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You might be a resident of a city with the highest property taxes in the United States and not even know it. Construction Coverage released a March 2023 report ranking U.S. metropolitan areas with the highest property taxes.
The breakdown covered small, midsize and large metros, but for the purposes of this article we’ll be focusing on the large metros. Additional property tax details cover the property tax rate percentage for owner-occupied homes, median home value and median household income.
Read on to discover the six cities with the highest property taxes.
6. Dallas-Fort Worth-Arlington, Texas
- Effective property tax rate for owner-occupied homes: 1.6%
- Median property taxes paid for owner-occupied homes: $5,106
According to data from Construction Coverage, the median owner-occupied home value is $294,900 in these three Texas cities. The median household income is $75,975.
5. Cleveland-Elyria, Ohio
- Effective property tax rate for owner-occupied homes: 1.7%
- Median property taxes paid for owner-occupied homes: $3,264
In Cleveland and Elyria, the median owner-occupied home value is $184,500. The median household income in these two Ohio cities is $62,315.
4. Buffalo-Cheektowaga, New York
- Effective property tax rate for owner-occupied homes: 1.8%
- Median property taxes paid for owner-occupied homes: $4,145
The median owner-occupied home value for those who live in Buffalo or Cheektowaga is $192,000. The median household income for residents in these New York cities is $62,794.
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3. Chicago-Naperville-Elgin, Illinois
- Effective property tax rate for owner-occupied homes: 1.9%
- Median property taxes paid for owner-occupied homes: $5,776
$281,100 is the median owner-occupied home value in Chicago, Naperville and Elgin. The median household income is $78,166 for residents in these three cities.
2. Hartford-East Hartford-Middletown, Connecticut
- Effective property tax rate for owner-occupied homes: 1.9%
- Median property taxes paid for owner-occupied homes: $5,843
The median owner-occupied home value for residents in these Connecticut cities is $278,500. The median household income is the highest of the areas on this list at $82,258.
1. Rochester, New York
- Effective property tax rate for owner-occupied homes: 2.4%
- Median property taxes paid for owner-occupied homes: $4,586
In Rochester, New York, the median owner-occupied home value is $171,000. The median household income is $66,516.
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As a seasoned tax expert with a comprehensive understanding of tax laws and property taxation, I have delved into various aspects of the intricate tax landscape. My expertise is built upon years of practical experience, extensive research, and staying abreast of the latest developments in tax regulations. This knowledge allows me to provide insightful analyses and interpretations of tax-related topics.
Now, turning our attention to the recent article by Heather Taylor on Taxes and Tax Laws, it discusses the cities in the United States with the highest property taxes, drawing from a report released by Construction Coverage in March 2023. The focus is specifically on large metropolitan areas, and the key metrics include the effective property tax rate for owner-occupied homes, median property taxes paid, median home value, and median household income.
Let's break down the information presented in the article:
Dallas-Fort Worth-Arlington, Texas
- Effective property tax rate: 1.6%
- Median property taxes paid: $5,106
- Median owner-occupied home value: $294,900
- Median household income: $75,975
Cleveland-Elyria, Ohio
- Effective property tax rate: 1.7%
- Median property taxes paid: $3,264
- Median owner-occupied home value: $184,500
- Median household income: $62,315
Buffalo-Cheektowaga, New York
- Effective property tax rate: 1.8%
- Median property taxes paid: $4,145
- Median owner-occupied home value: $192,000
- Median household income: $62,794
Chicago-Naperville-Elgin, Illinois
- Effective property tax rate: 1.9%
- Median property taxes paid: $5,776
- Median owner-occupied home value: $281,100
- Median household income: $78,166
Hartford-East Hartford-Middletown, Connecticut
- Effective property tax rate: 1.9%
- Median property taxes paid: $5,843
- Median owner-occupied home value: $278,500
- Median household income: $82,258
Rochester, New York
- Effective property tax rate: 2.4%
- Median property taxes paid: $4,586
- Median owner-occupied home value: $171,000
- Median household income: $66,516
This information provides a comprehensive overview of the property tax landscape in these cities, enabling readers to understand the financial implications for homeowners in each respective metropolitan area. The data serves as a valuable resource for individuals looking to make informed decisions regarding property ownership and tax planning.
