Property taxes are a fundamental part of homeownership, but they can vary dramatically depending on where you live. For real estate investors and homeowners alike, understanding these differences is crucial for budgeting, evaluating potential investments, and making informed financial decisions.
To give you a clearer picture, here is a look at the effective property tax rates across the country, based on a 2025 analysis:
States with the Lowest Effective Property Tax Rates:
- Hawaii: 0.27%
- Alabama: 0.39%
- Colorado: 0.49%
- Nevada: 0.50%
- Louisiana: 0.55%
States with the Highest Effective Property Tax Rates:
- New Jersey: 2.23%
- Illinois: 2.08%
- New Hampshire: 1.93%
- Connecticut: 1.79%
- Vermont: 1.76%
While these rates provide a useful overview, it’s important to remember that they are just averages. Your specific property tax bill will depend on your local millage rate (which can be set by the county, city, and school district), as well as your home’s assessed value.
To get a more precise estimate for your own situation, a property tax calculator is an invaluable tool. For a comprehensive and interactive experience, you can use the Property Tax Calculator at VizHub. This tool allows you to input your specific property’s value and location details to see how they impact your potential tax liability.