The FINANCIAL — In 2010, property tax totaling $441 billion was collected in every state and Washington DC to fund government, education, and countless social programs. About 97 percent of it came at the local level, according to RealtyTrac.
Delaware is the least dependent state, with only ten percent of its general revenue coming from property tax. That’s according to the Tax Policy Center, a joint project of the Urban Institute and the Brookings Institute. The state with the largest share of general revenue coming from property tax is New Hampshire at 44 percent.
The amount single-family residences contribute and the average paid per property is the subject of a revealing new report from RealtyTrac, using 2014 data on 40.7 million homes across the United States.
California tops the RealtyTrac survey with $29.28 billion total property tax collected from single-family residences. These properties do not pay the highest average amount, however. That distinction goes to New Jersey, with average annual single-family residence property tax bills over $8,100.
Discussion about this post