Property taxes. USA

Property taxes. USA

Real estate costs are the largest item of expenditure for most homeowners in the United States, while most part of those costs obviously constitute mortgage payments, but there are also other expenses such as insurance and property taxes. Property taxes are a huge burden for many homeowners, and in some areas of the country they can easily exceed the cost of the mortgage payment itself. For example, in New Jersey, in 2015, the property tax increased by $ 8,353 in average throughout the state.

So how much does a regular American spend on property taxes? According to the US Census Bureau, the average amount of such payments is $ 2,127 on property taxes per year. However, in some states, the right to own a house in America can 10 times exceed this figure.If you live in Hawaii, Alabama, Louisiana, or Delaware – you are lucky as they have the lowest tax rates on real estate in the country.

At the same time, New Jersey, Illinois, New Hampshire, and Wisconsin have the highest rates.

Please see below the full list of tax rates for all 50 states and the District of Columbia: