Property taxes: Where does your state rank?

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The Worst State to Live In for Taxes

Residents of New Jersey pay roughly eight times more in real-estate property taxes on average than residents of Hawaii.

The Garden State has earned the dubious distinction of ranking highest in the nation in WalletHub's latest annual assessment of real-estate property taxes. The Aloha State earned the lowest rank among the 50 states and Washington, D.C.

These rankings are based on annual property taxes for real estate valued at $176,000, the median home value in the U.S. That amount ranges from $4,029 in New Jersey to $489 in Hawaii.

The average American household, by comparison, spends $2,127 on real-estate property taxes each year, WalletHub reports. In the 27 states that also levy vehicle property taxes, households pay an additional $412 in property taxes.

WalletHub adds: Considering these figures and the debt-fueled environment to which we have grown so accustomed, it should come as no surprise that roughly $11.8 billion in property taxes go unpaid each year, the National Tax Lien Association has found.

The states with the lowest effective real-estate tax rates are spread across various regions of the U.S.
The top 10 lowest rates— based on a home valued at $176,000 — are:

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Property taxes: Where does your state rank?

1. Hawaii: 0.28 effective real-estate tax rate ($489 in annual taxes)

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2. Alabama: 0.43 percent ($764)

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3. Louisiana: 0.48 percent ($841)

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4. Delaware: 0.53 percent ($929)

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5. District of Columbia: 0.57 percent ($1,005)

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6. South Carolina: 0.57 percent ($1,009)

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7. West Virginia: 0.59 percent ($1,035)

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8. Arkansas: 0.62 percent ($1,088)

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9. Colorado: 0.62 percent ($1,097)

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10. Wyoming: 0.62 percent ($1,094)

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The states with the highest rates mostly are concentrated in the Midwest and New England regions.
The top 10 highest rates — again based on a home valued at $176,000 — are:

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Property taxes: Where does your state rank?

1. New Jersey: 2.29 percent ($4,029)

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2. Illinois: 2.25 percent ($3,959)

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3. New Hampshire: 2.1 percent ($3,698)

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4. Wisconsin: 1.97 percent ($3,459)

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5. Texas: 1.93 percent ($3,392)

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6. Connecticut: 1.91 percent ($3,357)

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7. Nebraska: 1.88 percent ($3,301)

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8. Michigan: 1.83 percent ($3,220)

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9. Vermont: 1.72 percent ($3,021)
 

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10. Rhode Island: 1.61 percent ($2,829)

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In the states that have vehicle property taxes, rates range from 0.37 percent in Montana (meaning taxes on a $23,070 2016 Toyota Camry LE four-door sedan, the highest-selling car of 2015, amount to $86) to 4.76 percent in Rhode Island (meaning taxes on the same vehicle amount to $1,099).

Complete rankings are available in WalletHub's "2016's Property Taxes by State" analysis.

How do you feel about property tax rates in your area? Sound off in a comment below or on our Facebook page.

RELATED: View the US cities with the most expensive rent

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Property taxes: Where does your state rank?
10. Palm Beach, Florida
9. Orange County, California
8. Boston, Massachusetts
7. Northern New Jersey, New Jersey
6. San Diego, California
5. Los Angeles, California
4. Manhattan, New York
3. San Jose, California
2. Oakland, California
1. San Francisco, California
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