Property Taxes Are the Expense That Homebuyers Forget About. Here’s What They Cost in Every State
On average, property taxes in the United States cost homeowners $2,471 annually. That number varies greatly based on where you are in the country, though most people looking to buy a home neglect to factor in the cost.
Based on a median home value of $217,500 in the United States, New Jersey residents are paying the most in property taxes: a whopping $5,419 annually. Illinois landed the second most expensive spot, at $4,942 annually. Meanwhile, states like Hawaii and Alabama pay about nine times less than those in…
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