Real Estate Industry News

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Map of the U.S. indicating property tax rankings.

Wallet Hub

Wondering how much you’re paying in property taxes relative to other states? The personal-finance website&nbsp;WalletHub has released its&nbsp;2020 Property Taxes by State&nbsp;report, which offers a comparison of annual property taxes across the United States.

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According to a recent study released by Wallet Hub, residents of New Jersey pay the highest property … [+] taxes.

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The average American household spends $2,375 annually on real-estate property taxes, and according to the National Tax Lien Association, more than $14 billion in property taxes go unpaid each year.

In order to rank property taxes, by state, from highest to lowest, researchers compared all 50 states and the District of Columbia using U.S. Census Bureau data in order to determine real estate property tax rates. Researchers divided “median real estate tax payment” by the “median home price” in each state, then used the results to obtain the dollar amount paid as real-estate tax on a house worth $204,900. *According to the U.S. Census Bureau, $204,900 is the median value for a home in the U.S. as of 2018.

The following chart sampling indicates the 10 states ranked as having the lowest property taxes and the 10 states with the highest property taxes.

Top 10 States With The Lowest Property Taxes

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Top 10 states with the lowest property taxes.

Wallet Hub

While Hawaii ranks No. 1 for having the lowest property taxes, Illinois and New Jersey come in last with the nation’s highest annual property taxes.

Top 10 States With The Highest Property Taxes

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Top 10 states with the highest property taxes.

Wallet Hub

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Wondering how much you’re paying in property taxes relative to other states? The personal-finance website WalletHub has released its 2020 Property Taxes by State report, which offers a comparison of annual property taxes across the United States.

The average American household spends $2,375 annually on real-estate property taxes, and according to the National Tax Lien Association, more than $14 billion in property taxes go unpaid each year.

In order to rank property taxes, by state, from highest to lowest, researchers compared all 50 states and the District of Columbia using U.S. Census Bureau data in order to determine real estate property tax rates. Researchers divided “median real estate tax payment” by the “median home price” in each state, then used the results to obtain the dollar amount paid as real-estate tax on a house worth $204,900. *According to the U.S. Census Bureau, $204,900 is the median value for a home in the U.S. as of 2018.

The following chart sampling indicates the 10 states ranked as having the lowest property taxes and the 10 states with the highest property taxes.

Top 10 States With The Lowest Property Taxes

While Hawaii ranks No. 1 for having the lowest property taxes, Illinois and New Jersey come in last with the nation’s highest annual property taxes.

Top 10 States With The Highest Property Taxes