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Connecticut Ranks 6th Highest In Real Estate Taxes, 4th In Car Taxes

Fairfield County has some of the highest property tax rates in the nation.
Fairfield County has some of the highest property tax rates in the nation. Photo Credit: WalletHub

FAIRFIELD COUNTY, Conn. -- When it comes to taxes, residents of Connecticut pay some of the highest rates in the nation for real estate and cars, according to a study from the personal finance website WalletHub.

The study compares home and vehicle taxes across the nation and features insights from a panel of leading experts.

It ranks Connecticut sixth highest in real estate property taxes and fourth highest in vehicle property taxes.

Connecticut homeowners spend an average of $3,357 on real estate property taxes each year compared with the national average of $2,127, according to WalletHub.

Only five states — Texas, Wisconsin, New Hampshire, Illinois, and New Jersey — have higher real estate taxes, the report said.

Also, WalletHub said the state median home value was $274,500, with $5,244 spent annually on taxes — the second highest, trailing only New Jersey.

In addition, the report said that from 2007 to 2016, Connecticut has remained among the highest in real estate property tax rates.

In addition to real estate taxes, vehicle property taxes for residents of Connecticut also stand out when compared to those from the rest of the nation.

When examining vehicle property taxes of the 27 states that shell out an average of $412 a year on vehicle property taxes, Connecticut drivers spend the fourth most — $642 per car with a 2.78 percent tax rate — in the country, the report said.

Only Mississippi, Virginia and Rhode Island have higher annual taxes on vehicles.

For the full WalletHub report, click here.

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