- State Median Home Value: $764,800
- Effective Real-Estate Tax Rate: 0.27%
- Annual Taxes on Home Priced at State Median Value: $2,054
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Hawaii, the median home value is $764,800 with an effective real estate tax rate of 0.27%, resulting in annual taxes of $2,054 for a home at the state's median value. Hawaii's property taxes include a "Home Preservation Tax Credit" for historic homeowners offering relief based on income levels.
- State Median Home Value: $179,400
- Effective Real-Estate Tax Rate: 0.39%
- Annual Taxes on Home Priced at State Median Value: $701
- Effective Vehicle Tax Rate: 0.70%
- Annual Taxes on $25k Car: $185
In Alabama, the median home value is $179,400, resulting in annual property taxes of $701, with an effective real estate tax rate of 0.39%, while the effective vehicle tax rate is 0.70%, equating to $185 in annual taxes on a $25,000 car. Alabama also offers a special property tax exemption for disabled veterans.
- State Median Home Value: $465,900
- Effective Real-Estate Tax Rate: 0.49%
- Annual Taxes on Home Priced at State Median Value: $2,278
- Effective Vehicle Tax Rate: 1.79%
- Annual Taxes on $25k Car: $472
In Colorado, the median home value is $465,900 with an effective real-estate tax rate of 0.49%, resulting in annual taxes of $2,278; the effective vehicle tax rate is 1.79%, leading to annual taxes of $472 on a $25,000 car. Colorado offers a property tax exemption for active-duty military personnel, disabled veterans, and seniors over a certain age, potentially reducing property tax burdens for eligible residents.
- State Median Home Value: $373,800
- Effective Real-Estate Tax Rate: 0.50%
- Annual Taxes on Home Priced at State Median Value: $1,884
- Effective Vehicle Tax Rate: 1.77%
- Annual Taxes on $25k Car: $469
In Nevada, the median home value is $373,800 with an effective real estate tax rate of 0.50%, resulting in annual taxes of $1,884 for a home at that value, while the effective vehicle tax rate is 1.77%, resulting in annual taxes of $469 for a $25,000 car. Nevada does not impose a state income tax, which means property taxes play a more significant role in funding local government services than states with income taxes.
- State Median Home Value: $216,200
- Effective Real-Estate Tax Rate: 0.53%
- Annual Taxes on Home Priced at State Median Value: $1,138
- Effective Vehicle Tax Rate: 2.53%
- Annual Taxes on $25k Car: $668
In South Carolina, the median home value is $216,200 with an effective real estate tax rate of 0.53%, resulting in annual taxes of $1,138, while the effective vehicle tax rate is 2.53%, leading to annual taxes of $668 on a $25,000 car. South Carolina offers a homestead exemption for homeowners who are 65 years old or older, allowing them to exempt a portion of their home's value from property taxes.
- State Median Home Value: $198,300
- Effective Real-Estate Tax Rate: 0.55%
- Annual Taxes on Home Priced at State Median Value: $1,087
- Effective Vehicle Tax Rate: 0.10%
- Annual Taxes on $25k Car: $26
In Louisiana, the state's median home value is $198,300, resulting in annual property taxes of approximately $1,087, with an effective real-estate tax rate of 0.55%. Vehicle taxes are relatively low, with an effective rate of 0.10%, resulting in around $26 in annual taxes for a $25,000 car. Louisiana offers a Homestead Exemption program, which allows homeowners to exempt up to $75,000 of the assessed value of their primary residence from property taxes.
- State Median Home Value: $305,200
- Effective Real-Estate Tax Rate: 0.55%
- Annual Taxes on Home Priced at State Median Value: $1,674
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Delaware, the median home value is $305,200 with an effective real-estate tax rate of 0.55%, resulting in annual taxes of $1,674 for a home at the state median value, while there's a 0.00% effective vehicle tax rate, translating to $0 annual taxes on a car. Delaware is known for not having a statewide sales tax, making it an attractive destination for shoppers seeking tax-free purchases.
