New Hampshire, has an effective tax rate of 1.77%. The median home value is $434,700. The local government uses these funds to provide services like education.
Texas
Texas residents face property high tax obligations. The state doesn’t have income tax and solely relies on property taxes. With a median real estate tax payment of $4,399, homeowners bear an effective tax rate of 1.90%.
Vermont
Vermont residents experience considerable property tax burdens. With a median real estate tax payment of $4,706, homeowners contend with an effective tax rate of 1.89%.
New York
Property taxes are a big part of New York City’s finances. They are levied on all land and buildings. With a median real estate tax payment of $6,217, homeowners bear an effective tax rate of 1.73%.
Wisconsin
Wisconsin residents contend with high property tax burdens. With a median real estate tax payment of $3,570, homeowners face an effective tax rate of 1.71%.
Nebraska
Nebraska residents shoulder high property tax obligations. With a median real estate tax payment of $3,184, homeowners bear an effective tax rate of 1.70%. Nebraska’s property tax revenues contribute to essential services and infrastructure projects statewide.
Iowa
Iowa residents experience significant property tax burdens. With a median real estate tax payment of $2,700, homeowners contend with an effective tax rate of 1.59%.
Ohio
Ohio residents face notable property tax obligations because of its booming housing markets. With a median real estate tax payment of $2,658, homeowners bear an effective tax rate of 1.57%.
Pennsylvania
Pennsylvania offers a rich history and proximity to large cities. There’s no denying that property taxes pose a significant expense for homeowners in the state. With a median real estate tax payment of $3,352, homeowners face an effective tax rate of 1.56%.
Rhode Island
Rhode Island has an effective property tax rate of 1.54%. With a median real estate tax payment of $4,526, homeowners bear a hefty property tax burden. It supports essential services and infrastructure projects across the state.
Michigan
Michigan has some of the highest property tax rates in the country. With a median real estate tax payment of $2,734, homeowners face an effective tax rate of 1.45%.
Kansas
Kansas residents face notable property tax obligations. This is because of the appraised value of all property in the state. With a median real estate tax payment of $2,556, homeowners bear an effective tax rate of 1.40%.
Maine
Maine residents experience significant property tax burdens. With a median real estate tax payment of $2,868, homeowners contend with an effective tax rate of 1.29%.
Alaska
Alaska residents contend with notable property tax obligations. With a median real estate tax payment of $3,716, homeowners face an effective tax rate of 1.24%. Alaska’s property tax revenues support both general governance and educational institutions.
South Dakota
Holding the eighteenth spot, South Dakota residents experience considerable property tax obligations. With a median real estate tax payment of $2,528, homeowners bear an effective tax rate of 1.22%.
Massachusetts
Securing the nineteenth position, Massachusetts residents face significant property tax burdens. With a median real estate tax payment of $5,113, homeowners face an effective tax rate of 1.19%.
Minnesota
Minnesota residents contend with notable property tax obligations. With a median real estate tax payment of $2,860, homeowners bear an effective tax rate of 1.10%.
Maryland
Maryland has a limited housing supply and rising home prices. That’s the reason why residents have to pay high property taxes. With a median real estate tax payment of $3,709, homeowners face an effective tax rate of 1.07%.
North Dakota
North Dakota residents contend with significant property tax burdens. With a median real estate tax payment of $2,378, homeowners bear an effective tax rate of 1.02%.
Missouri
Missouri residents experience notable property tax obligations. With a median real estate tax payment of $1,830, homeowners face an effective tax rate of 1.00%.
