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Wednesday, April 27, 2016
Hawaii Lowest Property Taxes in USA
By Selected News Articles @ 5:27 PM :: 5880 Views :: Hawaii Statistics, Taxes

From CoreLogic, April 27, 2016

Illinois has the nation’s highest median property tax rate at 2.67 percent, according to new data from CoreLogic, while Hawaii has the lowest median property tax rate at 0.31 percent.

Nationally, the median property tax rate is 1.31 percent. CoreLogic determined that 16 states (31 percent of the U.S.) have a median property tax rate of less than one percent, while 28 states (55 percent of the U.S.) have a median property tax rate between one and two percent, and seven states (14 percent of the U.S.) have a median property tax rate of more than two percent.

Following Illinois, the highest median property tax rates can be found in New York (2.53 percent), New Hampshire (2.40 percent), New Jersey (2.37 percent) and Texas (2.17 percent). Following Hawaii, the lowest median property tax rates can be found in South Dakota (0.38 percent), Alabama (0.54 percent), Wyoming (0.65 percent) and Colorado (0.66 percent).

After Illinois, the four states with the highest median property tax rates are New York (2.53 percent), New Hampshire (2.40 percent), New Jersey (2.37 percent) and Texas (2.17 percent). After Hawaii, the four states with the lowest median property tax rates are South Dakota (0.38 percent), Alabama (0.54 percent), Wyoming (0.65 percent) and Colorado (0.66 percent). Figure 2 shows that among the 50 states and the District of Columbia:

►16 states, or 31 percent of the U.S., have a median property tax rate of less than 1 percent

►28 states, or 55 percent of the U.S., have a median property tax rate between 1 and 2 percent

►7 states, or 14 percent of the U.S., have a median property tax rate of more than 2 percent

The analysis shows that higher median tax rates are seen primarily among states in the northeast, with Texas a notable exception at 2.17 percent, where there are multiple levels of tax collection. Conversely, the majority of states with low median tax rates have only a single level of tax collection at the county level. Other than Hawaii, the lowest median property tax rates are primarily in the Rocky Mountain region—in states like Nevada, Utah, Colorado, New Mexico and South Dakota—as well as in southeastern states.

 

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