The amount homeowners pay in property taxes can depend on which side of the city, district or county they live on. According to the U.S. Census Bureau, the typical American pays 1.02% of the value of their home in property taxes each year.
Property taxes nationwide increased before the pandemic. Between 2019 and 2023, the median value of annual property taxes increased by nearly 25%, according to an analysis by CoreLogic, a real estate industry analytics firm.
Property taxes fund public schools and fund other programs like infrastructure repair and policing. Part of your monthly mortgage payment goes toward property taxes. Therefore, if you are on a tight budget, higher property taxes can make saving more difficult.
Property taxes vary by state
Property taxes are hyperlocal: a similar home in your neighborhood could have a higher or lower tax liability simply because of its location. Some states levy a property tax, but for the most part, these taxes are imposed at the county, city, or district level.
New Jersey had the highest median property tax bill for single-family homes in 2023. Connecticut, New York, New Hampshire and Massachusetts round out the top five states with the most expensive median property tax bill . West Virginia homeowners paid the lowest amount of property taxes on average, about $694 per year.
The variation in property taxes by state reflects differences in home values and property tax rates in each state.
Find out how much homeowners pay for property taxes in your state:
Yanling Mayer, senior economist at CoreLogic, wrote last month that “states calculate property taxes differently across municipalities because housing prices and rates can vary widely locally.”
“In West Virginia, for example, average annual property taxes range from about $210 in McDowell and Webster counties to about $1,856 in Jefferson County,” Mayer wrote. “In New Jersey, average property taxes in 2023 ranged from $4,590 in Cumberland County to approximately $11,350 in Essex and Bergen counties.”
These counties have the highest property taxes
A separate CoreLogic analysis found that the average homeowner in Westchester County, New York, paid the most in property taxes last year, with a median value of $15,373.
In 2023, 13 of the top 15 counties with the highest property tax bills were in the greater New York area, including surrounding cities and suburbs.
Find out the value of homes in your county
For about two-thirds of American homeowners, location is a major determinant of their home’s value. Homeownership is a major financial asset for many households and knowing the value of a home can help families decide whether to buy or sell.
Check out the median home value in each U.S. county:
Contributor: Janna Herron
This article originally appeared on USA TODAY: Map: Which states and counties have the highest property taxes in America?
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