When you’re calculating how much home you can afford, don’t forget to factor in property taxes.
This annual bill is one of the most important expenses tied to homeownership, but it might not always be top of mind. Property taxes are one of the primary ways your local government funds itself, and your city or county can even foreclose on your property if you don’t pay on time.
That means property taxes are vitally important to your mortgage lender as well — so much so that you probably have an escrow account set up to make sure your tax bill is covered on your behalf.
Property tax rates vary from state to state, and some places have jaw-dropping tax burdens — including several states in the Northeast region. Keep reading for a breakdown of the states with the largest average property taxes for homeowners.
4 thoughts on “10 States With the Largest Property Tax Bills”
Big surprise, the top ten are all Democratic strongholds, I live in Oregon and pay $6800 per year, yes another Democrat state. As an aside we do not have sales tax and we cannot pump our own gas. DB
Lived there all my 84 years of life and all the Dems have done is to raise, raise and raise taxes until they strangle you and you have to move out to survive. That’s what all these Democratic run states do.
General trend: 1) More socialized the economy (take from ‘Peter’ give to ‘Paul’), the larger the property tax with not relation to home value, 2) The bluer the state, politically, the higher the tax rate, 3) numbers of people fleeing living in a state may correlate to the tax rate.
Interesting study if possible: How have the top ten states grown economically over the past 30 years relative to other states as a function of tax rates .
Be it Democrat or Republican when you have lived all of your life paying taxes there should be a reduction or a end of older tax payers who are now living on a fixed income. Cook County Illinois is horrible. You go for an appeal you are either rejected or your taxes are higher on the next payment. I am trying to find somewhere to move right now