Property taxes can be a major expense for homeowners, alongside surprise repairs and basic maintenance. The amount you pay can vary greatly depending on where you live. Here are the top 10 best and worst states for property taxes, along with the approximate annual costs based on data from ATTOM.
10. New Hampshire
In scenic New Hampshire, the average property tax rate is 1.25%, with homeowners paying around $7,172 per year.
9. Kansas
Despite not being commonly associated with high costs for homeowners, Kansas has an average property tax rate of 1.26%, resulting in an annual bill of $3,463.
8. Vermont
Vermont, known for its natural beauty, has a property tax rate of 1.29%. Homeowners here typically pay around $6,000 per year in property taxes.
7. Pennsylvania
With an average property tax rate of 1.33%, Pennsylvania can be a pricey place to own a home. Homeowners here pay about $4,187 annually in property taxes.
6. Ohio
Ohio stands out in the Midwest with an average property tax rate of 1.59%, higher than some more costly states.
5. Nebraska
Surprisingly, Nebraska shares the same average property tax rate as New York at 1.46%. The annual property tax bill for a typical home is around $4,183.
4. New York
Beyond the expensive reputation of New York City, the rest of the state also has high property taxes, with an average rate of 1.46%. Homeowners here pay close to $8,000 annually.
3. Connecticut
Connecticut is known for its high cost of living, particularly for homeowners. The average property tax rate is 1.54%, resulting in an annual bill of $8,022.
2. New Jersey
As one of the most densely populated states, New Jersey is also one of the most expensive for homeowners. The average property tax rate is 1.64%, with an annual cost of $9,488.
1. Illinois
Illinois takes the top spot for the highest property tax rate in the country at 1.88%. Homeowners here face significant annual property tax bills.
Top 10 States with the Lowest Property Taxes
For individuals seeking sunshine without the threat of hurricanes, Arizona stands out as a prime location. With an average property tax rate of just 0.56%, homeowners in the Grand Canyon State can expect to pay around $1,707 annually – a significant savings compared to the national average.
West Virginia, famously immortalized in song by John Denver, also offers attractive property tax rates. The Mountain State boasts an average rate of 0.57%, resulting in an annual property tax bill of only $809 – the lowest in the nation.
Delaware distinguishes itself from its South Atlantic neighbors with a modest property tax rate of 0.55%. Homeowners in the first state can anticipate paying approximately $1,600 each year in property taxes.
Utah, known for its outdoor recreational opportunities, presents another appealing option for residents due to its low property taxes. With a rate of 0.55%, homeowners in the Beehive State face an average total property tax bill of $2,241 annually.
Louisiana, with its relaxed lifestyle in the bayou, offers similarly low property tax rates. The Pelican State boasts an average property tax rate of 0.55%, resulting in an annual payment of around $1,087 for homeowners.
South Carolina, nestled on the East Coast near the ocean, features one of the country’s best property tax rates at 0.57%. Residents of the Palmetto State can enjoy the beach lifestyle while paying relatively low property taxes.
Nevada, famous for its bustling casinos in cities like Las Vegas and Reno, also boasts remarkably low property tax rates. With an average rate of 0.50%, homeowners in the Silver State can expect to pay an average of $1,884 annually in property taxes.
Colorado, home to the majestic Rocky Mountains, offers some of the lowest property tax rates nationwide at 0.49%. Despite median home values approaching $465,000, residents can still benefit from comparatively low property taxes.
Alabama, known for its passion for SEC football and Southern cuisine, ranks second in the nation for lowest overall property tax rate at 0.39%. The Cotton State provides homeowners with significant savings on property taxes.
Hawaii, often associated with luxury and high costs of living, surprisingly boasts the lowest property tax rate in the country at 0.27%. Despite its reputation as an expensive state, Hawaii offers homeowners a welcome break with its exceptionally low property taxes.
These states provide attractive options for individuals seeking to minimize their property tax burden while enjoying diverse landscapes and lifestyles across the United States.
