Washington hovers near middle of states’ property tax list
Mar 8, 2016, 7:47 AM | Updated: 7:47 am
Property taxes are significant to all property owners but some states clearly take a bigger bite.
The average American household spends $2,127 on property taxes for their homes each year, according to the U.S. Census Bureau.
Washington hovers near the middle of the pack, tied with Oregon and Maryland for 27th place on the list, all with an effective real estate tax rate of 1.08 percent, according to ` research by financial website Wallet Hub. Washington state’s median house price of $257,200 brought an annual tax of $2,785.
New Jersey has the highest real-estate taxes, $4,029, which is eight times more expensive than in Hawaii, the state with the lowest, $489.
John S. Kiernan, Wallet Hub researcher, wrote that although property taxes might appear to be a non-issue for the 32 percent of people who rent their homes, that couldn’t be further from the truth. We all pay property taxes, Kiernan wrote, whether directly or indirectly, as they impact the rent we pay as well as the finances of state and local governments.