- State Median Home Value: $408,500
- Effective Real-Estate Tax Rate: 0.55%
- Annual Taxes on Home Priced at State Median Value: $2,241
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Utah, the median home value is $408,500 with an effective real-estate tax rate of 0.55%, resulting in annual taxes of $2,241 for a home at the median value, while there's no effective vehicle tax rate. Utah offers a property tax abatement program for seniors aged 65 or older, helping them reduce their property tax burden.
- State Median Home Value: $145,800
- Effective Real-Estate Tax Rate: 0.55%
- Annual Taxes on Home Priced at State Median Value: $809
- Effective Vehicle Tax Rate: 1.68%
- Annual Taxes on $25k Car: $443
In West Virginia, the median home value is $145,800, with an effective real estate tax rate of 0.55%, resulting in annual taxes of $809 for a home priced at the state median value. Additionally, the effective vehicle tax rate is 1.68%, leading to annual taxes of $443 on a $25,000 car. West Virginia offers property tax breaks for disabled veterans, providing relief on their property tax burden.
- State Median Home Value: $705,000
- Effective Real-Estate Tax Rate: 0.56%
- Annual Taxes on Home Priced at State Median Value: $3,957
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Washington, DC, the median home value is $705,000, with an effective real estate tax rate of 0.56%, resulting in annual taxes of $3,957 for a home at that value, while there's no effective vehicle tax rate. DC residents also benefit from a Homestead Deduction program, which provides property tax relief to eligible homeowners by reducing their assessed property value by $84,000 for tax purposes.
- State Median Home Value: $321,400
- Effective Real-Estate Tax Rate: 0.56%
- Annual Taxes on Home Priced at State Median Value: $1,786
- Effective Vehicle Tax Rate: 1.68%
- Annual Taxes on $25k Car: $444
In Arizona, the median home value is $321,400 with an effective real-estate tax rate of 0.56%, resulting in annual taxes of $1,786; the effective vehicle tax rate is 1.68%, leading to $444 in annual taxes for a $25,000 car. In addition to the federal solar tax credit, Arizona residents are eligible for a 25% state solar tax credit, property tax exemption, and sales tax exemption on solar equipment, giving homeowners an incentive to adopt renewable energy technology.
- State Median Home Value: $331,600
- Effective Real-Estate Tax Rate: 0.56%
- Annual Taxes on Home Priced at State Median Value: $1,872
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Idaho, the median home value is $331,600 with an effective real-estate tax rate of 0.56%, resulting in annual taxes of $1,872 for a home priced at the state median value. Additionally, the state boasts a 0.00% effective vehicle tax rate, meaning there are no annual taxes on a $25,000 car. Idaho offers a homeowner's exemption which reduces the assessed value of a primary residence by up to 50%, providing potential savings on property taxes.
- State Median Home Value: $269,900
- Effective Real-Estate Tax Rate: 0.58%
- Annual Taxes on Home Priced at State Median Value: $1,567
- Effective Vehicle Tax Rate: 1.80%
- Annual Taxes on $25k Car: $476
In Wyoming, the state median home value is $269,900 with an effective real-estate tax rate of 0.58%, resulting in annual taxes of $1,567 for a home priced at the state median. Additionally, the effective vehicle tax rate is 1.80%, leading to annual taxes of $476 for a $25,000 car. Wyoming does not have a state income tax, making property taxes a more significant source of revenue for the state government.
- State Median Home Value: $232,100
- Effective Real-Estate Tax Rate: 0.58%
- Annual Taxes on Home Priced at State Median Value: $1,356
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Tennessee, the state median home value is $232,100, with an effective real-estate tax rate of 0.58%, resulting in annual taxes of $1,356 for a home priced at the state median value. Additionally, there is a 0.00% effective vehicle tax rate, meaning there are no annual taxes on a $25,000 car. Tennessee does not levy an individual income tax, relying heavily on sales tax and property tax to generate revenue.
