WalletHub: 2021’s property taxes by state

National & World

(WALLETHUB) – Depending on where you live, property taxes can be a small inconvenience or a major burden. The average American household spends $2,471 on property taxes for their homes each year, according to the U.S. Census Bureau, and residents in 27 states spend another $442 on vehicle property taxes. According to the National Tax Lien Association, $14 billion in property taxes go unpaid each year.

WalletHub analyzed the 50 states and the District of Columbia in terms of real-estate and vehicle property taxes to find out which states have the largest property tax load. Data from the U.S. Census Bureau and each state’s Department of Motor Vehicles was used to determine property tax rates.

The state of Illinois has the second-highest real-estate property tax rates at 2.27 percent, below New Jersey, while both Indiana and Kentucky rank toward the middle at 0.85 percent and 0.86 percent respectively.

Indiana and Kentucky are both among the states that have vehicle property taxes. People in Indiana pay a tax rate of 1.20 percent, while Kentuckians pay a little more at 1.45 percent. Illinois does not pay a vehicle property tax.

(This story was originally published on February 23, 2021)

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