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Delaware Ranked 4th Lowest in Property Tax

Posted by 2 years ago. (Back to all articles...)

Where Owners Pay the Most, Least in Property Taxes

Daily Real Estate News | Wednesday, February 10, 2016

With tax burdens on the minds of many Americans as tax season approaches and election issues gain steam, one analysis of property taxes in the 50 states finds a wide spread of rates, including some surprising results.

Managing Taxes

The Tax Benefits of Owning

The Property Tax Factor

Time to Appeal That Tax Bill?

24/7 Wall St. recently analyzed data from the Tax Foundation to review property taxes paid in each state as a percentage of home values to find which state's home owners pay the most and least in property taxes.

The study found:

States With the Lowest Property Taxes

Hawaii (ranked No. 50 out of 50)

  • Effective property tax rate: 0.28%
  • Median home value: $528,000 (the highest)
  • Property taxes paid per tax return: $1,993 (5th lowest)

Alabama (ranked No. 49)

  • Effective property tax rate: 0.43%
  • Median home value: $125,600 (7th lowest)
  • Property taxes paid per tax return: $1,352 (the lowest)

Louisiana (ranked No. 48)

  • Effective property tax rate: 0.51%
  • Median home value: $143,600 (18th lowest)
  • Property taxes paid per tax return: $2,076 (7th lowest)

Delaware (ranked No. 47)

  • Effective property tax rate: 0.55%
  • Median home value: $230,500 (15th highest)
  • Property taxes paid per tax return: $2,532 (16th lowest)

South Carolina (ranked No. 46)

  • Effective property tax rate: 0.57%
  • Median home value: $140,000 (15th lowest)
  • Property taxes paid per tax return: $2,041 (6th lowest)

West Virginia (ranked No. 45)

  • Effective property tax rate: 0.59%
  • Median home value: $103,900 (the lowest)
  • Property taxes paid per tax return: $1,546 (2nd lowest)

 

States with the Highest Property Taxes

New Jersey (ranked No. 1 out of 50)

  • Effective property tax rate: 2.38%
  • Median home value: $313,200 (4th highest)
  • Property taxes paid per tax return: $8,943 (the highest)

Illinois (ranked No. 2)

  • Effective property tax rate: 2.32%
  • Median home value: $171,900 (24th highest)
  • Property taxes paid per tax return: $6,357 (5th highest)

New Hampshire (ranked No. 3)

  • Effective property tax rate: 2.15%
  • Median home value: $236,400 (13th highest)
  • Property taxes paid per tax return: $6,954 (4th highest)

Connecticut (ranked No. 4)

  • Effective property tax rate: 1.98%
  • Median home value: $267,200 (7th highest)
  • Property taxes paid per tax return: $7,294 (3rd highest)

Wisconsin (ranked No. 5)

  • Effective property tax rate: 1.96%
  • Median home value: $164,700 (24th lowest)
  • Property taxes paid per tax return: $4,622 (12th highest)



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