LendingTree ranked 50 U.S. metro areas. At No. 24, Miami was solidly average, but property taxes in three other state metro areas ranked from No. 11 to No. 14.
NEW YORK – Property taxes vary significantly across the nation’s 50 largest metros. How much homeowners pay in property taxes largely depends on where they live and what their home is worth.
Homeowners in the lowest property tax metro, Birmingham, Ala., pay about $7,700 less than their counterparts in the New York metro area, which has the highest property taxes in the U.S. Property taxes in Birmingham average $753 (homes without a mortgage); property taxes in New York City average $8,180.
Of four Florida metros included in the rankings, Miami has the highest property taxes ($2,481), but it still only ranked No. 24 with 26 other U.S. metros more expensive.
Tampa came in at No. 11 ($1,406), Jacksonville at No. 12 ($1,575) and Orlando at No. 14 ($1,744).
Birmingham is the only metro where median property taxes are less than $1,000 a year. On the other hand, in New York, San Jose, Calif. and San Francisco, property taxes are among the highest in the country, at $8,602 in New York (homes with a mortgage), $7,471 in San Jose, and $6,508 in San Francisco, according to the study.
Homeowners overburdened by property taxes or who believe they’re paying too much can challenge their assessment, says Jacob Channel, LendingTree’s senior economic analyst and the report’s author.
“While this doesn’t guarantee that your bill will go down, it can help shed some light on why the government is saying you owe what you do,” he says. “And, in the best-case scenario, you could end up paying less in taxes.”
Source: LendingTree
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