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Owning a home comes at a cost, but some properties are more taxing than others.: Attom Data Solutions, a national property resource, has analyzed 3,006 U.S. counties to find out which had the highest and lowest property tax rates in 2020.
RESIDENTS PAY THE HIGHEST PROPERTY TAXES IN THESE STATES
Overall, the five states Attom identified as having the highest property tax rates, on average, were New Jersey (2.2%), Illinois (2.18%), Texas (2.15%), Vermont (1.97%) and Connecticut (1.92%).
In New Jersey, the highest average property tax on a single-family home in 2020 was $9,196, according to Attom’s data. Meanwhile, single-family homes in Connecticut had a pricy average of $7,395.
New York was another state to make it onto Attom’s top 10, with an average property tax of $6,628 for a single-family home in 2020. When broken down on the county level, the Big Apple is also home to 5 of the 10 counties with the highest effective property tax rates.
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As for the five states Attom identified as having the lowest average effective property tax rates in 2020, it goes to Hawaii (0.37%), Alabama (0.44%), West Virginia (0.51%), Colorado (0.54%) and Utah (0.54%).
Alabama reportedly has the lowest average tax levy at $841 for a single-family home in the state. The other four states that rounded out Attom’s list for having the lowest property taxes for a single-family home were West Virginia ($849), Arkansas ($1,147), Tennessee ($1,202) and Mississippi ($1,241).