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A total of $357.5 billion was levied in property taxes on single-family homes in 2024, down 1.6% from 2023. However, new data from ATTOM also found the average tax on a single-family home rose to $4,172 in 2024, a 2.7% increase over the previous year. In comparison, the average tax on a single-family home increased 4.1% in 2023 from the prior year.

Nationwide, the average effective tax rate for single-family homes was 0.86% in 2024, down slightly from the average effective nationwide tax rate of 0.87% in 2023. ATTOM noted this data excluded New York due to unavailable data.

ATTOM observed the decline in effective tax rates recorded in much of the country came as estimated home values rebounded to a nationwide average of $486,456, a 4.8% increase over the previous year. In 2023, the national average home value had dropped for the first time in years, by 1.7% from 2022 values.

The 10 states with the highest effective tax rates in 2024 were all in the Northeast and middle of the country, led by Illinois (1.87%), New Jersey (1.59%), Connecticut (1.48%), Nebraska (1.32%), and Ohio (1.31%). Eight of the 10 states, with the lowest effective tax rates for single-family homes were in the South and West of the country. Hawaii had the lowest rate (0.33%), followed by Idaho, Arizona, and Alabama all at (0.41%), and Delaware (0.43%).

“While rising home values can influence property taxes, they don’t automatically lead to higher bills for homeowners,” said Rob Barber, CEO at ATTOM. “In many areas, we’ve seen taxes increase not just due to property appreciation, but also because of growing costs to operate local governments and schools or shifts in how tax burdens are distributed.” He added, “That said, regional disparities remain clear—with higher home values and effective tax rates in parts of the Northeast and Midwest often helping to support more robust local services, compared to the generally lower values and rates in the South and West.”