- State Median Home Value: $162,400
- Effective Real-Estate Tax Rate: 0.59%
- Annual Taxes on Home Priced at State Median Value: $959
- Effective Vehicle Tax Rate: 1.02%
- Annual Taxes on $25k Car: $269
In Arkansas, the median home value is $162,400 with an effective real estate tax rate of 0.59%, resulting in annual taxes of $959; for vehicles, the effective tax rate is 1.02%, leading to annual taxes of $269 on a $25,000 car. Arkansas allows for a homestead property tax credit for senior citizens, which can provide relief on property taxes for eligible individuals aged 65 and older.
- State Median Home Value: $659,300
- Effective Real-Estate Tax Rate: 0.71%
- Annual Taxes on Home Priced at State Median Value: $4,694
- Effective Vehicle Tax Rate: 0.65%
- Annual Taxes on $25k Car: $172
In California, the median home value is $659,300 with an effective real-estate tax rate of 0.71%, resulting in annual taxes of $4,694, and the effective vehicle tax rate is 0.65%, equating to $172 in annual taxes for a $25,000 car. Interestingly, California's property tax system includes Proposition 13, which rolled back most local real estate assessments to 1975 market value levels, limited the property tax rate to 1 percent plus the rate necessary to fund local voter-approved bonded indebtedness, and limited future property tax increases to a maximum of 2% per year.
- State Median Home Value: $234,900
- Effective Real-Estate Tax Rate: 0.73%
- Annual Taxes on Home Priced at State Median Value: $1,724
- Effective Vehicle Tax Rate: 1.15%
- Annual Taxes on $25k Car: $304
In North Carolina, the median home value is $234,900, resulting in annual property taxes of $1,724, with an effective real-estate tax rate of 0.73%, while for a $25,000 car, the annual vehicle tax is $304, with an effective tax rate of 1.15%. North Carolina offers a property tax relief program for qualified elderly or disabled residents, reducing their property tax burden.
- State Median Home Value: $216,000
- Effective Real-Estate Tax Rate: 0.74%
- Annual Taxes on Home Priced at State Median Value: $1,588
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In New Mexico, the median home value is $216,000 with an effective real-estate tax rate of 0.74%, resulting in annual taxes of $1,588 for a home priced at the state median value, and there's no vehicle tax. New Mexico offers property tax exemptions for military veterans, reducing their property tax burden.
- State Median Home Value: $151,000
- Effective Real-Estate Tax Rate: 0.76%
- Annual Taxes on Home Priced at State Median Value: $1,145
- Effective Vehicle Tax Rate: 3.46%
- Annual Taxes on $25k Car: $915
In Mississippi, the median home value is $151,000 with an effective real-estate tax rate of 0.76%, resulting in annual taxes of $1,145; additionally, the effective vehicle tax rate is 3.46%, leading to annual taxes of $915 on a $25,000 car. Mississippi offers a Homestead Exemption program that allows eligible homeowners to exempt a portion of their home's assessed value from property taxes, providing potential savings.
- State Median Home Value: $339,800
- Effective Real-Estate Tax Rate: 0.76%
- Annual Taxes on Home Priced at State Median Value: $2,591
- Effective Vehicle Tax Rate: 3.97%
- Annual Taxes on $25k Car: $1,050
In Virginia, the median home value is $339,800, with an effective real-estate tax rate of 0.76%, resulting in annual taxes of $2,591; meanwhile, the effective vehicle tax rate is 3.97%, leading to annual taxes of $1,050 on a $25,000 car. Virginia allows for a tax relief program for seniors and disabled individuals, providing exemptions or deferrals on property taxes based on income and age.
- State Median Home Value: $183,600
- Effective Real-Estate Tax Rate: 0.77%
- Annual Taxes on Home Priced at State Median Value: $1,415
- Effective Vehicle Tax Rate: 1.32%
- Annual Taxes on $25k Car: $350
In Indiana, the state's median home value is $183,600 with an effective real-estate tax rate of 0.77%, resulting in annual taxes of $1,415; the effective vehicle tax rate is 1.32%, equating to $350 annually for a $25,000 car. Indiana caps property taxes for homeowners at 1% of their property's assessed value, providing some relief compared to neighboring states.
