New Jersey Blues: These States SLAM Homeowners With the Highest Property Rates!
Brace yourself before buying — some states take a major bite out of your home value with sky-high taxes. 🌐 #News #TrentonNJ #NewJersey #RealEstate
TRENTON, NJ — Owning a home in the Garden State might feel like a financial achievement, but New Jersey homeowners are paying a hefty price to hold the keys.
New Jersey leads the nation with the most punishing property tax rate, a whopping 2.47%. That kind of figure turns homeownership into an expensive commitment, with nearly $9,000 shelled out yearly just for taxes on a typical property. And it’s not the only state where residents feel the pinch.
Top 5 States Draining Wallets With Property Taxes
#1 New Jersey: Paying More for the Privilege
In New Jersey, where the median home clocks in at $355,700, residents are coughing up the steepest average property tax bills in the country. While costly, it comes with perks—top marks in safety, education, and health care push the state to second place nationwide in overall quality of life.
#2 Illinois: Middle Home Price, Major Tax Hit
Illinois homeowners aren’t far behind. With a property tax rate of 2.23% and a median home cost of $212,600, the average bill here hits $4,744. Despite its tax load, Illinois hovers in the middle when it comes to quality of life, dragged down by economic stagnation and affordability concerns.
#3 Connecticut: High Cost, High Services
Living in Connecticut means paying big: a 2.15% rate paired with home prices around $286,700 leads to over $6,000 in annual property taxes. But residents also enjoy high-end health care and schools, even if the state’s cost of living drags its quality of life ranking to 26th.
#4 New Hampshire: Pricey but Prosperous
The Granite State’s 2.09% property tax rate means homeowners hand over about $6,036 a year on a $288,700 home. It ranks third for quality of life thanks to a strong economy and great services, even though it’s one of the least affordable places to live.
#5 Vermont: Sweet Life, Bitter Tax Bill
Vermont may charm with its rural beauty and progressive vibes, but its 1.90% tax rate takes a toll. A $240,600 median home means about $4,570 in taxes. Still, its low crime and healthy lifestyle help the state land 17th in livability.
Feeling Relieved? These States Keep Taxes Low
#1 Hawaii: Low Rates, Sky-High Prices
Don’t let the 0.29% rate fool you — Hawaii’s $662,100 median home cost makes even small percentages add up. Yet, with taxes under $1,900, it’s the lowest burden on this list. That said, its exorbitant living expenses put a damper on overall livability.
#2 Alabama: Cheap and Cheerful? Not Quite
Alabama’s homes are among the cheapest nationwide at $157,100, and its 0.41% tax rate keeps bills around $646. But lower taxes come at a price — weak scores in health and education drag down the state’s quality of life.
#3 Colorado: Affordable Rates, Expensive Homes
Colorado’s 0.51% tax rate is easy to stomach, but with a median home nearing $400,000, residents still fork over roughly $2,017. It performs well in education and the economy, though not in affordability or safety.
#4 Nevada: Low Taxes, High Struggles
Nevada charges just 0.55%, but a $315,900 home still results in a $1,736 bill. The downside? Poor rankings in education, health care, and employment knock the Silver State far down the livability scale.
#5 South Carolina: Small Bill, Big Problems
With a 0.56% tax rate and a modest median home value of $181,800, homeowners pay about $1,379 in taxes. But the state’s 44th place ranking in quality of life suggests there’s more to affordability than just low taxes.
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