Thursday, October 14, 2010

Census Data: New York, New Jersey Homeowners Pay Highest Property Taxes

September 28, 2010

New data released today by the Census Bureau on owner-occupied housing shows Northeast homeowners tend to pay the most in property taxes, with the highest taxes being in New York and New Jersey. Louisiana and much of the South tend to have the lowest property taxes on homeowners.

The 2009 rankings released in September have changed little from the 2008 rankings released last year.

Homeowners in the Northeast, specifically in New Jersey counties and New York counties (outside New York City), pay the highest property taxes.

The report ranks 792 high-population counties (over 65,000) and all 50 states based on the highest median property taxes paid - both in dollar amount and as a percentage of home value.
The top 10 counties in median real estate taxes paid for 2009 are, from 1 to 10: Westchester County, NY ($9,044); Nassau County, NY ($8,940); Bergen County, NJ ($8,708); Hunterdon County, NJ ($8,671); Rockland County, NY ($8,542); Essex County, NJ ($8,245); Passaic County, NJ ($7,939); Morris County, NJ ($7,904); Union County, NJ ($7,793); and Somerset County, NJ ($7,720). The national median is $1,917.

The top 10 counties in median real estate taxes as a percentage of median home value for 2009 are, from 1 to 10: Monroe County, NY (2.89%); Niagara County, NY (2.87%); Wayne County, NY (2.78%); Chemung County, NY (2.61%); Chautauqua County, NY (2.61%); Erie County, NY (2.60%); Onondaga County, NY (2.50%); Camden County, NJ (2.50%); Steuben County, NY (2.49%); and Madison County, NY (2.43%). The national median real estate taxes paid divided by the national median home value is 1.04 percent.

The top 10 states in median real estate taxes paid for 2009 are, from 1 to 10: New Jersey ($6,579); Connecticut ($4,738); New Hampshire ($4,636); New York ($3,755); Rhode Island ($3,618); Massachusetts ($3,511); Illinois ($3,507); Vermont ($3,444); Wisconsin ($3,007); and California ($2,893).

The top 10 states for median real estate taxes as a percentage of median home value are, from 1 to 10: New Jersey (1.89%); New Hampshire (1.86%), Texas (1.81%); Wisconsin (1.76%); Nebraska (1.76%); Illinois (1.73%); Connecticut (1.63%); Michigan (1.62%); Vermont (1.59%); and North Dakota (1.42%).

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