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Here is a list of states in order of lowest ranking property tax to highest: Sources: Effective Tax Rate, Tax Foundation. Median Home Value, U.S. Census Bureau 2022 American Community Survey Looking at Owner-Occupied Housing Units. While most U.S. homeowners must pay property taxes, some properties are exempt.
The states with the lowest effective property tax rates are Hawaii (0.27%), Alabama (0.40%), Colorado (0.50%), and Nevada (0.50%).
Tax-Rates.org provides detailed statistics on the property taxes collected in every county in the United States, as well as aggregated data for each of the states. The table above shows the fifty states and the District of Columbia, ranked from highest to lowest by annual property taxes as a percentage of the median home value.
For a long time now, Hawaii has consistently ranked at or near No. 1 as the state with the lowest property tax rate. Whether using its median property tax rate — 0.286% — or its mean (average)...
States with a higher property tax rate may still allow buyers to enjoy a lower bill if median home values are low. We have also ranked the lowest to highest property tax rates by state in 2024, which allows property owners to devise strategies for tax relief.
The states with lowest property tax include Hawaii with the lowest property tax rate at 0.29%, followed by states like Alabama, Colorado, Nevada, and Louisiana. New Jersey has the highest property tax rate at 2.47%, followed by Illinois, Connecticut, New Hampshire, and Vermont.
But which states have the largest property tax load, and what should residents keep in mind when it comes to meeting and minimizing their tax obligations? In search of answers, we analyzed the 50 states and the District of Columbia in terms of real-estate and vehicle property taxes.
Explore our list below to see the 16 states with the lowest property taxes by their average effective property tax rate. Also included are the median state home value, the median real estate taxes paid and the median household income.
In calendar year 2022 (the most recent data available), New Jersey had the highest effective rate on owner-occupied property at 2.08 percent, followed by Illinois (1.95 percent) and Connecticut (1.78 percent).
States with the Highest Property Taxes. New Jersey has the highest property tax rate of 2.49%. With a median home value of $3335,600, annual property taxes come out to about $8,356. Even with a home valued at $205,000, New Jersey property owners would pay $5,104 annually.