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Is Florida’s Property Tax Rate Among the Lowest?

Posted on May 8, 2016

Is it among the 10 lowest? No. Among the 15 lowest? No.

But Florida’s median property tax rate, 1.32%, is less than half of the highest median property tax rate, 2.67%, which is the rate of Illinois, according to a report by CoreLogic Inc. And it’s almost the same as the national median property tax rate, which is 1.31%. In a ranking of all the 50 states’ median property tax rates, from lowest to highest, Florida is 32nd. It’s 33rd if the District of Columbia, which charges the sixth lowest property tax rate, is included.

States differ in how residential property taxes are calculated and collected. In some states, several entities collect property taxes from homeowners. In other states, only the counties collect property taxes. These were considered in CoreLogic’s analysis. The property tax rate is applied to the value of the home.

Here’s a ranking of all the 50 states, including the District of Columbia, based on their median property tax rates, from highest to lowest.

RANK STATE MEDIAN PROPERTY TAX RATE
% of Home Value
1 Illinois 2.67%
2 New York 2.53%
3 New Hampshire 2.40%
4 New Jersey 2.37%
5 Texas 2.17%
6 Connecticut 2.10%
7 Pennsylvania 2.09%
8 Vermont 1.98%
9 Nebraska 1.96%
10 Wisconsin 1.95%
11 Rhode Island 1.93%
12 Idaho 1.91%
13 Ohio 1.90%
14 Michigan 1.85%
15 Iowa 1.69%
16 Massachusetts 1.47%
17 Maine 1.47%
18 Oregon 1.46%
19 Florida 1.32%
U.S. Median Property Tax Rate 1.31%
20 Alaska 1.31%
21 Minnesota 1.27%
22 Missouri 1.26%
23 Montana 1.22%
24 Maryland 1.20%
25 North Dakota 1.16%
26 Arizona 1.15%
27 Mississippi 1.15%
28 Washington 1.15%
29 Delaware 1.13%
30 California 1.12%
31 Georgia 1.10%
32 Oklahoma 1.10%
33 Virginia 1.06%
34 Kentucky 1.04%
35 Kansas 1.01%
36 North Carolina 0.95%
37 Nevada 0.95%
38 Indiana 0.88%
39 New Mexico 0.83%
40 Tennessee 0.82%
41 Arkansas 0.79%
42 Utah 0.75%
43 Louisiana 0.74%
44 West Virginia 0.72%
45 South Carolina 0.71%
46 District of Columbia 0.69%
47 Colorado 0.66%
48 Wyoming 0.65%
49 Alabama 0.54%
50 South Dakota 0.38%
51 Hawaii 0.31%

Here’s a list of the 15 states charging the lowest median property tax rates:

RANK STATE MEDIAN PROPERTY TAX RATE
% of Home Value
1 Hawaii 0.31%
2 South Dakota 0.38%
3 Alabama 0.54%
4 Wyoming 0.65%
5 Colorado 0.66%
6 District of Columbia 0.69%
7 South Carolina 0.71%
8 West Virginia 0.72%
9 Louisiana 0.74%
10 Utah 0.75%
11 Arkansas 0.79%
12 Tennessee 0.82%
13 New Mexico 0.83%
14 Indiana 0.88%
15 Nevada 0.95%

In WalletHub’s analysis of U.S. Census Bureau’s data of states’ real estate property tax rates, Florida was 30th in a ranking from the lowest to the highest rate. It’s effective real-estate tax rate is 1.10%, which was a result of dividing Florida’s median real-estate tax payment by the median home price in Florida.

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