Property taxes are the lifeblood of local governments and municipalities across the United States, accounting for over 70% of all local tax revenue. Property taxes – such as taxes levied on homeowners and landowners – go to fund schools, parks, roads, and other public works and services.
While states typically impose a minimum property tax, property taxes are mostly determined at the local level – and are often a percentage of a property or home’s overall value. Depending on where you choose to buy a home, property taxes can range from negligible amounts to nearly matching a mortgage payment.
Across Florida, the effective annual property tax rate stands at 0.86%, the 25th lowest among states. For context, homeowners in the U.S. pay an average of 1.03% of their housing value in property taxes a year.
The effective property tax rate is calculated by taking the total amount of taxes paid on owner-occupied homes in a given area as a share of the total value of those homes. While an effective property tax rate is useful for comparing taxes at the state level, it is important to note that property tax rates can still vary considerably within a given state.
Because property taxes are typically levied as a share of a given home’s value, Americans living in places with higher home values often pay more in property taxes in dollar terms, even if the effective property tax rate is relatively low. In Florida, the typical home is worth $245,100, in line with the national median home value of $240,500.
All data in this story is from the Tax Foundation, a tax policy research organization, and the U.S. Census Bureau’s 2019 American Community Survey.
Rank | State | Effective property tax rate (% of home value) | Median home value ($) | Median household income ($) |
---|---|---|---|---|
1 | New Jersey | 2.13 | 348,800 | 85,751 |
2 | Illinois | 1.97 | 209,100 | 69,187 |
3 | New Hampshire | 1.89 | 281,400 | 77,933 |
4 | Vermont | 1.76 | 233,200 | 63,001 |
5 | Connecticut | 1.73 | 280,700 | 78,833 |
6 | Texas | 1.60 | 200,400 | 64,034 |
7 | Nebraska | 1.54 | 172,700 | 63,229 |
8 | Wisconsin | 1.53 | 197,200 | 64,168 |
9 | Ohio | 1.52 | 157,200 | 58,642 |
10 | Iowa | 1.43 | 158,900 | 61,691 |
11 | Pennsylvania | 1.43 | 192,600 | 63,463 |
12 | Rhode Island | 1.37 | 283,000 | 71,169 |
13 | Michigan | 1.31 | 169,600 | 59,584 |
14 | New York | 1.30 | 338,700 | 72,108 |
15 | Kansas | 1.28 | 163,200 | 62,087 |
16 | Maine | 1.20 | 200,500 | 58,924 |
17 | South Dakota | 1.14 | 185,000 | 59,533 |
18 | Massachusetts | 1.08 | 418,600 | 85,843 |
19 | Minnesota | 1.05 | 246,700 | 74,593 |
20 | Maryland | 1.01 | 332,500 | 86,738 |
21 | Alaska | 0.98 | 281,200 | 75,463 |
22 | Missouri | 0.96 | 168,000 | 57,409 |
23 | Oregon | 0.91 | 354,600 | 67,058 |
24 | North Dakota | 0.88 | 205,400 | 64,577 |
25 | Georgia | 0.87 | 202,500 | 61,980 |
26 | Florida | 0.86 | 245,100 | 59,227 |
27 | Washington | 0.84 | 387,600 | 78,687 |
28 | Virginia | 0.84 | 288,800 | 76,456 |
29 | Oklahoma | 0.83 | 147,000 | 54,449 |
30 | Indiana | 0.81 | 156,000 | 57,603 |
31 | Kentucky | 0.78 | 151,700 | 52,295 |
32 | North Carolina | 0.78 | 193,200 | 57,341 |
33 | Montana | 0.74 | 253,600 | 57,153 |
34 | California | 0.70 | 568,500 | 80,440 |
35 | Idaho | 0.65 | 255,200 | 60,999 |
36 | Tennessee | 0.63 | 191,900 | 56,071 |
37 | Mississippi | 0.63 | 128,200 | 45,792 |
38 | Arkansas | 0.61 | 136,200 | 48,952 |
39 | Arizona | 0.60 | 255,900 | 62,055 |
40 | New Mexico | 0.59 | 180,900 | 51,945 |
41 | Delaware | 0.59 | 261,700 | 70,176 |
42 | Nevada | 0.56 | 317,800 | 63,276 |
43 | Utah | 0.56 | 330,300 | 75,780 |
44 | South Carolina | 0.53 | 179,800 | 56,227 |
45 | West Virginia | 0.53 | 124,600 | 48,850 |
46 | Colorado | 0.52 | 394,600 | 77,127 |
47 | Wyoming | 0.51 | 235,200 | 65,003 |
48 | Louisiana | 0.51 | 172,100 | 51,073 |
49 | Alabama | 0.37 | 154,000 | 51,734 |
50 | Hawaii | 0.31 | 669,200 | 83,102 |
Why not put this information in context and analyze how much Fernandina Beach home owners taxes have risen over the years? Why is Suanne Thamm’s name associated with the article, since she didn’t write a word of it? What’s the point of this article –to show that Florida home owners pay more in taxes that those in California?
Also not mentioned are the other taxes that come into play. Florida real estate taxes are more reasonable than other places, but taxes on food, for example, don’t exist anywhere else. Florida has more of a “use tax” policy — if you use it, pay taxes on it. This article is a very incomplete picture.
Most of the articles are.
You seem confused by the difference between “Posted by…” and “Written by…”, although they can at times refer to the same person. All articles are posted by either a person (who may or may not be the author) or as a press release. This is undoubtedly a requirement of the publishing software used. It’s a bit odd that you would choose this article to raise an objection when it’s a format used on all stories published by FO. Also note that this article appears under “General” and not “City News”. Otherwise, your questions seem better directed at Samuel Stebbins, who works for 24/7 Wall St.
One thing is for certain; the government is going to get their share of your money no matter how you slice it. Sick.
You get what you pay for. With no income tax and sales tax being low, property taxes are one of the biggest ways for the state to get money for needed services. It’s not very much. Teachers, healthcare workers, police and fire workers, are all underpaid, creating constant turnover in staff. Unemployment benefits are paltry, forcing breadwinners to take minimum wage jobs, which keeps people in poverty. There’s rarely money for acquisition of critical lands and habitat, and regulatory staff, which keeps us safe, are few and far between. Developer fees are low, which means within a few years after a development is built, the counties and cities are left holding the bill for the services of all those new people and commercial establishments. Roads are in constant need of repair. And then Republicans decry Congress and the executive branch offering to help states, but they take that money, anyway, often just to be able to balance the state budget. When DeSantis shouts how great Florida’s state budget is, remember there’s no way he could’ve balanced it without federal aid. Again, you get what you pay, and vote, for.
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