Property taxes levied on single-family homes in 2018 totaled $304.6 billion, up 4 percent from $293.4 billion in 2017, according to a property tax analysis by ATTOM Data Solutions.
ATTOM said the property taxes levied on single-family homes averaged $3,498 per home, up 3 percent compared with the average property tax of $3,399 in 2017. That equals an effective property tax rate of 1.16 percent in 2018, down slightly compared with the effective property tax rate of 1.17 percent in 2017.
“Property taxes levied on homeowners rose again in 2018 across most of the country,” ATTOM Chief Product Officer Todd Teta said in a release. “While many states across the country have imposed caps on how much taxes can go up, which probably contributed to a slower increase in 2018 versus 2017, there are still many factors at play that can contribute to local property tax hikes, and without major changes in the way a community runs public services, tax rates must rise to pay for them.”
According to the analysis, the states with the highest effective property tax rates in 2018 were New Jersey (2.25 percent); Illinois (2.22 percent); Texas (2.18 percent); Vermont (2.16 percent); and Connecticut (2.02 percent). Other states in the top 10 for highest property tax rates were New Hampshire (1.99 percent); New York (1.86 percent); Pennsylvania (1.79 percent); Ohio (1.69 percent); and Wisconsin (1.58 percent).
The states with the lowest effective property tax rates in 2018 were Hawaii (0.37 percent); Alabama (0.48 percent); Colorado (0.51 percent); Nevada (0.57 percent); and Utah (0.57 percent).
Nationwide, there were nine counties with average annual property taxes of more than $10,000 in 2018. Those counties were Westchester County, N.Y. ($17,392); Rockland County, N.Y. ($12,925); Marin County, Calif. ($12,242); Essex County, N.J. ($12,161); and Bergen County, N.J. ($11,771).