Each year, the average American household spends $2,471 on real estate property taxes plus another $442 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.
The personal finance website WalletHub today recently released its 2021’s “Property Taxes by State” report detailing where residents are assessed more for these taxes.
The survey showed the states with the highest real estate taxes (in order of ranking) are New York, Nebraska, Texas, Wisconsin, Vermont, Connecticut, New Hampshire, Illinois and New Jersey.
The states with the highest vehicle property taxes are Kansas, Massachusetts, South Carolina, Maine, Connecticut, Missouri, Rhode Island, Mississippi and Virginia.
Key stats from the report were:
- Hawaii had the lowest real estate tax, $606, which is 8.9 times lower than in New Jersey, the state with the highest at $5,419.
- A total of 27 states levied some form of vehicle property tax. Of those states, Louisiana had the lowest, $25, which is 40.5 times lower than in Virginia, the state with the highest at $1,012.
- Blue states had 31.12 percent higher real estate property taxes, averaging $2,722. Red States averaged $2,076.