- State Median Home Value: $305,700
- Effective Real-Estate Tax Rate: 0.79%
- Annual Taxes on Home Priced at State Median Value: $2,419
- Effective Vehicle Tax Rate: 1.20%
- Annual Taxes on $25k Car: $316
In Montana, the state median home value is $305,700, with an effective real estate tax rate of 0.79%, resulting in annual taxes of $2,419 for a home priced at the state median value. The effective vehicle tax rate is 1.20%, equating to $316 in annual taxes for a $25,000 car. Montana does not impose a general sales tax, relying instead on property taxes and other revenue sources to fund state and local government operations.
- State Median Home Value: $177,000
- Effective Real-Estate Tax Rate: 0.80%
- Annual Taxes on Home Priced at State Median Value: $1,418
- Effective Vehicle Tax Rate: 1.45%
- Annual Taxes on $25k Car: $382
In Kentucky, the median home value is $177,000 with an effective real-estate tax rate of 0.80%, resulting in annual taxes of $1,418; additionally, the effective vehicle tax rate is 1.45%, equating to $382 annually for a $25,000 car. Kentucky offers a homestead exemption, allowing eligible homeowners to receive a reduction in the assessed value of their primary residence for property tax purposes.
- State Median Home Value: $292,200
- Effective Real-Estate Tax Rate: 0.82%
- Annual Taxes on Home Priced at State Median Value: $2,386
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Florida, the median home value is $292,200, resulting in annual property taxes of $2,386, with an effective real-estate tax rate of 0.82%; additionally, there's a 0.00% effective vehicle tax rate, meaning no annual taxes on a $25k car. Florida is known for its homestead exemption, allowing eligible homeowners to reduce the taxable value of their primary residence by up to $50,000, which can significantly lower property tax bills.
- State Median Home Value: $245,900
- Effective Real-Estate Tax Rate: 0.83%
- Annual Taxes on Home Priced at State Median Value: $2,048
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Georgia, the median home value is $245,900, resulting in annual property taxes of $2,048, with an effective real-estate tax rate of 0.83%, while there's no vehicle tax for a car valued at $25,000. Georgia offers a homestead exemption, which allows homeowners to exempt a portion of their home's value from property taxation.
- State Median Home Value: $170,500
- Effective Real-Estate Tax Rate: 0.85%
- Annual Taxes on Home Priced at State Median Value: $1,445
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Oklahoma, the median home value is $170,500, with an effective real-estate tax rate of 0.85%, resulting in annual taxes of $1,445 for a home priced at the state median value. Oklahoma also exempts groceries from state sales tax, offering relief to residents on essential goods.
- State Median Home Value: $423,100
- Effective Real-Estate Tax Rate: 0.86%
- Annual Taxes on Home Priced at State Median Value: $3,633
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Oregon, the median home value is $423,100, with an effective real-estate tax rate of 0.86%, resulting in annual taxes of $3,633 for a home at the median value; interestingly, Oregon does not impose a vehicle tax, meaning there are no annual taxes on a $25,000 car. Oregon is one of the few states in the US without a state-wide sales tax, relying instead on income and property taxes for revenue.
- State Median Home Value: $473,400
- Effective Real-Estate Tax Rate: 0.88%
- Annual Taxes on Home Priced at State Median Value: $4,158
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Washington, the median home value is $473,400 with an effective real estate tax rate of 0.88%, resulting in annual taxes of $4,158, while the effective vehicle tax rate is 0.00%, meaning there are no annual taxes on a $25,000 car. Washington is one of the few states in the US that does not levy a state income tax, relying heavily on property taxes for revenue instead.
- State Median Home Value: $199,400
- Effective Real-Estate Tax Rate: 0.91%
- Annual Taxes on Home Priced at State Median Value: $1,812
- Effective Vehicle Tax Rate: 2.48%
- Annual Taxes on $25k Car: $655
In Missouri, the state median home value is $199,400, with an effective real-estate tax rate of 0.91%, resulting in annual taxes of $1,812 for a home at the state median value, while the effective vehicle tax rate stands at 2.48%, leading to $655 in annual taxes on a $25,000 car. Missouri offers a "circuit breaker" tax credit program designed to help older adults and individuals with disabilities living on fixed incomes stay in their homes by providing a credit towards the cost of their property taxes.
