ATTOM Data Solutions has scoured county-level property tax records from across the country to figure out exactly who is getting punished the most on their real estate taxes. To our complete ‘shock’, the resulting map looks eerily similar to the 2016 presidential electoral college map with the liberal bastions of the Northeast and Midwest suffering the highest property tax burdens. Per RealtyTrac:
Average Annual Property Tax was $3,296, an Effective Tax Rate of 1.15 Percent; Highest Effective Tax Rates in New Jersey, Illinois, Texas, New Hampshire, Vermont; Owner-Occupied Properties Register Higher Effective Tax Rates Than Investment Properties
ATTOM Data Solutions, curator of the nation’s largest fused property database, today released a 2016 property tax analysis for more than 84 million U.S. single family homes, which shows that property taxes levied on single family homes in 2016 totaled $277.7 billion, an average of $3,296 per home and an effective tax rate of 1.15 percent.
The report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county level along with estimated market values of single family homes calculated using an automated valuation model (AVM). The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.
Not surprisingly, residents of New Jersey won the award for highest property taxes of any overall state in the union while Westerchester County, the posh suburb of New York City, won for most expensive local municipality with taxes averaging over $16,000.
Per the chart below, states with the highest effective property tax rates were New Jersey (2.31 percent), Illinois (2.13 percent); Texas (2.06 percent); New Hampshire (2.03 percent); and Vermont (2.02 percent). Other states in the top 10 for highest effective property tax rates were Connecticut (2.00 percent), Pennsylvania (1.89 percent), New York (1.88 percent), Ohio (1.68 percent), and Rhode Island (1.64 percent).
Meanwhile, among the 586 counties with a population of at least 100,000 and at least 10,000 single family homes, nine posted average annual property taxes of more than $10,000…and again, to our complete shock, each one of them is in a deep-blue state: Westchester, Rockland, and Nassau counties in New York; Essex, Bergen, Union and Morris counties in New Jersey; Marin County, California; and Fairfield County, Connecticut.
Perhaps this is why our young snowflakes don’t own homes anymore…their desires to put their Ivy League anthropology degrees to good use in New York City don’t mesh well with the financial realities of implementing their socialist utopias.