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ATTOM Data Solutions released its 2018 property tax analysis for more than 87 million homes, announcing that single-family homeowners last year paid a total of $304.6 billion, up from $293.4 billion in 2017. The average was $3,498 per home, according to the report, which made for an effective tax rate of 1.16 percent.
According to ATTOM, the report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county levels along with estimated market values of single-family homes calculated using an automated valuation model. The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.
Westchester led the way, with an average property tax bill on a single-family home of $17,392, highest in the nation, the report stated. Rockland had the second highest tax bill in the country, with an average property tax bill of $12,925. In the Hudson Valley, homeowners in Putnam have an average property tax bill of $9,725, followed by Orange County at $7,745 and Dutchess County at $6,959.
The lowest property tax rates were in Hawaii, Alabama, Colorado, Nevada and Utah.
Homeowners in Connecticut had the fifth highest property tax rates at 2.02 percent, behind only New Jersey (2.25 percent); Illinois (2.22 percent); Texas (2.18 percent); and Vermont (2.16 percent). New York had the seventh highest rate at 1.86 percent.
While the New York suburbs had the highest average property tax bill, upstate New Yorkers were hit with the highest effective property rates, with Binghamton (3.19 percent); Syracuse (2.89 percent); and Rochester (2.88 percent) leading the way.
“Property taxes levied on homeowners rose again in 2018 across most of the country,” Todd Teta, chief product officer for ATTOM Data Solutions, stated. “While many states across the country have imposed caps on how much taxes can go up, which probably contributed to a slower increase in 2018 versus 2017. There are still many factors at play that can contribute to local property tax hikes, and without major changes in the way a community runs public services, tax rates must rise to pay for them.”
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