- State Median Home Value: $232,500
- Effective Real-Estate Tax Rate: 0.99%
- Annual Taxes on Home Priced at State Median Value: $2,294
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In North Dakota, the state median home value is $232,500, with an effective real-estate tax rate of 0.99%, resulting in annual taxes of $2,294 for a home at the median value, while there's no effective vehicle tax, meaning owners of a $25,000 car pay no annual taxes. North Dakota has a unique property tax exemption for wind turbines, contributing to its renewable energy initiatives.
- State Median Home Value: $380,500
- Effective Real-Estate Tax Rate: 1.02%
- Annual Taxes on Home Priced at State Median Value: $3,880
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Maryland, the median home value is $380,500, with an effective real estate tax rate of 1.02%, resulting in annual taxes of $3,880 for a home priced at the state median value, while there is a 0.00% effective vehicle tax rate, meaning no annual taxes on a $25,000 car. Maryland offers a Homestead Tax Credit, which limits the increase in taxable assessments each year for homeowners who live in their principal residence.
- State Median Home Value: $286,800
- Effective Real-Estate Tax Rate: 1.05%
- Annual Taxes on Home Priced at State Median Value: $3,000
- Effective Vehicle Tax Rate: 1.58%
- Annual Taxes on $25k Car: $416
In Minnesota, the median home value is $286,800, with an effective real-estate tax rate of 1.05%, resulting in annual taxes of $3,000; the effective vehicle tax rate is 1.58%, equating to $416 in annual taxes for a $25,000 car. Minnesota offers a property tax refund program for homeowners based on income, providing relief for eligible residents.
- State Median Home Value: $219,500
- Effective Real-Estate Tax Rate: 1.14%
- Annual Taxes on Home Priced at State Median Value: $2,496
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In South Dakota, the median home value is $219,500, with an effective real-estate tax rate of 1.14%, resulting in annual taxes of $2,496 for a home at that value, while there's no vehicle tax, resulting in $0 annual taxes for a $25,000 car. South Dakota does not levy any personal income tax, making property taxes a more significant source of revenue for funding state services and infrastructure.
- State Median Home Value: $483,900
- Effective Real-Estate Tax Rate: 1.15%
- Annual Taxes on Home Priced at State Median Value: $5,584
- Effective Vehicle Tax Rate: 2.25%
- Annual Taxes on $25k Car: $594
In Massachusetts, the median home value is $483,900 with an effective real-estate tax rate of 1.15%, resulting in annual taxes of $5,584; additionally, the effective vehicle tax rate is 2.25%, leading to annual taxes of $594 on a $25,000 car. Massachusetts offers property tax exemptions for certain groups such as veterans, seniors, and individuals with disabilities, potentially reducing their tax burden.
- State Median Home Value: $318,000
- Effective Real-Estate Tax Rate: 1.16%
- Annual Taxes on Home Priced at State Median Value: $3,687
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Alaska, the state median home value is $318,000 with an effective real-estate tax rate of 1.16%, resulting in annual taxes of $3,687. Alaska is the only state in the United States where a large part of the state's land mass is not subject to a property tax.
- State Median Home Value: $244,800
- Effective Real-Estate Tax Rate: 1.17%
- Annual Taxes on Home Priced at State Median Value: $2,855
- Effective Vehicle Tax Rate: 2.40%
- Annual Taxes on $25k Car: $634
In Maine, the median home value is $244,800, with an effective real-estate tax rate of 1.17%, resulting in annual taxes of $2,855. The effective vehicle tax rate is 2.40%, equating to $634 annually for a $25,000 car. Maine also offers a property tax exemption for veterans who meet certain criteria, providing relief on their property taxes.
