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Seattle, USA. Property taxes rose 14 percent in 2018, one of the highest in the country.
Getty
Last year was a good year for state coffers. Income from property taxes reached $304.6 billion, an increase of 4 percent over the $293.4 billion earned during 2017 according to a report released from ATTOM Data Solutions, curator of a national property database. Some cities outpaced the national average, with Seattle seeing double digit gains of 14 percent while others reached as high as 8 percent (Dallas-Fort Worth), 7 percent (San Francisco) and 5 percent (Riverside-San Bernardino). The average property tax paid by homeowners in 2018 was $3,498 for a single-family home, an increase of 3 percent from $3,399 in 2017. The only states that did not see an increase were: New Mexico, Nevada, Pennsylvania, Oklahoma and Iowa. The top ten states where homeowners paid the most in taxes are almost all on the East Coast. Though, not surprisingly, California makes the list since it has the greatest number of U.S. cities where you have to work more hours per year than anywhere else to afford a home in those markets and some of the most competitive housing markets going into 2019. The highest average tax bills for 2018 across the U.S. are as follows:
- New Jersey: $8,780
- Connecticut: $7,222
- New York: $6,947
- New Hampshire: $6,253
- Massachussetts: $6,019
- District of Columbia: $5,480
- Rhode Island: $5,368
- California: $5,354
- Vermont: $5,331
- Texas: $5,265
The highest tax burdens are clustered in the Northeast.
ATTOM
The reported compared county tax assessor office data from 87 million U.S. single family homes against an automated valuation model of home values to determine an effective tax rate they measured ‘the average annual property tax as a percentage of the average estimated market value of homes in each geographic area’. The highest effective tax rates are in the following states:
- New Jersey: 2.25%
- Illinois: 2.22%
- Texas: 2.18%
- Vermont: 2.16%
- Connecticut: 2.02%
- New Hampshire: 1.99%
- New York: 1.86%
- Pennsylvania: 1.79%
- Ohio: 1.69%
- Wisconsin: 1.58%
The are nine counties with an average annual tax bill over $10,000. The top five are largely central to New York City, with the exception of Marin County in Northern California.
- Westchester County, New York: $17,392
- Rockland County, New York: $12,925
- Marin County, California: $12,242
- Essex County, New Jersey: $12,161
- Bergen County, New Jersey: $11,771
For more information, a summary of the results is published here or to see an interactive table by each U.S. county based on the report’s date go to this page.
Follow me on Twitter @amydobsonRE
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Seattle, USA. Property taxes rose 14 percent in 2018, one of the highest in the country.
Getty
Last year was a good year for state coffers. Income from property taxes reached $304.6 billion, an increase of 4 percent over the $293.4 billion earned during 2017 according to a report released from ATTOM Data Solutions, curator of a national property database. Some cities outpaced the national average, with Seattle seeing double digit gains of 14 percent while others reached as high as 8 percent (Dallas-Fort Worth), 7 percent (San Francisco) and 5 percent (Riverside-San Bernardino). The average property tax paid by homeowners in 2018 was $3,498 for a single-family home, an increase of 3 percent from $3,399 in 2017. The only states that did not see an increase were: New Mexico, Nevada, Pennsylvania, Oklahoma and Iowa. The top ten states where homeowners paid the most in taxes are almost all on the East Coast. Though, not surprisingly, California makes the list since it has the greatest number of U.S. cities where you have to work more hours per year than anywhere else to afford a home in those markets and some of the most competitive housing markets going into 2019. The highest average tax bills for 2018 across the U.S. are as follows:
- New Jersey: $8,780
- Connecticut: $7,222
- New York: $6,947
- New Hampshire: $6,253
- Massachussetts: $6,019
- District of Columbia: $5,480
- Rhode Island: $5,368
- California: $5,354
- Vermont: $5,331
- Texas: $5,265
The highest tax burdens are clustered in the Northeast.
ATTOM
The reported compared county tax assessor office data from 87 million U.S. single family homes against an automated valuation model of home values to determine an effective tax rate they measured ‘the average annual property tax as a percentage of the average estimated market value of homes in each geographic area’. The highest effective tax rates are in the following states:
- New Jersey: 2.25%
- Illinois: 2.22%
- Texas: 2.18%
- Vermont: 2.16%
- Connecticut: 2.02%
- New Hampshire: 1.99%
- New York: 1.86%
- Pennsylvania: 1.79%
- Ohio: 1.69%
- Wisconsin: 1.58%
The are nine counties with an average annual tax bill over $10,000. The top five are largely central to New York City, with the exception of Marin County in Northern California.
- Westchester County, New York: $17,392
- Rockland County, New York: $12,925
- Marin County, California: $12,242
- Essex County, New Jersey: $12,161
- Bergen County, New Jersey: $11,771
For more information, a summary of the results is published here or to see an interactive table by each U.S. county based on the report’s date go to this page.
Follow me on Twitter @amydobsonRE