Wallethub: New Jersey is 2021’s state with the highest real-estate property taxes

NEW JERSEY – New Jersey is 2021’s state with the highest real-estate property taxes, according to a study done by WalletHub.

Each year, the average American household spends $2,471 on real-estate property taxes plus another $442 for residents of the 27 states with vehicle property taxes. With such high costs, it’s no surprise that more than $14 billion in property taxes go unpaid each year, according to the National Tax Lien Association.

In order to determine who pays the most relative to their state, the personal-finance website WalletHub Tuesday released its 2021’s property taxes by state report which compares home and vehicle taxes across the nation and features insights from a panel of experts.

Property Taxes in New Jersey (1^st=Lowest; 25^th=Avg.):

• • • • Real-Estate Property Tax Rank: 51^st
      • Vehicle Property Tax Rank: 1^st
      • Real-Estate Tax on Median State Home Value: $8,362
      • Real-Estate Tax on Median U.S. Home Value: $5,419
      • Vehicle Property Tax on Best-Selling Car: $0
    Source: WalletHub
    Here are the top 5 states with the highest property taxes: 

    1. New Jersey
    2. Illinois
    3. New Hampshire
    4. Connecticut
    5. Vermont

    Here are the top 5 states with the lowest property taxes:

    1. Hawaii
    2. Alabama
    3. Colorado
    4. Louisiana
    5. District of Columbia

    For the full report, click here.