Property taxes levied on single-family homes during 2016 totaled $277.7 billion, which averaged $3,296 per home and an effective tax rate of 1.15 percent, according to new statistics from ATTOM Data Solutions
The average annual property tax for owner-occupied single family homes nationwide was $3,658, an effective tax rate of 1.21 percent. Investment property homeowners owed $51.4 billion in property taxes in 2016, accounting for 19 percent of the total property taxes owed nationwide, while the number of investment properties accounted for 26 percent of all single-family homes.
States with the highest effective property tax rates were New Jersey (2.31 percent), Illinois (2.13 percent), Texas (2.06 percent), New Hampshire (2.03 percent) and Vermont (2.02 percent). The highest effective property tax rates among the major metro areas were Binghamton, N.Y. (3.10 percent), Rochester, N.Y. (2.99 percent), Rockford, Ill. (2.96 percent), Atlantic City, N.J; (2.77 percent) and Syracuse, N.Y. (2.67 percent). At the other end of the spectrum, the Aloha State bid aloha to high taxes: Hawaii had the lowest state property tax at 0.32 percent and Honolulu’s 0.32 percent rate was the lowest for a major metro area.