Owning a home involves more expenses than just the mortgage. Among these, property taxes stand towering, especially in certain states where they can range from 0.32% to a staggering 2.23%. However, if you are in hot pursuit of a financial hideout, a place where the taxman’s toll is mercifully light, then look no further. Here are some states whose typical property tax rates sit comfortably below 1%.
The Hawaiian Blessing: A Measly 0.32%
- Typical property tax rate: 0.32%
Alabama: A Humble 0.40%
- Typical property tax rate: 0.40%
Colorado: A Modest 0.55%
- Typical property tax rate: 0.55%
4. Louisiana: A Gentle 0.56%
- Typical property tax rate: 0.56%
4. Wyoming: Also at 0.56%
- Typical property tax rate: 0.56%
6. South Carolina: A Mild 0.57%
- Typical property tax rate: 0.57%
6. Utah: 0.57%
- Typical property tax rate: 0.57%
6. West Virginia: Still Sub 1%, at 0.57%
- Typical property tax rate: 0.57%
9. Nevada: A Reasonable 0.59%
- Typical property tax rate: 0.59%
10. Delaware: A Tolerable 0.61%
- Typical property tax rate: 0.61%
11. Arizona: 0.63%
- Typical property tax rate: 0.63%
12. Arkansas: A Modest 0.64%
- Typical property tax rate: 0.64%
13. Idaho: 0.67%
- Typical property tax rate: 0.67%
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The Charm of Mississippi
Typical property tax rate: 0.67%
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New Mexico’s Balanced Proportions
Typical property tax rate: 0.67%
Charming Tennessee
Typical property tax rate: 0.67%
Montana’s Rustic Appeal
Typical property tax rate: 0.74%
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Californian Contrasts
Typical property tax rate: 0.75%
North Carolina’s Southern Comfort
Typical property tax rate: 0.82%
Kentucky’s Country Abode
Typical property tax rate: 0.83%
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The Charm of Indiana
Typical property tax rate: 0.84%
Virginia’s Coastal Nook
Typical property tax rate: 0.87%
Washington’s Evergreen Delight
Typical property tax rate: 0.87%
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Opulent Oklahoma
Typical property tax rate: 0.89%
Sunlit Florida
Typical property tax rate: 0.91%
Georgia’s Southern Charmer
Typical property tax rate: 0.92%
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Outstanding Oregon
Typical property tax rate: 0.93%
Dakotan Dwellings
Typical property tax rate: 0.98%
Methodology: GOBankingRates used TaxFoundation data to find the states with the lowest property taxes. All data is up to date as of Dec. 6, 2023.
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This article originally appeared on GOBankingRates.com: States With the Lowest Property Taxes
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