Property taxes are a key factor for homebuyers when deciding if, and where, they want to buy a home. The average American household spends $2,127 annually on property taxes, according to an article by John Kiernan for WalletHub.
Each year, about $11.8 billion property taxes go unpaid, according to the article. Although not everyone owns a home, property taxes can also affect the prices to rent.
By consulting a panel of leading property-tax experts for practical and political insights, WalletHub came up with a list of property tax rates in each state.
Among some of the highest tax rates are New Jersey with 2.29%, Illinois with 2.25% and New Hampshire with 2.1%. Check article for the full list.
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(Source: WalletHub)
