Property taxes can vary by nearly $8,000 for the same-priced home, depending on where you live in the U.S., a new study reveals.
New Jersey’s effective tax rate is 2.23%, the highest in all 50 states and the District of Columbia, according to Tax Foundation’s analysis of the Census Bureau’s most recent data.
Hawaii is the lowest-taxed state, with an effective tax rate of 0.32%.
For a home that’s worth the U.S. median of $416,100, that means New Jersey homeowners would pay $9,279 in property taxes. In Hawaii, the tax bill for the same home would only be $1,332.