NEW YORK, NY- The average American household spends $2,089 on real estate property taxes each year, and residents of the 27 states with vehicle property taxes shell out another $423. Roughly $15 billion-worth of homes are also foreclosed upon as a result of property tax delinquencies each year, according to the National Tax Lien Association.

With that in mind, the personal finance website WalletHub today released a report on the States with the Highest & Lowest Property Taxes in 2015, which compares home and vehicle taxes across the country and features insights from a panel of leading experts. A few highlights can be found below.

 

  Highest Real Estate Taxes   Highest Vehicle Property Taxes
  43 Vermont ($2,934)   43 South Carolina ($416)
  44 Michigan ($3,168)   44 Massachusetts ($517)
  45 Nebraska ($3,228)   45 Maine ($551)
  46 Connecticut ($3,301)   46 Missouri ($595)
  47 Texas ($3,327)   47 Connecticut ($630)
  48 Wisconsin ($3,398)   48 Mississippi ($743)
  49 New Hampshire ($3,649)   49 Kansas ($905)
  50 Illinois ($3,939)   50 Virginia ($962)
  51 New Jersey ($3,971)   51 Rhode Island ($1,133)


Key Stats

  • Real estate taxes are 8-times higher in New Jersey than in Hawaii.
     
  • 27 states levy some sort of vehicle property tax. Such taxes are 13-times higher in Rhode Island than in Montana.
     
  • Real estate property taxes in the average Blue State ($2,250) are 39% higher than those in the average Red State ($1,613).


For the full report and to see where your state ranks, please visit: 
http://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585/