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A new NAHB Economics research article shows that the effective real estate tax rates vary substantially across and within counties, with the highest rate area displaying rates that are often several times higher than the lowest rate areas within the same county.
An effective property tax rate is the amount of property tax paid divided by the value of the home as reported by home owners, thus giving an apples-to-apples comparison of the true tax burden for homes in various locations.
Oklahoma property tax example:
As NAHB economist Natalia Siniavskaia explained in a recent Eye on Housing blog post, the report presents tables of effective property tax rates for more than 3,100 counties, mapped below, including the lowest and highest tract rates within each county.
At the low end of the national spectrum, there are 12 Louisiana parishes registering property tax rates that are effectively under $2 per $1,000 of value. At the high end, there are Orleans and Monroe Counties, New York and Camden County, New Jersey, with property tax rates averaging close to $29.
The regional location remains a strong factor in explaining ... read the NAHB Now blog
