States with Highest Real Estate Taxes
Tuesday, May 15, 2018
Posted by: Carly Cahur
Each year, the average American household spends $2,197 on real-estate property taxes - plus another $436 for residents of the 27 states with vehicle property taxes. With such high costs, it’s no surprise that more than $14 billion in property taxes go unpaid each year, according to the National Tax Lien Association.
In order to determine who pays the most relative to their state, the personal-finance website WalletHub has released its 2018 Property Taxes by State report, which compares home and vehicle taxes across the nation and features insights from a panel of experts.
States with Highest Real-Estate Taxes
- New Jersey
- New Hampshire
- Rhode Island and New York
Hawaii has the lowest real-estate tax, $501, which is 8.9 times lower than in New Jersey, the state with the highest at $4,437.
Twenty-seven states levy some form of vehicle property tax. Of those states, Louisiana has the lowest, $23.98, which is 47.7 times lower than in Rhode Island, the state with the highest at $1,143.79.
Blue States have 18.87 percent higher real-estate property taxes, averaging $2,287, than Red States, averaging $1,924.
By Dave Jenkins
To view the full report and see how Mid-South states rank, click here.
Copyright 2018 WMC Action News 5. All rights reserved.
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