New Jersey tops nation’s highest property tax list at $9,413 while southern states offer relief

Property taxes are one of the most significant ongoing expenses homeowners face. The taxes are meant to fund local government services such as infrastructure, schools, and other essential systems.

The specific fee is calculated based on a home’s value and its location, though the amount can vary annually based on local tax laws and the home’s value. Typically, if someone’s home is more valuable, they will owe more in property taxes. Home values are also re-evaluated as often as every year, which means property tax bills can change. 

The issue facing many homeowners is that property taxes are growing due to increased home values and changes to local tax rates, Realtor.com senior economist Joel Berner said in an April report.

SEVERAL STATES SEEK END TO PROPERTY TAXES: SHOULDN’T HAVE TO ‘RENT FROM THE GOVERNMENT

The median property in the U.S. saw its property tax bill grow by 2.8% from 2023 to 2024 as over 73% of properties had tax increases during that time. In 2024, the median tax bill in the U.S. was $3,500, which was largely driven by home price appreciation. 

However, Berner said many homeowners may not realize they can protest their home’s value assessment. In fact, over 40% of properties nationwide could save at least $100 by protesting the assessed value, with a median savings of over $500, according to Berner. 

HOW ELIMINATING PROPERTY TAXES IN FLORIDA COULD AFFECT THE STATE’S REAL ESTATE MARKET

Such taxes have become a flashpoint among politicians, with some even calling for their complete elimination. One Pennsylvania lawmaker argued that homeowners shouldn’t have to “pay rent” to the government. Recently, Gov. Ron DeSantis doubled down on his goal of eliminating property taxes in Florida, a move that would make it the lone state in the country with no state income or property tax.

Residents in New Hampshire, New Jersey, Connecticut, Washington and New York face the highest median property tax amount, according to the most recent data from Realtor.com

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Conversely, Indiana, Alabama, West Virginia and Arkansas residents have the lowest median property tax amount. 

Here are the states in order from highest to lowest median property tax amount, according to Realtor.com: 
 

New Jersey – $9,413
New Hampshire __  $7,715
Connecticut – $6,944
Washington – $6,338
New York – $6,096
Texas – $5,860
California – $5,248
Massachusetts– $5,142
Rhode Island– $5,111
District of Columbia – $5,087
Maryland – $4,874
Maine – $4,335
Oregon – $4,265
Alaska – $4,113
Minnesota – $3,712
Florida – $3,659
Wisconsin – $3,612
Colorado – $3,398
Kansas – $3,379
Pennsylvania – $3,137
Montana – $3,072
Hawaii – $2,931
Ohio – $2,823
Iowa – $2,816
Utah – $2,768
Virginia – $2,755
Georgia – $2,683
South Dakota – $2,632
Missouri – $2,534
North Dakota – $2,525
Nebraska – $2,382
Nevada – $2,316
Vermont – $2,206
Wyoming – $2,024
Illinois – $1,974.5
Idaho – $1,974
North Carolina – $1,971
Arizona – $1,956
New Mexico –$1,734
Delaware – $1,702
Michigan – $1,670
Kentucky – $1,551
Oklahoma – $1,481
Louisiana – $1,415
Tennessee – $1,333
South Carolina – $1,328
Mississippi – $1,034
Indiana – $995
Alabama – $804
West Virginia – $728
Arkansas – $725

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