Study shows states with highest property taxes
MEMPHIS, TN (WMC) - Each year, the average American household spends $2,279 on real-estate property taxes plus another $440 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 released its 2019 Property Taxes by State report as well as accompanying videos, which compares home and vehicle taxes across the nation and features insights from a panel of experts.
States with Highest Real Estate Taxes
43. New York
49. New Hampshire
51. New Jersey
Hawaii has the lowest real-estate tax, $525, which is nine times lower than in New Jersey, the state with the highest at $4,725.
Twenty-seven states levy some form of vehicle property tax. Of those states, Louisiana has the lowest, $24.33, which is 44 times lower than in Rhode Island, the state with the highest at $1,070.48.
Blue States have 19.84 percent higher real-estate property taxes, averaging $2,399, than Red States, averaging $2,002.
To read the full report and see where Mid-South states rank, click here.
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