These Are the Finest Counties for Property Taxes—by Area
Property taxes could make or break a house buy. Contemplate sure areas of the Northeast the place property taxes are notoriously excessive—like Hunterdon County, New Jersey (which has the third-highest property taxes within the nation), the place I grew up. Once we offered our household dwelling (assessed at $548,700) in 2009, our property taxes have been an outrageous $15,620. Right now I dwell in a house of comparable worth in Jefferson County, Colorado, the place I pay lower than $three,000 a 12 months in property taxes.
Between 2011 and 2015, based on evaluation by the U.S. Census Bureau, the median annual property tax invoice within the U.S. was round $2,150. However this elevated to $10,000 a 12 months or extra in some areas of the northeast (together with New Jersey) throughout that point interval.
This week, data firm RewardExpert launched its rating of the Finest U.S. Counties for Property Taxes — in hopes of serving to potential homebuyers catch a break on their subsequent property buy. “Shopping for a house is a giant transfer and is commonly a household’s greatest monetary funding,” stated RewardExpert co-founder and CEO Roman Shteyn in a press launch. “It may well appear unfair to proceed paying for a home that has already been purchased and paid for, so selecting the best place to take a position may help mitigate long-term bills.”
The report identifies the highest 5 counties within the six main geographical areas of the nation: northeast, south atlantic, south central, midwest, mountain west, and pacific west. The total report may be considered right here, however we’ll have a look at the highest counties in every area on this submit.
Sussex County, Delaware
This coastal county located on the Delmarva Peninsula takes first place within the area, because of its evaluation ratio: the county solely levies taxes on 50 % of a property’s market worth, lowering its already low .75 % property tax to an efficient .37 % price.
Common annual tax invoice in Sussex County: $1,228
Darlington County, South Carolina
South Carolina assess property at full market worth, however the first $100,000 of a house’s assessed worth is exempt. The median property worth on this county (northwest of Myrtle Seaside) is $139,00, which ends up in a tax invoice based mostly solely on $39,000.
Common annual tax invoice in Darlington County: $146
Crawford County, Arkansas
The south central area is dominated by counties in Arkansas and New Mexico — as a result of low property assessments there. Within the Ozarks’ Crawford County, property tax payments quantity to only over one-tenth of a % of the typical dwelling worth.
Common annual tax invoice in Crawford County: $192
Grant County, Indiana
Grant County properties have a median sale worth of $75,945, and tax payments listed here are the bottom within the nation.
Common annual tax invoice in Grant County: $24.50
Pueblo County, Colorado
Colorado sweeps the area for low property taxes. Right here, residential property is assessed at a really low 7.96 % of truthful market worth. Pueblo County affords modest property values (a mean dwelling sells for $205,000) and exceptionally inexpensive yearly tax payments.
Common annual tax invoice in Pueblo County: $371
Klamath County, Oregon
Stunning Klamath County is dwelling to a number of the most inexpensive actual property within the area (the median sale worth is $194,000). The county prices an inexpensive 1.23 % tax price, and Oregon has no property switch tax.
Common annual tax invoice in Klamath County: $2,378
For extra on nationwide property tax burdens, try this interactive map!
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