- State Median Home Value: $189,300
- Effective Real-Estate Tax Rate: 1.34%
- Annual Taxes on Home Priced at State Median Value: $2,536
- Effective Vehicle Tax Rate: 2.04%
- Annual Taxes on $25k Car: $538
In Kansas, the median home value is $189,300 with an effective real-estate tax rate of 1.34%, resulting in annual taxes of $2,536; additionally, the effective vehicle tax rate is 2.04%, with annual taxes on a $25,000 car totaling $538. Kansas offers a Homestead Property Tax Refund Program for low-income homeowners to alleviate property tax burden.
- State Median Home Value: $201,100
- Effective Real-Estate Tax Rate: 1.35%
- Annual Taxes on Home Priced at State Median Value: $2,708
- Effective Vehicle Tax Rate: 0.61%
- Annual Taxes on $25k Car: $160
In Michigan, the median home value is $201,100, with an effective real-estate tax rate of 1.35%, resulting in annual taxes of $2,708 for a home at the state median value; additionally, the effective vehicle tax rate is 0.61%, equating to $160 in annual taxes for a $25,000 car. Michigan offers a Principal Residence Exemption (PRE) that can lower property taxes for homeowners who use the property as their primary residence.
- State Median Home Value: $343,100
- Effective Real-Estate Tax Rate: 1.39%
- Annual Taxes on Home Priced at State Median Value: $4,776
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Rhode Island, the median home value is $343,100, with an effective real-estate tax rate of 1.39%, resulting in annual taxes of $4,776 for a home at the state's median value, and the effective vehicle tax rate is 0.00%, translating to no annual taxes on a $25k car. Rhode Island offers a tax exemption for solar energy systems installed on residential properties, reducing property tax burdens for homeowners investing in renewable energy.
- State Median Home Value: $226,200
- Effective Real-Estate Tax Rate: 1.41%
- Annual Taxes on Home Priced at State Median Value: $3,187
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Pennsylvania, the median home value is $226,200, with an effective real-estate tax rate of 1.41%, resulting in annual taxes of $3,187 for a home priced at the state median value. Pennsylvania also offers a 0.00% effective vehicle tax rate, meaning there are no annual taxes on a $25,000 car.
- State Median Home Value: $183,300
- Effective Real-Estate Tax Rate: 1.43%
- Annual Taxes on Home Priced at State Median Value: $2,618
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Ohio, the median home value is $183,300, resulting in annual property taxes of $2,618, with an effective real-estate tax rate of 1.43%, while there's a 0.00% effective vehicle tax rate, meaning no taxes on a $25,000 car. Interestingly, Ohio's property tax system includes a homestead exemption, which provides relief to eligible homeowners by reducing the taxable value of their homes.
- State Median Home Value: $181,600
- Effective Real-Estate Tax Rate: 1.49%
- Annual Taxes on Home Priced at State Median Value: $2,703
- Effective Vehicle Tax Rate: 1.00%
- Annual Taxes on $25k Car: $264
In Iowa, the state median home value is $181,600, with an effective real estate tax rate of 1.49%, resulting in annual taxes of $2,703 for a home at that value, and an effective vehicle tax rate of 1.00%, equating to $264 in annual taxes for a $25,000 car. Iowa offers a military exemption for property taxes on residential property owned and used for the service member's primary residence.
- State Median Home Value: $205,600
- Effective Real-Estate Tax Rate: 1.54%
- Annual Taxes on Home Priced at State Median Value: $3,167
- Effective Vehicle Tax Rate: 1.59%
- Annual Taxes on $25k Car: $420
In Nebraska, the median home value is $205,600, with an effective real-estate tax rate of 1.54%, resulting in annual taxes of $3,167; the effective vehicle tax rate is 1.59%, leading to annual taxes of $420 for a $25,000 car. Nebraska is one of the few states where property taxes are primarily collected by counties rather than by the state government.
