The average American household spends $2,089 on real estate property taxes each year, according to the latest report from WalletHub.
Roughly $15 billion-worth of homes are also foreclosed upon as a result of property tax delinquencies each year, according to the National Tax Lien Association.
With those numbers in mind, the analsysts at WalletHub have released their list of the states with the Highest & Lowest Property Taxes in 2015.
“…(W)hile property taxes may appear to be a non-issue for the 36% of people who rent their homes, that couldn’t be farther from the truth,” the report says. “We all pay for property taxes, whether directly or indirectly, as they impact the rent we pay as well as the finances of state and local governments.”
Among the other findings:
- Real estate taxes are eight times higher in New Jersey than in Hawaii.
- 27 states levy some sort of vehicle property tax. Such taxes are 13 times higher in Rhode Island than in Montana.
- Real estate property taxes in the average Blue State ($2,250) are 39% higher than those in the average Red State ($1,613).
Here is the list
And here’s a fun interactive timeline map.