Texas, Vermont Tie For 6th Highest In Real Estate Property Taxes Out Of All 50 States And DC

Texas, Vermont Tie For 6th Highest In Real Estate Property Taxes Out Of All 50 States And DC

By Terra Rivers, Managing Editor

A new study from WalletHub was released Tuesday, February 26, that ranks Texas and Vermont as the states with the sixth highest in real estate property taxes.

The ranking lists states with the lowest in real estate property taxes at number 1. 

According to WalletHub, Texas and Vermont tied at 45 with an effective tax rate of 1.83 percent. Annual taxes on a $194,000 home in Texas run homeowners $3,544 in property taxes. The median home value in 2017 was $151,500 at the state level.

New Jersey tops the chart at number 51 with the highest property taxes. New Jersey residents spend $4,725 on a $194,000 home. The state’s median home value is $321,100; homeowners with houses appraised at median value pay $7,840 in property taxes each year.

Blue States have 19.84 percent higher real-estate property taxesaveraging $2,399, than Red States, averaging $2,002.

Texas also tied with 24 other states in vehicle property taxes rates with an effective vehicle tax rate of 0.00 percent. Rhode Island tops the chart at 51 with 4.40 percent property tax rate on vehicles.

WalletHub determined the rankings using data from the U.S. Census Bureau for real estate property tax rates and applying assumption based on national auto-sales data.

While 62 percent of households in the United States know they’re paying property taxes, the remaining 38 percent is usually doing it indirectly. Property taxes impact the amount of rent landlords charge, whether a household is renting an apartment or a house.

For more information on WalletHub’s methodology, take a look at the full report. Check out the full state rankings in the table below.

Can’t see the whole table? Touch it and scroll right.

NOTE: The ranking below are ranked as the higher the number the higher the taxes are. Number one pays the least and number 51 pays the most.

Real Estate Property Taxes by Statezzz
RANK (1=
LOWEST)
STATE EFFECTIVE REAL ESTATE
TAX RATE
ANNUAL
TAXES ON
$194K HOME*
STATE
MEDIAN
HOME VALUE
ANNUAL TAXES ON HOME PRICED AT STATE MEDIAN VALUE
51 New Jersey 2.44% $4,725 $321,100 $7,840
50 Illinois 2.31% $4,476 $179,700 $4,157
49 New Hampshire 2.20% $4,257 $244,900 $5,388
48 Connecticut 2.07% $3,999 $270,100 $5,582
47 Wisconsin 1.94% $3,756 $169,300 $3,286
45 Texas 1.83% $3,544 $151,500 $2,775
45 Vermont 1.83% $3,544 $220,600 $4,040
44 Nebraska 1.80% $3,485 $142,400 $2,565
43 New York 1.68% $3,246 $293,000 $4,915
42 Rhode Island 1.66% $3,206 $242,200 $4,013
41 Michigan 1.64% $3,179 $136,400 $2,241
40 Pennsylvania 1.58% $3,054 $170,500 $2,691
39 Ohio 1.57% $3,042 $135,100 $2,124
38 Iowa 1.53% $2,960 $137,200 $2,099
37 Kansas 1.40% $2,713 $139,200 $1,952
36 Maine 1.35% $2,619 $179,900 $2,435
35 South Dakota 1.32% $2,550 $152,700 $2,012
34 Massachusetts 1.22% $2,365 $352,600 $4,309
33 Alaska 1.19% $2,303 $261,900 $3,117
32 Minnesota 1.15% $2,225 $199,700 $2,296
31 Maryland 1.10% $2,126 $296,500 $3,257
30 Oregon 1.04% $2,006 $265,700 $2,755
29 Washington 1.03% $1,996 $286,800 $2,958
28 North Dakota 1.01% $1,962 $174,100 $1,765
27 Missouri 0.99% $1,910 $145,400 $1,435
26 Florida 0.98% $1,897 $178,700 $1,752
25 Georgia 0.91% $1,769 $158,400 $1,448
24 Oklahoma 0.90% $1,737 $125,800 $1,129
23 Indiana 0.87% $1,679 $130,200 $1,130
21 North Carolina 0.86% $1,656 $161,000 $1,378
21 Kentucky 0.86% $1,667 $130,000 $1,120
20 Montana 0.84% $1,625 $209,100 $1,756
18 Virginia 0.80% $1,550 $255,800 $2,049
18 Mississippi 0.80% $1,556 $109,300 $879
17 New Mexico 0.78% $1,502 $163,900 $1,272
16 California 0.77% $1,490 $443,400 $3,414
15 Idaho 0.75% $1,447 $176,800 $1,322
14 Tennessee 0.74% $1,429 $151,700 $1,120
13 Arizona 0.72% $1,400 $193,200 $1,398
12 Nevada 0.69% $1,331 $216,400 $1,489
11 Utah 0.66% $1,280 $238,300 $1,576
10 Arkansas 0.63% $1,213 $118,500 $743
9 Wyoming 0.61% $1,186 $204,900 $1,256
8 West Virginia 0.59% $1,132 $111,600 $653
7 South Carolina 0.57% $1,108 $148,600 $851
6 Delaware 0.56% $1,078 $238,600 $1,329
4 Colorado 0.55% $1,065 $286,100 $1,575
4 District of Columbia 0.55% $1,055 $537,400 $2,930
3 Louisiana 0.52% $1,006 $152,900 $795
2 Alabama 0.42% $817 $132,100 $558
1 Hawaii 0.27% $525 $563,900 $1,529

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