The average annual property tax levied on single family homes in the U.S. in 2016 was 1.15 percent or $3,296, according to an analysis by ATTOM Data Solutions.
ATTOM’s tax analysis of more than 84 million homes found the highest tax rates in New Jersey, Illinois, Texas, New Hampshire and Vermont. In total, more than $277 billion in property taxes were levied on single family homes last year.
ATTOM’s report analyzed property tax data from county tax assessors across the country. It found the highest tax rates in New Jersey (2.31 percent); Illinois (2.13 percent); Texas (2.06 percent); New Hampshire (2.03 percent); and Vermont (2.02 percent).
States with the lowest property tax rates were Hawaii (0.32 percent); Alabama (0.48 percent); Colorado (0.52 percent); Tennessee (0.54 percent); and Delaware (0.56 percent).
The highest property tax rates for large cities were found in Binghamton, N.Y. (3.10 percent); Rochester, N.Y. (2.99 percent); Rockford, Ill. (2.96 percent); Atlantic City, N.J. (2.77 percent); and Syracuse, N.Y. (2.67 percent).
The lowest property tax rates for large cities were found in were Honolulu (0.32 percent); Montgomery, Ala. (0.35 percent); Tuscaloosa, Ala. (0.36 percent); Florence, S.C. (0.44 percent); and Colorado Springs, Colo. (0.44 percent).
Nationwide, ATTOM’s analysis found nine counties with average annual property taxes above $10,000. They were Westchester, Rockland, and Nassau counties in N.Y.; Essex, Bergen, Union and Morris counties in N.J.; Marin County, Calif.; and Fairfield County, Conn.
The analysis also found that owner-occupied properties had higher average property taxes than investment properties, with an average rate of 1.21 percent being levied against owner-occupied single family homes compared with an average rate of 1.03 percent levied against non-owner occupied (investment) homes.