Where Does Your State Stand Among the Highest in Property Taxes?

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Where Does Your State Stand Among the Highest in Property Taxes?

Jun, 23rd 2017

When it comes to buying a home, buyers often focus on the mortgage payment, down payment or even closing costs, however, there is yet another cost to owning a home that comes after the deed is signed – property taxes.

Some states have relatively low property tax rates, while others can add up to quite a hefty sum. The highest rate is in New Jersey, where homeowners pay a property tax of 2.35% annually.

The average American pays about $2,149 per year in property taxes, according to the U.S. Census Bureau, however about $11.8 billion in property taxes go unpaid each year, according to the National Tax Lien Association.

WalletHub, a personal finance website, used data from the U.S. Census Bureau to show which states charged homeowners the most in property taxes.

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