Property Taxes on Single Family Homes Tops $306 Billion in U.S.

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Average property tax in 2019 was $3,561, up 2 percent with an effective tax rate of 1.14 percent

ATTOM Data Solutions is reporting this week that property tax analysis of more than 86 million U.S. single family homes in 2019 shows that property taxes levied on single family homes in 2019 totaled $306.4 billion, up 1 percent from $304.6 billion in 2018 and an average tax amount of $3,561 per home -- an effective tax rate of 1.14 percent.
 
The average property taxes of $3,561 for a single-family home in 2019 was up 2 percent from the average property tax of $3,498 in 2018, and the effective property tax rate of 1.14 percent in 2019 was down from the effective property tax rate of 1.16 percent in 2018.
 
The report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county levels along with estimated market values of single-family homes calculated using an automated valuation model (AVM). The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.
 
Illinois, New Jersey, Texas, Vermont, Connecticut post highest property tax rates

States with the highest effective property tax rates were Illinois (2.22 percent), New Jersey (2.19 percent), Texas (2.11 percent), Vermont (2.11 percent), and Connecticut (2.04 percent).
 
Other states in the top 10 for highest effective property tax rates were New Hampshire (1.93 percent), New York (1.87 percent), Pennsylvania (1.75 percent), Ohio (1.68 percent), and Nebraska (1.57 percent).
 
Among 220 metropolitan statistical areas analyzed in the report with a population of at least 200,000, those with the highest effective property tax rates were Binghamton, New York (3.11 percent); Syracuse, New York (3.00 percent); Rockford, Illinois (2.84 percent); Rochester, New York (2.80 percent); and Atlantic City, New Jersey (2.60 percent).
 
Property taxes increase faster than national average in 56 percent of markets

Out of the 220 metropolitan statistical areas analyzed in the report, 123 (56 percent) posted an increase in average property taxes above the national average of 2 percent, including Atlanta, Georgia (9 percent increase), Phoenix, Arizona (9 percent increase); Miami, Florida (5 percent increase); Washington, DC (4 percent increase); and Boston, Massachusetts (4 percent increase).
 
Other major markets posting an increase in average property taxes that was above the national average were Detroit, Michigan (up 9 percent); Austin, Texas (up 9 percent); Denver, Colorado (up 8 percent); Las Vegas, Nevada (up 7 percent); and Charlotte, North Carolina (up 5 percent).
 
Hawaii, Alabama, Colorado, Utah, Nevada post lowest property tax rates

States with the lowest effective property tax rates were Hawaii (0.36 percent), Alabama (0.48 percent), Colorado (0.52 percent), Utah (0.56 percent), and Nevada (0.58 percent).
 
Other states in the top 10 for lowest effective property tax rates were Tennessee (0.61 percent); West Virginia (0.61 percent), Delaware (0.62 percent), Arizona (0.63 percent), and Wyoming (0.65 percent).
 
Among the 220 metro areas analyzed for the report, those with the lowest effective property tax rates were Daphne, Alabama (0.33 percent); Honolulu, Hawaii (0.35 percent); Montgomery, Alabama (0.38 percent); Tuscaloosa, Alabama (0.39 percent); and Colorado Springs, Colorado (0.41 percent).
 
11 counties with average annual property taxes of more than $10,000

Among 1,448 U.S. counties with at least 10,000 single family homes, those with the highest average property taxes on single-family homes were largely located in the greater New York metro area, led by Westchester County, New York ($18,103); Rockland County, New York ($13,048); Marin County, California ($12,250); Essex County, New Jersey ($12,206); and Nassau County, New Jersey ($11,952).