What are we paying in Property Taxes

What’s the median property tax bill on a family home in the US?

It’s about $2,000 a year.   However, that amount varies quite a bit by county and by state.

For example, the rate of tax (the percentage of your property value that you pay in tax) is only 0.18% in Louisiana but it rises to a whopping 1.89% in New York State.   That’s a huge difference, particularly if your home is worth quite a bit.  Worse, for moderate income counties, high property tax rates are the equivalent of a 6% income tax.

Where are the places with the highest property taxes?  The top ten most expensive counties are in New York and New Jersey.

Join the movement to restore America's prosperity

Discussion — 10 Responses

  • Bill October 30, 2013 on 2:04 pm

    Passaic County, NJ here. $8,000 on a $300,000 home (pre-crash). That’s 2.67% and I consider myself fairly fortunate.

    • Jean Bill March 9, 2017 on 9:27 am

      Evrneoye would benefit from reading this post

  • John Robb October 30, 2013 on 7:21 pm

    Thanks Bill. Hopefully the schools match the price you are paying. My town’s school system is in the top ten nationally, which is worth the price paid. Not sure it’s going to last though. The town is growing very rapidly w/o a corresponding increase in the tax base.

  • Eric November 5, 2013 on 8:57 pm

    2% is the rule of thumb in the Chicago Suburbs. Mine are 2.4% of purchase price (6 years ago) and 3.5% of current value.

    • John Robb Eric November 5, 2013 on 9:02 pm

      I feel your pain. Schools any good?

      • Eric John Robb November 6, 2013 on 5:59 pm

        Schools are good. But too much debt.

  • Penny Pincher November 6, 2013 on 2:21 pm

    Here in n. KY we have the county and the city property tax and whatever they are they add up to 2%. This is not a rich area.

  • Penny Pincher November 6, 2013 on 2:24 pm

    Plus, they tax your car as a property, like they do in Boston. Cincinnati doesn’t do that, plus KY is a no fault auto insurance state so even as an over-40 homeowner with no tickets, I pay $130 a month for car insurance.

    Between OH, KY and IN there are more tax jurisdictions than in the rest of the US combined.

  • Mark Edward November 26, 2013 on 8:12 pm

    If one were to carefully analyze the property tax statutes in their state, one would most likely discover that the tax does not apply to people and their private home… The wording of statutes are tricky, and the State has adopted a policy of treating People as if they were corporate entities, and so we have all adopted the mindless idea that “everyone owes property tax”.

    Why? Why should an American have a life-long lease payment for property you purchased with your hard earned money? And please don’t use the oddly ubiquitous “who will build and maintain roads” argument to defend the thieves called State.

    • John Robb Mark Edward December 1, 2013 on 2:34 pm

      Good luck with that Edward. JR