click for interactive animation
Source:
Credit Sesame, Are Your State’s Property Taxes Too High?
Category: Real Estate, Taxes and Policy
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
So much for New Hampshire – Live Free or Die.
I guess 0% income tax does not mean zero gravity.
Property taxes are the worst form of taxation. I’d much rather pay income taxes to the city that I live in than pay rent on a house that I already own.
California is much more complex than the chart presents due to Prop 13. Taxes are limited to 1% of a home’s value at time of purchase, with a cap on annual increases of 2%. As a result, California has evolved into an extreme inequality in property tax.
Prop 13 needs to be repealed but you can’t even get anyone to talk about it without invoking hysteria, tears, screaming tantrums and threats.
Might want to consider pulling or caveating this page. The map does not deal with local taxes, which are a major (and varying) part of the total tax burden.
do some states allow local governments to change property tax rates? or do all of them, and is that included here?
I wonder how homestead and caps work in this analysis, particularly in light of the bubble in some states. What I mean by that is, for example, seniors in some states have their tax burden capped: percentage of old folks could then radically change how the numbers gross up, because the property value is not reflected in the tax rate. At least in Texas, also, homestead tax rates can’t rise by more than 10% per year.
I certainly don’t think that the map is reflective of the real tax burden of owning property in the couple of states with which I’m familiar. The state I really know well is Texas, and property taxes are divided up among a number of different entities (and Houston, for example, include home owners association money that is an incredibly strong lien on property and functions as a zoning tax, in a way).
It just strikes me that this would have to be a pretty sophisticated analysis to really be comparative across jurisdictions ranging from the original 13 colonies down to a state like Texas or California. Things that make you go “Hmmm . . . . .”
WOW….thought NH was a tax free state. I guess they will get their money some how…
Property taxes of $8,000 to $16,000 on ordinary 2,000 sq ft middle class houses in the NYC suburbs are so confiscatory as to constitute a human rights violation.
Retirees flee in droves from the northeastern tax hell. And that’s exactly what we’re doing. Why pay $10,000 a year to keep a home you already ‘own’? Eff that noise …
Accurate but not useful. Most states balance their revenue using a combination of income taxes, sales taxes and property taxes. Income taxes are levied primarily on the rich, while property taxes are levied primarily on the upper and middle class. Sales taxes are levied primarily on the poor.
If you want to see the ugly side of class warfare, look at how many states have eliminated their income taxes (like Florida) and replaced it with sales tax. In Florida, there is a bill introduced in the legislature each year to eliminate property taxes and replace it with more sales tax. So far, it keeps getting voted down because it is too obvious. But rich people really don’t care, so it is just a matter of time …
Dow: As a californian who bought a home within the last year: Prop 13 is evil, vile, disgusting, and ABSOLUTELY NECESSARY. California, unlike the rest of the nation, has gone through several real-estate bubbles, not just the recent big one, averaging about one every 10 years or so.
Prop 13 makes property tax predictable: why should my property tax bill double because some collective idiocy decided to bubble up prices?
Yes, it is grossly unfair that my parent’s annual property tax bill is about what my monthly property tax bill is, but it is a price I’m willing to pay for not having my property tax shoot through the ceiling when the next insane california bubble hits.
“Are Your State’s Property Taxes Too High”, a presentation that does not bother to clarify or further explain that every state has its own style of collecting and distributing revenue from state and local property, income and sales taxes. Does TBP get revenue from posting this click-through stuff?
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BR: No, I just dig the chart porn.
And really, after all these years and my insanely extensive disclosures, you really don’t know the answer to that?
I’m disappointed in you . . .
Not that that’s directly related to the value of the property, duh.
I live in Massachusetts, where property taxes can be high. It’s ironic that the most liberal state in the country favors the most regressive form of taxation. One that hits senior citizens the hardest. I’m not saying that taxes are too high in Massachusetts, I just think that property taxes are a terrible way to raise revenue.
It seems that liberal states in general have high property taxes. Why is that? In Massachusetts, the state government has been cutting aid to towns. To me, it’s not consistent with liberal values to spend 14 billion dollars on the big dig and then cut local aid that could be used for school systems.
“Does TBP get revenue from posting this click-through stuff?
Sorry. Some of your chart porn has been magnificent, but there’s good porn and bad porn. You’re usually about uncovering the simplistic bullshit people throw out for ulterior motives (that’s why I’m here; I’m no trader). This one was just that– tax chum by Credit Sesame. Perhaps I’m wrong, but it seems like years past the chart porn was from less-heavy-handed click trollers. Have they all sunk into the internet swamp?
[...] Hat tip to The Big Picture. [...]