Map Reveals States With Highest—And Lowest—Property Taxes
Summary
A new study by WalletHub shows large differences in property tax rates across the United States. New Jersey has the highest property tax rate, while Hawaii has the lowest. These taxes are important to local budgets and can affect both homeowners and renters.Key Facts
- WalletHub analyzed property tax rates across all U.S. states and Washington, D.C.
- New Jersey has the highest property tax rate at 2.11%, which means homeowners pay about $7,022 annually for a home valued at the 2024 median.
- Hawaii has the lowest property tax rate at 0.27%, with homeowners paying about $888 annually at the national median home value.
- The national average property tax paid by a household is $3,119 per year.
- Property taxes are a significant cost that impacts home affordability and local government budgets.
- The report suggests high property taxes could be a factor for people considering moving to different states.
- Property tax reform is a topic of interest as affordability challenges persist in the housing market.
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