- State Median Home Value: $231,400
- Effective Real-Estate Tax Rate: 1.59%
- Annual Taxes on Home Priced at State Median Value: $3,670
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Wisconsin, the median home value is $231,400 with an effective real estate tax rate of 1.59%, resulting in annual taxes of $3,670; interestingly, Wisconsin exempts vehicles from property tax, resulting in a 0.00% effective vehicle tax rate and no annual taxes on a $25,000 car. Wisconsin offers a lottery credit program, providing property tax relief to eligible homeowners.
- State Median Home Value: $238,000
- Effective Real-Estate Tax Rate: 1.63%
- Annual Taxes on Home Priced at State Median Value: $3,872
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Texas, the median home value is $205,600, resulting in annual property taxes of $3,167, with an effective real-estate tax rate of 1.54%. Additionally, the effective vehicle tax rate is 1.59%, equating to annual taxes of $420 on a $25,000 car. Texas does not levy individual income taxes, relying heavily on property and sales taxes to fund government services.
- State Median Home Value: $384,100
- Effective Real-Estate Tax Rate: 1.64%
- Annual Taxes on Home Priced at State Median Value: $6,303
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In New York, the median home value is $384,100, resulting in annual property taxes of $6,303, with an effective real-estate tax rate of 1.64%. Surprisingly, New York City has one of the lowest property tax rates in the state, despite its reputation for high costs of living.
- State Median Home Value: $272,400
- Effective Real-Estate Tax Rate: 1.78%
- Annual Taxes on Home Priced at State Median Value: $4,859
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Vermont, the median home value is $272,400, resulting in annual property taxes of $4,859, with an effective real-estate tax rate of 1.78%; interestingly, Vermont has a unique tax exemption for electric vehicles, offering a $4,000 rebate, potentially impacting property tax revenue.
- State Median Home Value: $337,100
- Effective Real-Estate Tax Rate: 1.89%
- Annual Taxes on Home Priced at State Median Value: $6,372
- Effective Vehicle Tax Rate: 1.80%
- Annual Taxes on $25k Car: $476
In New Hampshire, the median home value is $337,100 with an effective real estate tax rate of 1.89%, resulting in annual taxes of $6,372 for a home at that value; the effective vehicle tax rate is 1.80%, equating to $476 in annual taxes for a $25,000 car. New Hampshire doesn't impose a statewide sales tax or income tax, relying heavily on property taxes to fund government services.
- State Median Home Value: $323,700
- Effective Real-Estate Tax Rate: 2.00%
- Annual Taxes on Home Priced at State Median Value: $6,484
- Effective Vehicle Tax Rate: 2.10%
- Annual Taxes on $25k Car: $554
In Connecticut, the state median home value is $323,700, resulting in annual property taxes of $6,484 at an effective rate of 2.00%, while a $25,000 car incurs $554 in annual taxes at a rate of 2.10%. Connecticut offers tax relief programs for eligible homeowners, such as the Elderly Homeowners' Program, which provides tax credits for elderly individuals on fixed incomes.
- State Median Home Value: $239,100
- Effective Real-Estate Tax Rate: 2.11%
- Annual Taxes on Home Priced at State Median Value: $5,055
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In Illinois, the state median home value is $239,100 with an effective real-estate tax rate of 2.11%, resulting in annual taxes of $5,055; interestingly, Illinois doesn't impose a vehicle tax. The state allows for various exemptions and deferrals for property taxes, such as the Senior Citizens Assessment Freeze Homestead Exemption, which freezes the assessed value of a qualifying senior's primary residence, providing some relief from property tax increases.
- State Median Home Value: $401,400
- Effective Real-Estate Tax Rate: 2.33%
- Annual Taxes on Home Priced at State Median Value: $9,345
- Effective Vehicle Tax Rate: 0.00%
- Annual Taxes on $25k Car: $0
In New Jersey, the median home value is $401,400, with an effective real estate tax rate of 2.33%, resulting in annual taxes of $9,345; however, the state has a 0.00% effective vehicle tax rate, meaning there are no annual taxes on a $25,000 car. New Jersey is known for its high property taxes, consistently ranking among the highest in the nation, partly due to its robust public education system which relies heavily on local property taxes for funding.
