Top 10 Metros with the Lowest Property Tax Rate

statistical areas analyzed in the report with a population of at least 200,000, those with the highest effective property tax rates were Binghamton, New York (3.19 per- cent); Syracuse, New York (2.89 percent); Rochester, New York (2.88 percent); Rockford, Illinois (2.83 percent); and Atlantic City, New Jersey (2.74 percent).

In fact, Bridgeport, New York boasted the highest average property tax, among all 219 metropolitan areas analyzed in the report. They were averaging $10,754 in property taxes in 2018. Those metro areas to follow in- cluded: New York, New York ($9,700); San Jose, California ($9,391); Trenton, New Jersey ($8,496); and San Fran- cisco, California ($7,973). AND THE LOWEST? As property taxes continue to rise in most parts of the country, which areas are not hit as hard by proper- ty tax hikes? Among the 219 metro areas ana- lyzed for the report, those with the lowest effective property tax rates

were Laredo, Texas (0.35 percent); Honolulu (0.36 percent); Montgomery, Alabama (0.37 percent); Tuscaloosa, Alabama (0.39 percent); and Colorado Springs, Colorado (0.42 percent). NATIONAL AVERAGE ANNUAL COMPARISON Out of the 219 metropolitan sta- tistical areas analyzed in the report, 120 (55 percent) posted an increase in average property taxes above the national average of 3 percent, including Los Angeles (5 percent increase), Dallas-Fort Worth (8 percent increase), Washington D.C. (4 percent increase), Atlanta (7 per- cent increase), and San Francisco (7 percent increase).


I n a recent analysis by ATTOM Data Solutions on 2018 property taxes, there were a total $304.6 billion property taxes levied on single-fam- ily homes in 2018. The report also showed that the average property tax amount on single-family homes in 2018 was $3,498 – an effective tax rate of 1.16 percent. That number is up three percent from the average property tax of

$3,399 in 2017, and the effective property tax rate of 1.16 percent in 2018 is down from the effective prop- erty tax rate of 1.17 percent in 2017.

assessor offices nationwide at the state, metro and county levels along with estimated market values of single-family homes calculated using an automated valuation mod- el (AVM). The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area. In looking at 219 metropolitan


While the effective tax rates in the above markets was above that of the nation, what about those markets whose average property taxes were almost in the double digits?

WHICH MARKETS HAVE THE HIGHEST PROPERTY TAX RATES? The report analyzed property tax data collected from county tax

20 think realty housing news report

june 2019 21

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