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WalletHub study: 2023’s property taxes by state

Each year, the average American household spends $2,690 on real-estate property taxes plus another $444 for residents of the 26 states with vehicle property taxes. With such high costs, it’s no surprise that more than $14 billion in property taxes go unpaid each year, according to the National Tax Lien Association.

In order to determine who pays the most relative to their state, the personal-finance website WalletHub released its 2023’s Property Taxes by Statereport, as well as expert commentary. The report compares home and vehicle taxes across the nation and features insights from a panel of experts.

Property Taxes in California (1st=Lowest; 25th=Avg.):

  • Real-Estate Property Tax Rank: 16th
  • Vehicle Property Tax Rank: 28th
  • Real-Estate Tax on Median State Home Value: $1,828
  • Real-Estate Tax on Median U.S. Home Value: $4,279
  • Vehicle Property Tax on Best-Selling Car: $170

For the full report, please visit:
https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585

This article was released by WalletHub.