Report: The States With the 10 Highest and Lowest Property Taxes

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For millions of Americans, property taxes are one of those necessary expenses that come with homeownership, but how much you pay depends heavily on location, location, location.

Have you ever wondered what homeowners in other states pay in property taxes? Read on.

How Much Are Property Taxes in Other States?

Finance site WalletHub has compiled a state-by-state breakdown of property taxes based on several factors including:

  • Annual taxes on a $244,900 home 
  • State median home values
  • Effective real estate tax rates

To come up with the data, WalletHub says it analyzed real estate taxes in all 50 states and the District of Columbia. For further insight, the site says it also consulted property tax experts.

Let’s look at the states with the 10 highest property taxes, according to WalletHub.

StateEffective Real Estate Tax RateAnnual Taxes on $244.9K Home
New Jersey2.47%$6,057
New Hampshire2.09%$5,120
New York1.73%$4,231

Now let’s take a look at the states with the lowest property taxes.

StateEffective Real Estate Tax RateAnnual Real Estate Tax Rate on $244K Home
South Carolina0.56%$1,379
District of Columbia0.57%$1,402
West Virginia0.59%$1,437

Read the full report from WalletHub.

How Are Property Taxes Calculated?

In most jurisdictions, the amount of your property taxes is based on ad valorem, which means it’s tied to your home’s value. However, that’s not the case across the whole United States. Contact your local tax office where the home is located to find out the specifics of how your property taxes are assessed.

How To Save on Property Taxes

Here are some easy ways you can save on property taxes:

1. Apply for a Homestead Exemption (Where Applicable)

Depending on where you live, your state may offer a homestead exemption, which will lower the taxable value of your property.


You’ll typically need to have owned the home for the full calendar year and for it to be your primary residence during the period you’re filing.

2. Look for Tax Breaks

Depending on several factors, including your profession, whether you served in the military and even your age, your home may qualify for some tax breaks you might not be aware of.

Think you’re eligible for tax breaks, credits or exemptions? Consult a tax professional.

3. Hold Off on Major Home Improvements

The more you do to your home to spruce up its curb appeal, the more valuable it will be.

Here’s one tip from lender Quicken Loans that will at least save you money on your immediate tax bill: “One way to put off an increase in your property taxes would be to press pause on a renovation, remodel or other home improvement project until after your annual property tax assessment.”

Final Thoughts

Paying property taxes can be a pain, but the good thing is that they are tax deductible. Remember to reach out to your local tax office if you have concerns about your property tax assessment. Even a slight reduction in your property tax bill will make your wallet happy!

Want more tips? Read our guide on how to lower your property taxes.