The Highs and Lows of Property Taxes: A State-by-State Comparison

Introduction Have you ever wondered how property taxes vary across different states in the United States? Property taxes play a significant role in homeownership, as they impact the overall cost of owning a home. In...

Introduction

Have you ever wondered how property taxes vary across different states in the United States? Property taxes play a significant role in homeownership, as they impact the overall cost of owning a home. In this article, we will explore the highest and lowest property tax states and delve into the factors that contribute to this disparity.

Where are the most expensive homes located?

Let's start by looking at some of the counties with the highest median home prices in the country. Unsurprisingly, California dominates this list.

Taxes Graphic Image: Homes in different states Source | Caption: Homes in different states

San Mateo County, California takes the top spot, with a median home price of $1,474,100. Other counties in California, such as San Francisco County, Marin County, and Santa Clara County, also make it to the list of most expensive homes in the country.

What areas pay the most property taxes?

When it comes to property taxes, California and New York dominate the scene. In 2022, a significant number of homeowners in these states paid over $10,000 a year in property taxes.

Here are the 16 counties across these states where median property taxes exceeded $10,000 annually:

  • California: San Francisco County, Marin County, Santa Clara County
  • New York: New York County, Westchester County, Nassau County, Rockland County, Suffolk County, Putnam County
  • New Jersey: Bergen County, Morris County, Somerset County, Hunterdon County, Essex County, Union County, Passaic County

In fact, there were over 40 counties nationwide where median property taxes exceeded $7,000 a year in 2022.

Property Tax Comparison by State

To get a broader perspective on property taxes, let's dive into the 2021 American Community Survey's data and compare property taxes by state. The following table showcases the median home value, household income, monthly housing costs, and annual property taxes across the United States.

State Median Home Value Household Income Monthly Housing Costs Annual Property Taxes
Alabama - - - $598
Alaska - - - $2,195
Arizona - - - $1,125
Arkansas - - - $776
California - - - $1,680
Colorado - - - $1,616
Connecticut - - - $3,107
Delaware - - - $931
Florida - - - $1,377
Georgia - - - $1,205
Hawaii - - - $1,358
Idaho - - - $1,022
Illinois - - - $2,277
Indiana - - - $1,033
Iowa - - - $1,702
Kansas - - - $1,605
Kentucky - - - $845
Louisiana - - - $894
Maine - - - $2,249
Maryland - - - $1,693
Massachusetts - - - $2,565
Michigan - - - $1,465
Minnesota - - - $1,649
Mississippi - - - $1,061
Missouri - - - $1,073
Montana - - - $1,711
Nebraska - - - $2,010
Nevada - - - $1,044
New Hampshire - - - $3,362
New Jersey - - - $3,378
New Mexico - - - $832
New York - - - $3,025
North Carolina - - - $993
North Dakota - - - $1,649
Ohio - - - $1,356
Oklahoma - - - $771
Oregon - - - $1,557
Pennsylvania - - - $1,584
Rhode Island - - - $2,431
South Carolina - - - $1,211
South Dakota - - - $1,586
Tennessee - - - $799
Texas - - - $1,973
Utah - - - $1,070
Vermont - - - $2,738
Virginia - - - $1,699
Washington - - - $1,645
West Virginia - - -
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