New data from ATTOM says the average tax on single-family homes increased at the smallest pace in five years, rising 1.8% from $3,719 in 2020 to $3,785 in 2021. Interestingly, their report says the latest figures show an average effective tax rate of 0.9%, down from 1.1% in 2020. The data comes from ATTOM’s 2021 Property Tax Analysis report. Indeed…
- States with the highest effective property tax rates in 2021 included Illinois (1.86%), New Jersey (1.73%), Connecticut (1.67%), Vermont (1.55%) and Pennsylvania (1.37%).
- States with the lowest effective tax rates in 2021 were in Hawaii (0.27%), Alabama (0.37%), Utah (0.39%), Arizona (0.41%) and Nevada (0.41%).
In addition, among the 220 metro areas around the country with a population of at least 200k in 2021, 19 of the 20 highest effective tax rates were in the Northeast and Midwest – with nine of the top 10 being in New York, Connecticut and Illinois.
Click here to read the full report at ATTOM.