When you’re working with homebuyers, especially those who are first-time buyers or from out of state, one main factor in determining how much you home is within their reach is property taxes.

WalletHub, using data from the U.S. Census Bureau, the average American household spends $2,127. And while renters often think they are in the clear of the impact of property taxes, oftentimes they are indirectly impacted.

[Tweet “California homeowners pay 0.81 in property taxes”]

Hawaii was ranked as having the lowest property tax rate of 0.28 percent, but the state has a steep median home value of $504,500. At the opposite end of the coin, New Jersey had the highest property tax rate in the nation of 2.29 percent.

Source: WalletHub

California residents are among those who are paying fairly low property taxes. California was ranked no. 17.

California residents pay 0.81 percent on property taxes

  • Annually they spend $1,429 on a $176,000 home
  • The median home value in the state is $371,400
  • The annual taxes on a home priced at the state’s median value is $3,021
Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×