WalletHub Study: New Jersey Is 2019’s State with the Highest Real-Estate Property Taxes
Each year, the average American household spends $2,279 on real-estate property taxes plus another $440 for residents of the 27 states with vehicle property taxes. With such high costs, it’s no surprise that more than $14 billion in property taxes go unpaid each year, according to the National Tax Lien Association.
In order to determine who pays the most relative to their state, the personal-finance website WalletHub today released its 2019 Property Taxes by State report as well as accompanying videos, which compares home and vehicle taxes across the nation and features insights from a panel of experts.
Property Taxes in New Jersey (1st=Lowest; 25th=Avg.):
- Real-Estate Property Tax Rank: 51st
- Vehicle Property Tax Rank: 1st
- Real-Estate Tax on Median State Home Value: $7,840
- Real-Estate Tax on Median U.S. Home Value: $4,725
- Vehicle Property Tax on Best-Selling Car: $0.00
For the full report, please visit:
https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585/