Property Taxes Paid by U.S. County

The Tax Foundation is reporting that in FY 2016, property taxes accounted for 31.5% of total state & local tax collections in the U.S – more than any other source of tax revenue.  However, they do rightly point out that property tax collections vary widely per state along with their rates.  And, as we’ve posted on before, some states rely heavily on an income tax (versus property taxes) and some don’t even have one at all.  With that all in mind, the Tax Foundation ran the numbers to see the places that collect the most in property taxes.  So who collects the most in property taxes? Look no further than the area around New York City where the top five counties reside.  Indeed…

“…higher median payments tend to be concentrated in urban areas…Because property taxes are assessed as a percentage of home values, it follows that higher property taxes are paid in places with higher housing prices.”

Click here to read the full report at the Tax Foundation.