Owners of single-family homes paid an extra 6% in property tax in 2017 compared to the previous year according to a report from ATTOM Data Solutions
Owners of single-family homes paid an extra 6% in property tax in 2017 compared to the previous year according to a report from ATTOM Data Solutions.
Its analysis of more than 86 million US homes found that a total $293.4 billion was levied - an average $3,399 per home making an effective tax rate of 1.17%.
Effective property rates were highest in New Jersey (2.28%), Illinois (2.22%), Vermont (2.19%), Texas (2.15%) and New Hampshire (2.06%).
Of the 217 metropolitan statistical areas analyzed, 58% saw a rise of more than the 3% national average. These include Los Angeles (up 7%), Dallas (11%), and Houston (10%).
Seattle was another metro with an above-average rise, of 6%, but Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle housing market said that it wasn’t a surprise due to the number of voter-approved measures in the metro, which add to a homeowner’s costs.
"That said, this rapid rise in values of housing more than offsets this increase — therefore the relatively small effective tax rate,” he said.
Those with the lowest effective property tax rates were Honolulu (0.33%) ; Montgomery, Alabama (0.36%); Tuscaloosa, Alabama (0.41%); Colorado Springs, Colorado (0.42%); and Greeley, Colorado (0.45%).
