Property taxes on single-family homes inched up in 2019

by Candyd Mendoza14 Apr 2020

Property taxes on single-family homes posted a slight increase in 2019, according to figures from ATTOM Data Solutions.

Taxes levied on single-family homes last year were up 1%, from $304.6 billion in 2018 to $306.4 billion in 2019. The average tax amount per household grew 2% year over year, up from $3,498 to $3,561. Meanwhile, the effective property tax rate of 1.14% in 2019 was down from the 1.16% rate in 2018.

“Property taxes levied on homeowners rose again in 2019 across most of the country. But the nationwide increase was the smallest in the last three years, a sign that cities, towns, and counties are taking stronger steps to clamp down on how much they hit up property owners to support schools and local government services,” said Todd Teta, chief product officer of ATTOM Data Solutions.

Illinois (2.22%) led all states with the highest property tax rates, followed by New Jersey (2.19%), Texas (2.11%), Vermont (2.11%), and Connecticut (2.04%).

Of 220 metropolitan statistical areas, 123 (56%) reported an increase in property taxes above the national average of 2%, including Atlanta (9%), Phoenix (9%), Miami (5%), Washington, D.C. (4%), and Boston (4%).

Meanwhile, states that posted the lowest effective property tax rates were Hawaii (0.36%), Alabama (0.48%), Colorado (0.52%), Utah (0.56%), and Nevada (0.58%).

“Without major changes in the way local government and educational systems are funded, demands for good schools and other services will continue to put upward pressure on property taxes,” Teta said. “But on balance, 2019 was a relatively mild year for taxpayers around the nation.”