Source: Boston Agent Magazine —
Property taxes across the U.S rose last year, but the hike was much lower than in 2020, according to a new report.
ATTOM found in its 2021 property tax analysis of almost 87 million single-family homes, $328 billion in property taxes were levied last year, up only 1.6% from $323 billion in 2020, well below the 5.4% increase seen in 2019 and the second smallest rise in taxes over the past five years.
Last year the average tax on a single-family home increased just 1.8% to $3,785, from $3,719 in 2020, the smallest jump in five years and resulting in an effective tax rate of 0.9%, down from 2020’s 1.1%.
Rick Sharga, executive vice president of market intelligence at ATTOM said it’s hardly a surprise property taxes increased in 2021 when home prices across the country rose by 16%.