Each year, the average American household spends $2,690 on real-estate property taxes plus another $444 for residents of the 26 states with vehicle property taxes. With such high costs, it’s no surprise that more than $14 billion in property taxes go unpaid each year, according to the National Tax Lien Association.
In order to determine who pays the most relative to their state, the personal-finance website WalletHub today released its 2023’s Property Taxes by State report, as well as expert commentary. The report compares home and vehicle taxes across the nation and features insights from a panel of experts.
Property Taxes in Connecticut (1st=Lowest; 25th=Avg.):
- Real-Estate Property Tax Rank: 49th
- Vehicle Property Tax Rank: 45th
- Real-Estate Tax on Median State Home Value: $5,256
- Real-Estate Tax on Median U.S. Home Value: $6,153
- Vehicle Property Tax on Best-Selling Car: $555
For the full report, please visit:
https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585
photo: Getty
Photo: Getty Images