Metros with the least and most expensive land taxes

So you finally bought your dream house.

With the prices of still high houses and mortgage rates, it probably cost you a Penny enough.

You might think you’re clear – but not quite. Land taxes are another important expenditure to keep in mind. For new owners, the shock of property tax stickers can be real. And if you own your home for years, you have probably seen your tax bill climb regularly.

Land taxes – which are based on the evaluated value of a house – can drop or increase over time due to several factors, including local real estate market, improvements in the house made or changes in local tax rates.

According to Lendingtree data, land taxes increased by 10.4% nationally from 2021 to 2023, the last year data is available. The owners of the 50 largest metropolitan regions in the United States are now paying a median of $ 2,969 per year, or about $ 247 per month, in property taxes, whether they have a mortgage. In many areas, however, the owners pay hundreds, even thousands of others.

The highest increase was in Tampa, where land taxes jumped 23.3% over the period of two years. Then, Indianapolis, with an increase of 19.8%, Dallas, with 19%, and Jacksonville, in Florida, with 18.7%. Atlanta and Miami finished tied for the fifth increase, with 18.6%.

To shed light on the way in which land taxes vary across the country and how the increases have varied, we have highlighted the five metros with the highest and the five of land with the lowest.

It turns out that relatively smaller southern metros – which often also has a lower overall cost of living – tend to have the lowest property taxes, while more populated and expensive areas in the northeast and on the west coast have the highest.

Birmingham, in Alabama, is at the bottom of the tax scale. With a median home sale price of $ 213,250 – well below the national median of $ 430,848 – and a median property tax of $ 1,091, the owners have relatively lower invoices. At the top is New York, one of the most expensive real estate markets in the world and also houses the highest land taxes in the country.

You will find below the American metros with the lowest and highest land taxes, as well as to what extent they increased in each between 2021 and 2023, according to Lendingtree.

The typical home selling price in February, the most recent available, comes from Redfin, and the 2023 population figures come from the American census.

Metros with the cheapest land taxes

5. Nashville

4. Phoenix

3. Louisville, Kentucky

2. Memphis, Tennessee

• Median land taxes paid in 2023: $ 1,856
• Percentage of variation compared to 2021-2023: 8.9%
• Sale price of the median house: $ 180,000
• Metro population: 618 639

1. Birmingham, Alabama

• Median land taxes paid in 2023: $ 1,091
• Percentage of variation compared to 2021-2023: 13.4%
• Sale price of the median house: $ 213,250
• Metro population: 196 644

Metros with the most expensive land taxes

5. Boston

• Median land taxes paid in 2023: $ 6,696
• Percentage of variation compared to 2021-2023: 10.2%
• Sale price of the median house: $ 858,000
• Metro population: 653 833

4. Austin

• Median land taxes paid in 2023: $ 6,973
• Percentage of variation compared to 2021-2023: 13.8%
• Sale price of the median house: $ 512,500
• Metro population: 979 882

3. San Francisco

• Median land taxes paid in 2023: $ 8,156
• Percentage of variation compared to 2021-2023: 16.5%
• Sale price of the median house: $ 1,392,750
• Metro population: 808 988

2. San Jose

1. New York

• Median land taxes paid in 2023: $ 9,937
• Percentage of variation compared to 2021-2023: 11%
• Sale price of the median house: $ 852,500
• Metro population: 8 258 035