AVERAGE PROPERTY TAX AMOUNT ON SINGLE-FAMILY HOMES UP 2.7 PERCENT ACROSS U.S. IN 2024
Home Values Rose and Effective Tax Rates Fell;
The Average Single-Family Home Property Tax Bill Rose 3 Percent, to $4,172;
Highest Tax Rates Remain in the Northeast and Midwest
ATTOM, a leading curator of land, property data, and real estate analytics, released its 2024 property tax analysis for 85.7 million U.S. single-family homes, which shows that $357.5 billion in property taxes were levied on single-family homes in 2024, down 1.6 percent from 2023.
The report also shows that the average tax on a single-family home in the U.S. rose to $4,172 in 2024, a 2.7 percent increase over the previous year. In 2023, the average tax on a single-family home had increased 4.1 percent over the prior year.
Nationwide, the average effective tax rate for single-family homes was 0.86 percent in 2024, down slightly from the average effective nationwide tax rate of 0.87 percent in 2023. These figures exclude New York, which was omitted from the analysis due to data availability limitations from our third-party source.
2024 PROPERTY TAXES BY COUNTY HEAT MAP
The report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county levels along with estimated market values of single-family homes calculated using an automated valuation model (AVM). The effective tax rate shows the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.
The drops in effective tax rates seen through much of the country came as estimated home values rebounded to a nationwide average of $486,456, a 4.8 percent increase over the previous year. In 2023, the national average home value had dropped for the first time in years, by 1.7 percent from 2022 values.
Home mortgage rates, which had been on a steep upward trajectory since mid-2021, leveled off in 2024, although they still remain near their highest point over the past decade.
“While rising home values can influence property taxes, they don’t automatically lead to higher bills for homeowners,” said Rob Barber, CEO at ATTOM. “In many areas, we’ve seen taxes increase not just due to property appreciation, but also because of growing costs to operate local governments and schools or shifts in how tax burdens are distributed.” He added, “That said, regional disparities remain clear—with higher home values and effective tax rates in parts of the Northeast and Midwest often helping to support more robust local services, compared to the generally lower values and rates in the South and West.”
Highest effective property tax rates remain in Northeast and Midwest
The 10 states with the highest effective tax rates in 2024 were all in the Northeast and middle of the country, led by Illinois (1.87 percent), New Jersey (1.59 percent), Connecticut (1.48 percent), Nebraska (1.32 percent), and Ohio (1.31 percent).
The effective rates in all five of those states were slightly lower than the previous year. Rounding out the top 10 in 2024 were Iowa (1.24 percent), New Hampshire (1.23 percent), Kansas (1.22 percent), Vermont (1.22 percent), and Pennsylvania (1.16 percent).
Lowest effective rates were in the South and West
Eight of the 10 states, with the lowest effective tax rates for single-family homes were in the South and West of the country. Hawaii had the lowest rate (0.33 percent), followed by Idaho, Arizona, and Alabama all at (0.41 percent), and Delaware (0.43 percent).
Rounding out the 10 states with the lowest rates were Utah (0.45 percent), Tennessee (0.46 percent), West Virginia (0.47 percent), Nevada (0.48 percent), and Wyoming (0.49 percent).
Tax bills remain highest in the Northeast
Due to the combination of more valuable homes and generally higher tax rates, average tax bills in Northeastern states are the highest in the country. New Jersey’s average property tax bill for a single-family home—$10,135, the highest in the nation—was nearly 10 times higher than West Virginia’s $1,027, the lowest.
Following New Jersey, the states with the highest average tax bill were Connecticut ($8,402), New Hampshire ($7,723), Massachusetts ($7,720), and California ($7,131).
The states with the lowest average tax bills after West Virginia were Alabama ($1,200), Arkansas ($1,397), Mississippi ($1,440), and Louisiana ($1,585).
The Midwest had many of the highest effective tax rates among large metro areas
Among the 217 metropolitan statistical areas around the country with a population of at least 200,000, 16 of the 25 with the highest effective tax rate for single-family homes in 2024 were in the Midwest, with Illinois boasting six of them.
In those metro areas, the highest effective property tax rates were Rockford, IL (2.06 percent); Chicago, IL (1.91 percent); Peoria, IL (1.89 percent); Champaign-Urbana, IL (1.88 percent); and Trenton, NJ (1.88 percent).
The lowest effective tax rates were in Salisbury, MD (0.29 percent); Johnson City, TN (0.33 percent); Knoxville, TN (0.33 percent); Tuscaloosa, AL (0.33 percent); and Honolulu, HI (0.34 percent).
Among the 53 metro areas with populations over 1 million, the highest effective tax rates including Chicago, IL were in; Hartford, CT (1.71 percent); Cleveland, OH (1.65 percent); Columbus, OH (1.45 percent); and Pittsburgh, PA (1.42 percent).
In the largest metro areas, the lowest tax rates including Honolulu, HI were in Phoenix, AZ (0.37 percent); Nashville, TN (0.48 percent); Las Vegas, NV (0.48 percent); and Salt Lake City, UT (0.48 percent).
Property tax bills grew above national average in three quarters of metro areas
Among the 217 metro areas with 200,000 or more residents, 157 saw the average single-family home property tax bill increase by more than the national average of 3 percent.
The metro areas with populations over 1 million that had the largest increases in average tax bills were Raleigh, NC (21.1 percent); Honolulu, HI (17.2 percent); New Orleans, LA (16 percent); Richmond, VA (13.1 percent); and Chicago, IL (12.9 percent).
Of the largest metro areas, those with the biggest decreases in average single-family home tax bills were Charlotte, NC (down 7.3 percent); Atlanta, GA (down 6.4 percent); Houston, TX (down 5.8 percent); Austin, TX (down 5.4 percent); and Philadelphia, PA (down 3.4 percent).
Average annual property tax tops $10,000 in 19 large counties
Among 1,438 U.S. counties with at least 10,000 single-family homes in 2024, 19 had an average property tax bill of more than $10,000.
The counties with the highest average tax bills were Bastrop County, TX ($28,297); Marin County, CA ($15,881), Essex County, NJ ($13,989); Bergen County, NJ ($13,961); and San Mateo County, CA ($13,627).
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