But, but, but, there’s no inflation I’ve been told by Federal Reserve douchebags.
In 2018, property taxes on the nation’s 87 million U.S. single-family homes rose 4 percent to $293.4 billion, reaching an average of $3,498 per home, according to a new report from ATTOM Data Solutions, which runs a property database.
Property taxes have been a hot-button issue of late because of a $10,000 cap on deducting state and local taxes that was imposed as part of the Republican-led tax overhaul. Some homeowners in high-tax states have said the so-called SALT deduction cap means they owe the IRS this year, instead of getting refunds they received in previous years.
The SALT deduction cap “is putting this question back in people’s minds,” said Todd Teta, chief product officer at ATTOM. “Any state or local tax initiative has been heightened in people’s minds over the last two years, given it was in the news.”
There are indications property tax increases may be slowing in high-tax areas, Teta said. The difference between high-tax states and low-tax states has narrowed, resulting in a smaller gap between the states than in previous years, he added.
Coastal states with big metropolitan areas, such as New York and California, are among those with the highest property taxes, while Southern states had the lowest rates. The state with the lowest average property tax in 2018 was Alabama, at $788 per home.
U.S. states with the highest property taxes in 2018:
New Jersey: $8,780
Connecticut: $7,222
New York: $6,947
New Hampshire: $6,253
Massachusetts: $6,019
District of Columbia: $5,480
Rhode Island: $5,368
California: $5,354
Vermont: $5,331
Texas: $5,265
U.S. counties with the highest property taxes
Westchester, New York: $17,392
Rockland, New York: $12,925
Marin, California: $12,242
Essex, New Jersey: $12,161
Bergen, New Jersey: $11,771
Nassau, New York: $11,708
Union, New Jersey: $11,075
Fairfield, Connecticut: $10,754
Morris, New Jersey: $10,507
Passaic, New Jersey: $9,988
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We get the double wammy in the Land of 10,000 Taxes. Every year Minneapolis jacks up the valuation of our homes, and then adds a couple of percent to the property tax rate.
Here’s where the property tax is unfair – we are being taxed on the alledged asset value of our homes – but we have had no capital gain – since we still live there. And what does the property tax have to do with the services you are using. It’s the same as paying tax on an investment – but you haven’t sold it or realized a gain.
One little-know trick I have seen being used is the small, slow, addition of square footage when calculating taxes. No actual visit to the home by the town to verify square footage, but somehow 50, 75, or 100 square feet gets added on, even though no work was done. When asked about it, the towns claim “aerial footage” is used to determine the square footage. Uh huh. Sure.
Glad you tossed in Texas. Despite no state income tax, Texas’ property taxes are some of the most onerous in the nation and. in reality. those states that have an income tax are generally less taxed than property owners in Texas. Why buy a house or own property? You’ll never really own it, you merely lease it from the taxing entities. School districts take the biggest bite and look at what caliber of education those districts turn out.
$5,200 average property tax bill in Texas is onerous? Shit, that’s nothing. Besides, a $400k house in Texas is a palace, from what I hear – at least in metro DFW. Austin sounds higher priced. Count your blessings.
They raised our property tax for the first time in 10yrs (150$/yr more now for our cheap house). We live in a rural heavily Republican county, but taxes went up to pay for the schools. Mind you the schools have less students now then they did 10yrs ago, but costs continue to rise regardless.
We purposefully bought a home in a location we liked, but the home is small and not something the wife was excited about. 1,000sq ft only, so the assessment on it is low. I have zero desire to expand the house and get our taxes jacked. So once this place is paid off, I’m going to build a couple extra rooms in the barn (small gym and a Den type room). By doing that, no re-assessment or property tax hike. I hate the whole premise of paying a tax yearly on something I should own. I would rather pay more in income tax and have property taxes dumped, even if that hurt slightly more now, it would be a boon IF I ever retired. Although at this point I think migrating to a Red state sounds like a better plan if I can make it work.
Think you own your home? Try not paying your property taxes and see how that works out.
Property taxes : a scame by a tyranical parasitical government to confiscate private property owned by American citizens
By levying taxes against property true ownership of land is impossible . We are all turned by legislative action into tenents owning nothing and subservient to government !
As for public schools did not use them but am forced to pay to support the entire failing system with no say in the matter .
Somebody has to pay for all the immigration freebies and the property owner, home owners, will take a huge hit. Saw this coming long ago.
In California a good percentage of the property tax paying citizens are moving elsewhere – OUT TO OTHER STATES. Not only because of the huge water tax our last governor placed – then we were in a drought – and now we have abundance – but somebody has to fork the cost of his $77 Billion ( that’s “B”)bullet train to nowhere unless another Democrat cuts the money spigot off…..not likely, then again…who knows?
You can see this great work that will likely be stopped…right here – A bridge to nowhere –
https://www.cnbc.com/2018/03/12/californias-77-billion-high-speed-rail-project-is-in-trouble.html
True Story I Will Try to Stay on Point
Bought this land (Missouri Ozarks) in two swipes: 35 acres partially cleared during the Civil War (Pilot Knob battlefield within a day’s march) then the little stilt house and small acreage adjoining, which brought it to 40 acres give or take a half-acre either side of the fence row which nobody can clear anyway. Annual taxes for the five years we owned it with no “improvements” came to 300/400 tops, even before we merged both acreages and the little unoccupied shack counted.
The log home (appraised @250K by my deer-hunting real estate appraising cousin who wouldn’t lie to me pinkie swear) and barn (no appraisal but Mennonite built too!) more than quadrupled the tax bill.
We learned why folks put their outbuildings inside the tree line when Nick cleared a bunch of undergrowth and the old carport became visible from the road. We got a tax bill from the local tax assessor for the unreported improvements on the land.
The revenuers got shot around here because they were assholes about it then just like now. The Congresscritters should pay attention to what happened to the revenuers.
Now, I feel a digression coming on and am shutting up.
While property tax is rough, school taxes are much higher in nys.