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.
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 | - | - | - |
