How Costly Are Your State's Property Taxes?
Which state has the highest property taxes? (New Jersey)
How about the lowest? (Hawaii)
Where does your state rank? There's a whopping 850% difference between the highest and the lowest property tax states!
According to Wallethub, states that tend to vote Democratic typically have higher property taxes than more Republican states. This might be interesting in light of the upcoming national elections this year.
While property taxes play a valuable role in raising tax revenue to fund local governments and school districts, they can make a big difference in the overall affordability of a home. These state-by-state comparisons provide valuable information on each state's property tax burden. It's smart to analyze the property taxes when considering purchasing a home in another state.
Sources: WalletHub, the ascent, wisevoter.com, bankrate, and Redfin
Watch the short video below to learn how to lower your net property tax cost during the time you own your home with more in your pocket when you sell your home.
If you'd like more information on your state's property taxes, want to learn how to appeal your home's assessed value for property tax purposes, or how to sell your home for more than it's actually worth, get back in touch with the 72SOLD Director who gave you access to this blog.