The Ultimate Guide To Property Tax By State In 2023


How High Are Property Tax Collections in Your State? Tax Foundation
How High Are Property Tax Collections in Your State? Tax Foundation from taxfoundation.org

What is Property Tax?

Property tax is a tax that is imposed on homeowners and other property owners based on the value of their property. Property taxes are collected by local and state governments, and are used to fund essential services such as education, public safety and infrastructure. Property taxes vary widely across states, making it important to understand the laws in your state when it comes to this particular tax.

Property Tax by State in 2023

Property taxes vary widely from state to state. In the US, the five states with the highest property taxes in 2023 are New Jersey, Illinois, Texas, Connecticut, and New Hampshire. New Jersey has the highest property tax rate in the nation, with an average rate of 2.43%. Illinois has an average rate of 2.30%, Texas has an average rate of 1.92%, Connecticut has an average rate of 1.81%, and New Hampshire has an average rate of 1.73%.

Alabama

Alabama has the lowest property tax rate of any state in the US, with an average rate of 0.43%. Alabama also has one of the lowest median property taxes in the nation, at just $541 per year. Property taxes in Alabama are assessed by county and city governments, with the state government responsible for collecting the taxes.

Alaska

Alaska does not assess property taxes on real estate. Instead, the state collects a tax on personal property, such as cars and boats. The average rate is 0.43%. Alaska also has some of the lowest median property taxes in the nation, at just $943 per year.

Arizona

Arizona has an average property tax rate of 0.72%. The median property tax in Arizona is $1,274 per year. Property taxes in Arizona are assessed by county and city governments, with the state government responsible for collecting the taxes. Arizona also has some of the lowest median property taxes in the nation.

Arkansas

Arkansas has an average property tax rate of 0.64%. The median property tax in Arkansas is $837 per year. Property taxes in Arkansas are assessed by county and city governments, with the state government responsible for collecting the taxes. Arkansas also has some of the lowest median property taxes in the nation.

California

California has an average property tax rate of 0.79%. The median property tax in California is $2,213 per year. Property taxes in California are assessed by county and city governments, with the state government responsible for collecting the taxes. California is one of the states with the highest property taxes in the nation.

Colorado

Colorado has an average property tax rate of 0.77%. The median property tax in Colorado is $1,749 per year. Property taxes in Colorado are assessed by county and city governments, with the state government responsible for collecting the taxes. Colorado is one of the states with the highest property taxes in the nation.

Connecticut

Connecticut has the third highest property tax rate of any state in the US, with an average rate of 1.81%. The median property tax in Connecticut is $3,947 per year. Property taxes in Connecticut are assessed by county and city governments, with the state government responsible for collecting the taxes. Connecticut is one of the states with the highest property taxes in the nation.

Delaware

Delaware has an average property tax rate of 0.58%. The median property tax in Delaware is $1,079 per year. Property taxes in Delaware are assessed by county and city governments, with the state government responsible for collecting the taxes. Delaware is one of the states with the lowest property taxes in the nation.

Florida

Florida has an average property tax rate of 0.97%. The median property tax in Florida is $2,032 per year. Property taxes in Florida are assessed by county and city governments, with the state government responsible for collecting the taxes. Florida is one of the states with the highest property taxes in the nation.


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