Property Taxes

Single-Family Home Property Taxes Rose by 6 Percent Last Year

Property taxes levied on single family homes in 2017 totaled $293.4 billion, up 6 percent from $277.7 billion in 2016 and an average of $3,399 per home, according to property database curator ATTOM Data Solutions.

This averages out to an effective tax rate of 1.17 percent.

The average property taxes of $3,399 for a single family home in 2017 was up 3 percent from the average property tax of $3,296 in 2016, and the effective property tax rate of 1.17 percent in 2017 was up from the effective property tax rate of 1.15 percent in 2016.

New Jersey, Illinois, Vermont, Texas, New Hampshire post highest property tax rates

States with the highest effective property tax rates were New Jersey (2.28 percent), Illinois (2.22 percent), Vermont (2.19 percent), Texas (2.15 percent), and New Hampshire (2.06 percent).

Other states in the top 10 for highest effective property tax rates were Pennsylvania (2.02 percent), Connecticut (1.99 percent), New York (1.92 percent), Ohio (1.72 percent), and Wisconsin (1.67 percent).

Among 217 metropolitan statistical areas analyzed in the report with a population of at least 200,000, those with the highest effective property tax rates were Scranton, Pennsylvania (3.93 percent); Binghamton, New York (3.14 percent); Rockford, Illinois (3.03 percent); Rochester, New York (2.93 percent); and El Paso, Texas (2.63 percent).

Property taxes increase faster than national average in 58 percent of markets

Out of the 217 metropolitan statistical areas analyzed in the report, 125 (58 percent) posted an increase in average property taxes above the national average of 3 percent, including Los Angeles (7 percent increase), Dallas (11 percent increase), Houston (10 percent increase), Philadelphia (4 percent increase), and Miami (5 percent increase).

Other major markets posting an increase in average property taxes that was above the national average were Atlanta(up 4 percent), Boston (up 5 percent), San Francisco (up 6 percent), Riverside-San Bernardino (up 5 percent), and Seattle(up 6 percent).