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Some places in the country are ridiculously high and there are some areas even right near there that have reasonable prices….
Just under $11,000 for a plot of land that’s 60X125
over 25 years ago, the taxpayers of Massachusetts passed a ballot initiative, Proposition 2 1/2, based on the California property tax limitation initiative.
Our property taxes are still high, but limited to 2.5% of the actual value of the house, and total town taxes can not go up more than 2.5% per year, not including taxes from new property.
Our taxes are high, but limited, and without this initiative, we would probably be in the same bad situation as New Jersey.
On a 2-family home that’s probably worth about $800k, we pay about $9500/year.
Out of all the taxes, I mind paying this the least. For this money, the children of our town get an excellent public education, the police come when called, and the fire department is there whenever there’s a fire. The trash gets picked up regularly. If these things disappeared or didn’t work, my life would be much worse for it.
Teaneck. That’s fairly typical.
We pay just over $5K in property taxes for a four bedroom house on a lot that is approximately 1/6 acre.
ranked by percentage of home value, taxes will be highest in NJ, at an avg of 1.89% of home value, and a median payment of $6,579. Next highest is New Hampshire (no sales tax) at 1.86% and a median of $4,636. Texas will be third at #$2,275. New York, ranked 17th, will be a bit lower at 1.23% and a median of $3,755.
Massachusetts comes in 21st at $3,511 and 1.04%.
There are other ways to rank, of course, by % of total income and by average payment.
You can get all the hard figures here: http://www.taxfoundation.org/publications/show/1913.html
Isn’t Gov. Christie supposed to be doing something about property taxes in NJ?
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