Property Taxes by State

One of several factors that contributes to an overall property tax rate is a state’s tax rate. All states with a significant amount of developed land have some sort of property tax. This type of tax is typically applied as a percentage on real estate properties. In some areas, it’s also levied on non-real estate holdings, like businesses and personal property (which includes cars). The best way to get an idea of how high your property taxes are is to calculate your average local rates and compare them against other places’ averages. 

Property taxes vary greatly by state and depend on the real estate value. The tax system is very complex in the United States, but there are usually a few main components of taxation to be aware of, either for your property or for a business.

Top 10 Lowest Property Taxes by State:

• Hawaii – 0.28%
• Alabama – 0.41%
• Colorado – 0.51%
• Louisiana – 0.55%
• District of Columbia – 0.56%
• Delaware – 0.57%
• South Carolina – 0.57%
• West Virginia – 0.58%
• Nevada – 0.60%
• Wyoming – 0.61%

Top 10 Highest Property Taxes by State: 

• New Jersey – 2.49%
• Illinois – 2.27%
• New Hampshire – 2.18%
• Connecticut – 2.14%
• Vermont – 1.90%
• Wisconsin – 1.85%
• Texas – 1.80%
• Nebraska – 1.73%
• New York – 1.72%
• Rhode Island – 1.63%

These resources are for informational purposes only and should not be construed as legal advice. Landlords and Tenants are encouraged to seek specific legal advice for any of the issues as found in this blog.