The average annual US residential property tax bill was $4,271 in 2024, according to the National Association of Home Builders (NAHB) analysis of the 2024 American Community Survey. That represented a 4% increase from the previous year.
Last year marked the first time that no state had an average residential property tax bill that was under $1,000. New Jersey led the nation with the highest real estate taxes with an average of $9,767 per home, while neighboring New York came in second at $7,573. Homeowners in West Virginia paid the lowest average total real estate taxes at $1,044.
Jesse Wade, NAHB director of tax and trade policy and housing policy research, noted the tax burden varied widely between the states.
“Illinois, for the second consecutive year, had the highest effective property tax rate at $17.93 per $1,000 of home value,” Wade said. “Hawaii continued to have the lowest effective property tax rate at $3.08 per $1,000 of home value. Hawaii also had the highest average home value, at $1.05 million in 2024. Notably, the average effective property tax rate tends to be higher in the Northeast, in addition to the presence of higher home values.”
It’s difficult to understand why they don’t just keep property taxes at a much lower rate! Why put a strain on the people that are buying real estate to keep the economy thriving?
Because they want you to lose your home to tax sales, hedge fund investors and the wealthy, so the new “subsciption” and rental economy can forever make them richer while you become an indentured servant. Not a “home” anymore
100% correct
I challenge the author/s to review San Francisco property taxes that are a deliberate scam/scheme disguising taxing as “fees” because by calling them fees, they don’t have to be voted on.I easily pay an extra fifteen to eighteen hundred dollars by annually in utter complete bs “fees”. By this scheme, SF can claim their property taxes are much lower than is the reality when adding in the plethora of BS fees
Highest average bill doesn’t matter as property values are generally much higher in certain states than others. It’s whoever has the highest effective tax rate that’s the real problem with guaranteed bloated budgets full of wasteful spending.
In Michigan go to AxMiTax.org to find out where to sign a petition to end property taxes on the ballot. Congress won’t do it, so voters must!
Short-sighted. Property taxes can’t simply be eliminated. There is no ‘free lunch’, monies are needed for local government services. DeSantis in Florida is having troubles with his attempt to eliminate property taxes. They will find other ways to get the money out of people, whether via higher sales taxes, whatever, you can’t simply vote these away!
Then, there additional special fees for improvement bonds; road and bridge bonds, water lines, school bonds and other miscellaneous. As if regular taxation isn’t enough with proper management of funds, so I don’t vote for them. The last I checked, several years ago, the fees to build an average tract house in California were $50,000 for schools, parks, fire and police and the builder had to pave off-site improvements for connecting roads, all built into the price of a house. The land is among the lowest of the costs per individual unit.
Most communities have minimum size homes that also drives up the cost of a home due to more materials, with fees that are higher because they are assigned by the square foot.