Where Owners Pay the Most in Property Taxes

May 29, 2015

Property taxes can make up a significant portion of what home owners pay on their homes. Where are home owners paying some of the highest amounts?

The Northeast and Midwest, in general, have the highest property tax burdens when compared to the West and Southwest, according to a new analysis by the Lincoln Institute of Land Policy.

The agency recently released its annual 50-state property tax comparison study, an analysis of effective property tax rates in each state.

"The property tax remains the foundation of sound municipal fiscal health," says George W. McCarthy, president of the Lincoln Institute.

Home owners in Bridgeport, Conn., are paying the highest property taxes on homes worth $150,000 to $300,000, followed by Detroit; Aurora, Ill.; Newark, N.J.; and Milwaukee.

On the other hand, cities with the lowest effective residential property tax rates are in Denver, Birmingham, Washington, D.C., Honolulu, and Boston.

Source: "Lincoln Institute Study Compares Property Tax in 50 States," Lincoln Institute of Land Policy (May 26, 2015)