By Erik Bascome
Staten Island Advance, N.Y.
(TNS)
STATEN ISLAND, N.Y.—If you’re looking to move to a new part of the country, you may want to consider how much you’ll be paying in property taxes should you decide to purchase a home.
WalletHub, an online financial advisory site, released a new study of the states with the highest property tax rates to give prospective homebuyers a better understanding of how much they can expect to pay each year.
“Some states charge no property taxes at all, while others charge an arm and a leg. Americans who are considering moving and want to maximize the amount of money they take home should take into account property tax rates, in addition to other financial factors like the overall cost of living, when deciding on a city,” said Chip Lupo, WalletHub analyst.
To determine property tax rates, researchers divided the median real-estate tax payment by the median home price in each state using data from the U.S. Census Bureau.
They then multiplied the state’s median home price by the effective property tax rate to determine how much the average household in that state pays in property taxes each year.
New Jersey was found to have the highest effective property tax rate in the country at 2.23%, with the average homeowners paying nearly $10,000 each year based on the state’s median home value of $427,600.
New York also found its way towards the top of the list, ranking 6th in the nation with an effective property tax rate of 1.6%.
With the state’s median home valued at $403,000, the 1.6% property tax rate equates to roughly $6,450 paid annually.
It’s important to note that property taxes can vary widely by county and municipality within a given state, so prospective buyers should make sure to research local property taxes before purchasing a home.
Here’s a look at property tax rates in the United States, from highest to lowest.
| Rank (1=Lowest) | State | Effective Real-Estate Tax Rate | Annual Taxes on $303.4K Home* | State Median Home Value | Annual Taxes on Home Priced at State Median Value |
|---|---|---|---|---|---|
| 51 | New Jersey | 2.23% | $6,770 | $427,600 | $9,541 |
| 50 | Illinois | 2.07% | $6,285 | $250,500 | $5,189 |
| 49 | Connecticut | 1.92% | $5,813 | $343,200 | $6,575 |
| 48 | New Hampshire | 1.77% | $5,375 | $367,200 | $6,505 |
| 47 | Vermont | 1.71% | $5,176 | $290,500 | $4,956 |
| 46 | New York | 1.60% | $4,856 | $403,000 | $6,450 |
| 45 | Texas | 1.58% | $4,790 | $260,400 | $4,111 |
| 44 | Wisconsin | 1.51% | $4,594 | $247,400 | $3,746 |
| 43 | Nebraska | 1.50% | $4,542 | $223,800 | $3,350 |
| 42 | Iowa | 1.43% | $4,329 | $195,900 | $2,795 |
| 41 | Ohio | 1.36% | $4,131 | $199,200 | $2,712 |
| 40 | Pennsylvania | 1.35% | $4,089 | $240,500 | $3,241 |
| 39 | Rhode Island | 1.32% | $3,993 | $368,800 | $4,854 |
| 38 | Kansas | 1.30% | $3,942 | $203,400 | $2,643 |
| 37 | Michigan | 1.28% | $3,897 | $217,600 | $2,795 |
| 36 | Alaska | 1.14% | $3,445 | $333,300 | $3,785 |
| 35 | Massachusetts | 1.11% | $3,354 | $525,800 | $5,813 |
| 34 | Maine | 1.10% | $3,332 | $266,400 | $2,926 |
| 33 | South Dakota | 1.09% | $3,318 | $236,800 | $2,590 |
| 32 | Minnesota | 1.04% | $3,162 | $305,500 | $3,184 |
| 31 | Maryland | 1.00% | $3,043 | $397,700 | $3,989 |
| 30 | North Dakota | 0.99% | $3,010 | $241,100 | $2,392 |
| 29 | Missouri | 0.88% | $2,655 | $215,600 | $1,887 |
| 28 | Washington | 0.84% | $2,545 | $519,800 | $4,361 |
| 27 | Oregon | 0.83% | $2,516 | $454,200 | $3,767 |
| 26 | Oklahoma | 0.82% | $2,481 | $185,900 | $1,520 |
| 25 | Georgia | 0.81% | $2,461 | $272,900 | $2,214 |
| 24 | Florida | 0.79% | $2,385 | $325,000 | $2,555 |
| 23 | Kentucky | 0.77% | $2,322 | $192,300 | $1,472 |
| 22 | Montana | 0.75% | $2,275 | $338,100 | $2,535 |
| 19 | Indiana | 0.74% | $2,251 | $201,600 | $1,496 |
| 19 | Mississippi | 0.74% | $2,235 | $161,400 | $1,189 |
| 19 | Virginia | 0.74% | $2,259 | $360,700 | $2,686 |
| 18 | New Mexico | 0.72% | $2,181 | $232,200 | $1,669 |
| 17 | California | 0.71% | $2,149 | $695,400 | $4,926 |
| 16 | North Carolina | 0.70% | $2,123 | $259,400 | $1,815 |
| 14 | District of Columbia | 0.58% | $1,750 | $724,600 | $4,180 |
| 14 | Wyoming | 0.58% | $1,765 | $285,100 | $1,659 |
| 13 | Arkansas | 0.57% | $1,736 | $175,300 | $1,003 |
| 11 | Tennessee | 0.55% | $1,654 | $256,800 | $1,400 |
| 11 | Louisiana | 0.55% | $1,666 | $208,700 | $1,146 |
| 10 | West Virginia | 0.54% | $1,628 | $155,600 | $835 |
| 7 | Delaware | 0.53% | $1,607 | $326,800 | $1,731 |
| 7 | Idaho | 0.53% | $1,619 | $376,000 | $2,006 |
| 7 | Utah | 0.53% | $1,608 | $455,000 | $2,412 |
| 6 | Arizona | 0.52% | $1,571 | $358,900 | $1,858 |
| 5 | South Carolina | 0.51% | $1,537 | $236,700 | $1,199 |
| 3 | Nevada | 0.49% | $1,472 | $406,100 | $1,970 |
| 3 | Colorado | 0.49% | $1,479 | $502,200 | $2,448 |
| 2 | Alabama | 0.38% | $1,148 | $195,100 | $738 |
| 1 | Hawaii | 0.27% | $820 | $808,200 | $2,183 |
*$303,400 is the median home value in the U.S. as of 2023, the year of the most recent available data.
© 2025 Staten Island Advance, N.Y.. Visit www.silive.com. Distributed by Tribune Content Agency LLC.
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Tags: property tax, Taxes
