Monday, November 25, 2013

Brookings Institute Publishes Research on Residential Property Tax in the United States

This brief presents an overview of residential property taxes in the United States. We consider recent trends in aggregate property tax revenues and examine the property tax at the county level. Property taxes are an important source of revenue for local governments, though effective property tax rates vary substantially by state and region. The counties with the highest property tax burdens tend to be in New York and New Jersey, while the counties with the lowest property tax burdens are located in Alabama and Louisiana. Most counties levy property taxes that are around $1,000 per homeowner and below 1 percent of house value.

See the research here:

http://www.brookings.edu/research/papers/2013/11/18-residential-property-taxes-harris?utm_campaign=brookings-alert&utm_source=hs_email&utm_medium=email&utm_content=11212795&_hsenc=p2ANqtz--W4jeHnwx8yhqxrFh3c7bIsXrt2wzNpZMH6l-O0CvF2n7x4KZZRiFQ4E2A5b9hRLR1KXwqRkcfq5aq3Uq2v0jX1L-Bvw&_hsmi=11212795