Summary
Property taxes have become a significant concern for American homeowners as home values have increased due to the pandemic. The median property tax bill in the U.S. was $3,500 last year, but some states have much lower taxes. West Virginia, Alabama, and Arkansas have the lowest taxes, while states like New Jersey and New Hampshire have the highest.
Key Facts
- The median property tax bill in the U.S. was $3,500 last year.
- West Virginia has the lowest median property tax at $728.
- Alabama and Arkansas follow with median property taxes of $804 and $871, respectively.
- States with the highest property taxes include New Jersey ($9,413) and New Hampshire ($7,715).
- Several states, led by Republican lawmakers, are considering reducing or eliminating property taxes.
- Florida Governor Ron DeSantis has shown support for abolishing the state's property tax.
- There is skepticism about eliminating property taxes without harming public services or increasing other taxes.
- No U.S. state has completely eliminated property taxes yet.
