Page 1 of 1

Highest property tax in the America...

Posted: Tue Jan 17, 2023 6:33 am
by silverbadge
#1 New Jersey

Average effective property tax: 2.13%
March 2022 average home value: $458,872
Average annual property tax paid: $9,774
New Jersey holds the unenviable distinction of having the highest property taxes in America yet again-it's a title that the Garden State has gotten used to defending. The tax rate there is an astronomical 2.21%, the highest in the country, and its average home value is painfully high as well. The result is America's highest average annual property tax paid-no other state even breaks the $7,000 mark, much less $8,000.Jordan Rosenfeld contributed to the reporting for this article.Methodology: GOBankingRates looked at Tax Foundation's "How High Are Property Taxes in Your State?" data to find (1) effective average property tax for each state. Once this was gathered GOBankingRates also found each state's (2) March 2022 average home value from Zillow and (3) average annual property tax paid. Only factor (1) was considered in the final rankings. All data was collected on and up to date as of May 9, 2022.