Each year, the average American household spends $2,869 on real-estate property taxes, plus another $448 for residents of the 26 states with vehicle property taxes. In order to determine who pays the most relative to their state, the personal-finance website WalletHub recently released its “Property Taxes by State in 2024” report.
The survey showed the states with highest real estate taxes were Iowa, Nebraska, Wisconsin, Texas, New York, Vermont, New Hampshire, Connecticut, Illinois and New Jersey.
The states with highest vehicle property taxes were New Hampshire, Wyoming, Kansas, Connecticut, Massachusetts, Maine, Missouri, South Carolina, Mississippi and Virginia.
Key takeaways from the report were:
- Hawaii has the lowest real-estate tax, which is 8.7 times lower than New Jersey, the state with the highest.
- Twenty-six states levy some form of vehicle property tax. Of those states, Louisiana has the lowest, which is 40.4 times lower than in Virginia, the state with the highest.
- Blue states have 29.17 percent higher real-estate property taxes, averaging $3,208, than red states, which average $2,483.