Tax season is fast approaching and two-thirds of Americans are homeowners who are subjected to property taxes every year. Most people pay up to $2,471 only on real estate property taxes. In many states, people face a high property tax burden. Since property tax is the primary source of income for local and state governments it keeps on fluctuating from high to low. This blog post will help you to know the states ranked by property tax.

Who assigns the value for your property?

The appraiser sets the value, of your property and is the official party who does so. They work for the government and the appraiser properly assesses your property to give the exact value. The appraiser can set value for your home based on three methods such as cost approach, income approach, and market approach. That’s why few states are named as worst property tax states.

States with highest property taxes:

Some states tend to pay higher taxes up to $8000 based on their state median home value. New Jersey is the state with the highest property tax. Here is a list of the top 5 states with high property taxes.

State Effective tax rate State median value
New Jersey 2.49% $8,362
Illinois 2.27% $4,419
New Hampshire 2.18% $5,701
Connecticut 2.14% $5,898
Vermont 1.90% $4,329

States with lowest property taxes:

State Effective tax rate State median value
Hawaii 0.28% $606
Alabama 0.41% $895
Colorado 0.51% $1,113
Louisiana 0.55% $1,187
South Carolina 0.57% $1,238

If you are living in the highest property tax-paying states, then you might need a solution to reduce your property taxes. You can move to another state by calculating a state tax comparison with the lowest tax rates. But if you are ready to protest your tax legally then O’Connor Property Tax Consultants is here to help you out!

What do we do?

We abide by state law procedures to protest for your property taxes. We help in assisting you throughout the tax reduction process. We research and prepare on behalf of you at informal hearings. With us, you are not billed for court costs, appraisals, or legal fees. Start protesting your property taxes with us now

Enroll now to reduce more starting from this year!