Understanding How State Property Taxes Work

US STATE AVERAGE PROPERTY RATE

Alabama 0.33%
Alaska 1.04%
Arizona 0.72%
Arkansas 0.52%
California 0.74%
Colorado 0.6%
Connecticut 1.63%
Delaware 0.43%
D.C 0.46%
Florida 0.97%
Georgia 0.83%
Hawaii 0.26%
Idaho 0.69%
Illinois 1.73%

Indiana 0.85%
Iowa 1.29%
Kansas 1.29%
Kentucky 0.72%
Louisiana 0.18%
Maine 1.09%
Maryland 0.87%
Massachusetts 1.04%
Michigan 1.62%
Minnesota 1.05%
Mississippi 0.52%
Missouri 0.91%
Montana 0.83%
Nebraska 1.76%
Nevada 0.84%
New Hampshire 1.86%
New Jersey 1.89%
New Mexico 0.55%
New York 1.23%
North Carolina 0.78%
North Dakota 1.42%
Ohio 1.36%
Oklahoma 0.74%
Oregon 0.87%
Pennsylvania 1.35%
Rhode Island 1.35%
South Carolina 0.5%
South Dakota 1.28%
Tennessee 0.68%
Texas 1.81%
Utah 0.6%
Vermont 1.59%
Virginia 0.74%
Washington 0.92%
West Virginia 0.49%
Wisconsin 1.76%
Wyoming 0.58%

A property tax is a levy distributed and enforced by a jurisdiction’s local government.

A property tax is delivered based on the value of the property; as a result, the levy is an ad valorem tax where the owner is required to pay. Property tax is a levy that is defined as a tax imposed by municipal governments where upon owners of real property within a jurisdiction are required to pay based on the value of their underlying property.


The property taxation model, since it is delivered on a local basis, will greatly vary based on each state. As stated before, the amount of taxation required is based off the value of the home. As a result of this model, the property taxes will invariably be increased in states where the property is considered more valuable.

The property tax rate by state is often delivered as a percentage, although it may be expressed as a per-mile (the amount of tax per thousand currency units of the property’s value).

A jurisdiction or local government will calculate a property’s tax rate by multiplying the assessed value of the property by the mill rate and then dividing that product by 1,000.

The property tax rates, in regards to the levy placed by each individual state, will greatly fluctuate based on that particular state’s economic variables. For instance, states that possess a hire median income or higher home prices will have higher property taxes than those states with lower median incomes and decreased home prices.

A complex macro-economic evaluation of the area and particular state is needed to evaluate the property taxes of a given community. That being said, all property tax rates will fluctuate on a case-by-case basis, as a result of the assessed value of the home in question. All property tax rates; however, are public information and can be observed by accessing the underlying community’s government website.

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