Key Highlights

  • Average US property tax on single-family home in 2020 was $3,719, according to ATTOM Data Solutions
  • $3,719 was +4.4% increase from 2019 tax yea 

What Are Property Taxes?

Real estate property taxes are a given when owning or investing in real estate. Property taxes are a significant revenue source for state and local governments that pay for state and local departments/projects like police departments and infrastructure projects like bridges and roads.

According to ATTOM Data Solutions, the average property tax in 2020 on a single-family house in the US was $3,719, an increase of +4.4% from 2019.

With an average US income of $87,864, an average property tax of $3,719 would represent 4.23% of an average earner’s take-home pay.  Obviously, potential investors and buyers need to pay attention to a property’s local tax rate.

Buyers and investors…expect property taxes to go up year after year in even in the friendliest property tax states.  Remember that those property taxes pay for the essential services for and where the property lives.

10 States with Lowest Property Tax Rates

  1. Hawaii
    1. Lowest property tax rates in country at .31% of homes value
    2. Currently, median home price in Hawaii is $646,733
  2. Alabama
    1. Second lowest accessed property taxes in country at .37% of home’s value currently
    2. Average price of home is $147,539
    3. Average amount of property taxes on average priced home is $545.89.
  3. Louisiana
    1. Median effective tax rate is .51% though rates vary from county to county
    2. Average home price in Louisiana is $171,485
    3. Average homeowner pays $874.57 in Louisiana state property taxes
  1. Wyoming
    1. Consistent with Louisiana, property tax rate in Wyoming is .51% of home’s value
    2. Median home price in Louisiana is $254,753
    3. Average homeowner in Wyoming pays more in property taxes than in Louisiana
  2. Colorado
    1. Property tax rate is .52% in Colorado
    2. Median home price is $412,819
  3. South Carolina
    1. Average homeowner/investor pays property tax rate of .53% of a home’s value
    2. State known for manufacturing and great beaches as well as low taxes
  4. West Virginia
    1. Consistent with South Carolina, West Virginia’s property tax rate is.53% of a home’s value
    2. Lots to do and see in this Appalachian Mountains state
  5. Nevada
    1. Effective property tax rate in Nevada is .56% of home’s value
  6. Utah
    1. Utah’s tax rate ties with Nevada’s at .56% of home’s value
    2. Utah home to Canyonlands National Park and the Grand Staircase-Escalante National Monument plus burgeoning tech opportunities
  7. District of Columbia
    1. Nation’s capital has effective property tax rate of .58%

Thanks to Tax Foundation and Millionacres.


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