According to a study done by the personal finance website WalletHub, Connecticut is 2017’s state with the fourth highest real-estate property taxes. Each year, the average American household spends $2,149 on real-estate property taxes plus another $402 for residents of the 27 states with vehicle property taxes. With such high costs, it’s no surprise that about $11.8 billion in property taxes go unpaid each year, according to the National Tax Lien Association.
In order to determine who pays the most relative to their state, the personal-finance website WalletHub released its 2017 Property Taxes by State report, which compares home and vehicle taxes across the nation and features insights from a panel of experts.
Property Taxes in Connecticut (1st=Lowest; 25th=Avg.):
- Real-Estate Property Tax Rank: 48th
- Vehicle Property Tax Rank: 48th
- Real-Estate Tax on Median State Home Value: $5,327
- Real-Estate Tax on Median U.S. Home Value: $3,517
- Vehicle Property Tax on Best-Selling Car: $555.15
For the full report, visit wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585/