WASHINGTON – Feb. 27, 2018 – Each year, the average American household spends $2,197 on real-estate property taxes, plus the residents of 27 states pay an additional $436 for vehicle property taxes.
The tax burden in Florida, however, is much lower. It has no state income tax, for example, and residents pay $0 each year in vehicle property taxes. While that puts a greater burden on property taxes, the property tax burden isn't high or low as the state ranks 27th out of 50 states and the District of Columbia.
In order to determine who pays the most relative to their state, the personal-finance website WalletHub released its 2018 Property Taxes by State report, which compares home and vehicle taxes across the nation and features insights from a panel of experts.
Florida property tax data
- Real-Estate Property Tax Rank: No. 27
- Vehicle Property Tax Rank: No. 1 (tie)
- Real-Estate Tax on Median State Home Value: $1,702 (on a median home value of $166,800).
- Real-Estate Tax on Median U.S. Home Value: $1,885
- Vehicle Property Tax on Best-Selling Car: $0.00
Visit WalletHub's website to read the full report.
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Article used by permission of Floridarealtors.org