How much money do you spend on property taxes?
In some states, houses are relatively affordable, property tax rates are somewhere around half of 1 percent, and the average tax payment is no more than a few hundred bucks per year.
However, there are other states where the houses are pricey, the rates soar over 2%, and the average annual property tax bills creep up to $10,000 per year.
Financial experts have ranked the states with the scariest property taxes in America, including the average home value, the percentage rate, and the average dollar amount paid.
To give you some context, the average house value in the US is $349,015, the average effective property tax is 1.04%, and the average annual property tax payment is $3,630.
Here are states where owning real estate is quite expensive!
4 Responses
Where does the State of Confusion come in at?
Bull, Colorado has some of the highest around, weld county is 4 to 5% on property , ours jumped in one year to almost 4500
As senior adults we pay 2/3 of our property taxes for schools we have no children in and have never had children in – we don’t have any children! Also, if you want any type of exemptions that might be available, you have to go to the office that process these exemptions – too bad if you are disabled and have a hard time being mobile and do not put a sign in your front yard protesting taxes, the county will come by and remove them – wonderful Illinois!
This post surprised me. I knew CT was high, #5 on the list, but I never thought yhat CA and NY are not even in the top 10.