Recent analysis from the NAHB’s Eye on Housing says that $129 billion in taxes were paid by property owners in Q3 of 2023. They point out that In the four quarters ending Q3 2023, state & local governments collected $757 billion of property tax revenue—an 11.6% increase over Q3 2022. Indeed…
“The year-over-year growth rate of property tax revenue (trailing four-quarter total) has climbed from 1.7% to 11.6% since Q1 2022. Growth has exceeded 10% for three consecutive quarters for the first time since 2009. Gains have been driven by rising home value assessments, which can lag market prices by one to two years.”
Click here to read the full report at the Eye on Housing.
