Does New York State Have The Highest Property Taxes?
We all know it's expensive to live in New York, but compared to other states, do we suffer the most when it comes to property taxes?
According the Wallethub, $14 billion in property taxes go unpaid each year. The average American household spends $2,279 on real-estate property taxes plus another $440 for residents of the 27 states with vehicle property taxes.
Living in New York hits our wallets pretty hard, especially with property taxes. Is New York the worst in the country? Luckily, New York doesn't have the highest, but we're not far off.
New York was ranked as the state with the 9th highest real estate property taxes, according to a recent report from Wallethub, which compared the property taxes in all 50 states and the District of Columbia.
Property Taxes in New York:
- Real-Estate Property Tax Rank: 43rd
- Vehicle Property Tax Rank: 1st
- Real-Estate Tax on Median State Home Value: $4,915
- Real-Estate Tax on Median U.S. Home Value: $3,246
- Vehicle Property Tax on Best-Selling Car: $0.00
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