With income tax season now over for most of us (hopefully) we can turn our attention to that other inevitable form of taxation – property taxes. According to a recent report from ATTOM Data, property taxes levied on single family homes totaled $304.6 billion in 2018, up 4% from 2017. Their analysis says this averages $3,498 per home (up 3% from 2017) and is an effective tax rate of 1.16%. To get their data, ATTOM analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county levels along with estimated market values of single family homes calculated using an automated valuation model (AVM). The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area. Indeed…
“Property taxes levied on homeowners rose again in 2018 across most of the country,” said Todd Teta, chief product officer for ATTOM Data Solutions. “While many states across the country have imposed caps on how much taxes can go up, which probably contributed to a slower increase in 2018 versus 2017…”
Click here to read the full story at ATTOMdata.com.
