Americans Keep Buying Houses, Then Marvel At Surprise Property Taxes
KEY POINTS
- ā¢A 2025 WalletHub study ranked all 50 states by effective property tax rates using US Census data.
- ā¢New Jersey homeowners pay the highest rate at 2.11%, resulting in nearly $9,590 annually on median-priced homes.
- ā¢Hawaii offers the lowest rate despite having some of the priciest homes, easing tax burden amid high real estate values.
Welcome to America's never-ending homeowner initiation: the devouring beast known as property tax. New Jersey, the eager tax collector, demands $9,590 annually on a median $454,400 home, topping the charts with a delightful 2.11% rate. Meanwhile, Hawaii, home of $734,700 mansions, laughs softly with the lowest tax ratesābecause apparently paradise doesn't want your money. WalletHubās 2025 study, citing the US Census Bureau, rings alarms with expert Mitchell Franklin explaining that even a seemingly affordable home can become a budget hostage. Alabama sweet-talks homeowners with $788 yearly bills on median-priced homes, while California extracts a comfy $5,124 from $734,700 estates. Homeownership: the contract that never says "you're done."
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Buying a home is like adopting a friendly dragon named Property Tax: cuddly at first, then it burns your savings alive yearly.
You think the mortgage ends when you sign papers? Cute. Tax collectors didnāt get that memo.
Owning a house in New Jersey is like dating a clingy ex who demands $9,590 annually just to talk.
Source: Businessinsider | Published: 2/25/2026 | Author: Kristine Villarroel
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