A new analysis from ATTOM Data Solutions, a fused property database, shows property taxes levied on single-family homes in 2016 totaled $277.7 billion, or about $3,296 per home and an effective tax rate of 1.15%.
But owner-occupied single-family homes came in even higher at an average of $3,658 per home with an effective tax rate of 1.21%. This is up from non-owner occupied homes with an average annual property tax of $2,437 and an effective tax rate of 1.03%.
And this gap was seen in 34 of the 50 states including the largest gaps in California, Texas, Ohio, Illinois and New York.
And as home prices increased, property taxes rose, hitting more than $10,000 annually in some counties in New York, New Jersey, California and Connecticut.
The report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county level along with estimated market values of single family homes calculated using an automated valuation model. The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.
Of all the states, some stood out above the rest with the highest property tax rates in the nation. The state with the highest property tax rate was New Jersey at 2.31%. For a median priced home in that state, this means more than $6,000 in annual property taxes.
Illinois came in second with a property tax rate of 2.13%, followed by Texas at 2.06%, New Hampshire at 2.03% and Vermont at 2.02%.