What do Hawaii and New Jersey have in common? Probably not much, but especially when it comes to property taxes, per WalletHub, which says what you pay on your real estate can range from a "small inconvenience" to a "major burden." The Aloha State falls under the former's umbrella, designated as the state with the lowest property taxes, per the site's analysis of US Census Bureau data on real estate taxes and median home values. The Garden State, meanwhile, is the highest-taxed state in the land. Here, the top nine other states that deplete homeowners' wallets:
- New Jersey: 2.44% effective tax rate, $321,100 median home value, $7,840 annual taxes on home priced at median home value
- Illinois: 2.31%, $179,700, $4,157
- New Hampshire: 2.20%, $244,900, $5,388
- Connecticut: 2.07%, $270,100, $5,582
- Wisconsin: 1.94%, $169,300, $3,286
- Vermont: 1.83%, $220,600, $4,040
- Texas: 1.83%, $151,500, $2,775
- Nebraska: 1.80%, $142,400, $2,565
- New York: 1.68%, $293,000, $4,915
- Rhode Island: 1.66%, $242,200, $4,013
Read on for the states with the lowest property taxes.
- Hawaii: .27% effective tax rate, $563,900 median home value, $1,529 annual taxes on home priced at median home value
- Alabama: .42%, $132,100, $558
- Louisiana: .52%, $152,900, $795
- Colorado: .55%, $286,100, $1,575
- District of Columbia: .55%, $537,400, $2,930
- Delaware: .56%, $238,600, $1,329
- South Carolina: .57%, $148,600, $851
- West Virginia: .59%, $111,600, $653
- Wyoming: .61%, $204,900, $1,256
- Arkansas: .63%, $118,500, $743
Find out
here how much your state demands. (Check out the
10 most and least valuable states.)