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(Updated November 2011)
Americans love to hate property taxes despite the fact that local governments depend upon this levy to provide services and programs to local residents. This Field Guide offers articles about the history of property taxes in the United States and also addresses the current housing market and its impact on real estate taxes. (D. Foligno, Project Specialist)
Property Taxes (% of Property Value) by State (2011)
- New Jersey – 1.89%
- New Hampshire – 1.86%
- Texas - 1.81%%
- Nebraska & Wisconsin - 1.76%
- Illinois - 1.73%%
- Connecticut - 1.63%
- Michigan - 1.62%
- Vermont - 1.59%
- North Dakota - 1.42%
- Ohio - 1.36%
- Pennsylvania & Rhode Island - 1.35%
- Iowa - 1.29%
- New York - 1.23%
- Maine - 1.09%
- Minnesota - 1.05%
Source: Tax Rates.org, (2011).
Property Taxes in the News
Tax win inspires copycats, (Wall Street Journal, Nov. 1, 2011).
Incline Village: Blazing the trail for property tax revolts, (Wall Street Journal, Nov. 1, 2011).
Property tax confusion pokes Facebook in Oregon, (USA Today, Oct. 31, 2011).
Upset at Cuomo’s property-tax cap, communities move to get around it, (New York Times, Oct. 24, 2011).
Taxpayers of the wrong race: Corboy v. Louie, (Hawaii Reporter, Oct. 21, 2011).
North Dakota may abolish property tax, (MSN Money, Oct. 18, 2011).
New York, New Jersey Homeowners Pay Highest Property Taxes, (The Tax Foundation, Sept. 28, 2010).
Fighting a tax appraisal (and perhaps something more), (New York Times, May 13, 2010).
Impact on Property Values
Lose home value? Don’t expect a lower property tax bill, (Chicago Sun Times, Sept. 23, 2011).
Higher property taxes blamed on low commercial property values, (KMOV St. Louis, Sept. 22, 2011).
House lost value? Get a property tax do-over, (HSH.com, Mar. 1, 2011).
Property taxes inhibit sales in West Orange, (New York Times, June 23, 2010).
Seeking lower property taxes on a house of sinking value, (New York Times, May 7, 2010).
Lower taxes: Silver lining of falling home prices, (CNN Money, May 27, 2009).
Why Property Taxes Rise While Real Estate Falls, (Gotham Gazette, Apr. 2009).
Property tax revenue plummets with home values, (San Francisco Chronicle, Jan. 25, 2009).
Understanding Property Taxes
Residential Property Tax Rates for Largest City in Each State, (Census Bureau, 2011).
Property tax data by county, (MyTaxBurden.org).
Local Property Taxes as a Percentage of Local Tax Revenue, (Tax Policy Center, Oct. 27, 2010).
Getting overcharged? Appeal your property tax bill the smart way, (CNN Money, Aug. 31, 2009).
The dirty little secret about real estate taxes and how they work, (Real Estate Pro, May 9, 2009).
How do property taxes work?, (Tax Policy Center, Oct. 9, 2008).
The influence of race in residential property tax assessments, (Florida State University Journal of Land Use, Fall 2004).
History of property taxes in the U.S., (EH.net Encyclopedia, Oct. 2002).
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
How to Invest In Offshore Real Estate and Pay Little or No Taxes (Adobe PDF eBook )
How to Invest in Real Estate & Pay Little or No Taxes Use Tax Smart Loopholes to Boost Your Profits By 40% (Adobe PDF eBook )
Make Money in Real Estate Tax Liens (Kindle Book; Adobe PDF eBook)
Real Estate Advantages (Overdrive WMA Audiobook)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Property Taxes in Illinois—What is the effect of rapid increases and large drops in house prices on property taxes?, (University of Illinois, 2011). [pdf link]
Field Guides & More
These field guides and other resources in the Virtual Library may also be of interest:
Field Guide to Development Impact Fees
Field Guide to Real Estate Transfer Taxes
Field Guide to Schools & the Homebuying Decision
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The inclusion of links on this field guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this field guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.