– New Jersey maintains its rank as the state with the highest property taxes in the country, with homeowners paying a median of $9,345 in 2022.
– WalletHub’s recent report highlights the disparity in property tax rates across different states, with Democratic stronghold states in the Northeast generally having higher rates compared to Southern, red states.
– The report also shows that the highest effective tax rate was in New Jersey, at 2.33% of the property’s assessed value.
– Despite the high property taxes, states with higher rates can have lower overall taxes due to lower home values in certain areas.
– Tax rates are not uniform throughout a state and are increasing in many regions.

In a recent report from WalletHub, New Jersey has once again been identified as the state with the highest property taxes in the United States. Homeowners in the state paid a median of $9,345 in 2022, significantly higher than the national average. The report also highlights the fact that property tax rates can vary widely across different states, with factors such as home values and overall cost of living playing a significant role in determining the amount homeowners pay in taxes. This demonstrates the importance of considering property tax rates when making decisions about where to live, especially for individuals looking to maximize their take-home pay.

You can read this full article at: https://papersourceonline.com/see-how-much-homeowners-pay-for-property-taxes-in-the-cheapest-and-most-expensive-states/(subscription required)

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