For the average person deciding where to buy or rent a home, the process is far less romantic than throwing a dart at a map. A slew of factors make certain locales more or less attractive places to live — weather, culture and quality of local schools to name a few — plus all those elements that demand you loosen your purse strings. One often-overlooked piece of the moving puzzle is property taxes, a financial obligation that varies significantly across state lines.
- Property taxes vary across state lines and may affect whether homeowners can afford to buy or even rent in a given area.
- A recent analysis by WalletHub determined that the average American pays $2,127 in property taxes per year.
- In 2016, the states with the highest property taxes are New Jersey, Illinois and New Hampshire. In comparison, Hawaii, Alabama and Louisiana have the lowest real estate tax rates.
Big plans for business in 2018?
Give yourself the tools to own the new year at Connect SF, July 17-20, 2018