States with no Property Tax

Owning a home is a cornerstone of the American dream, drenched in the promise of security and a sense of belonging. However, with this dream come various costs, and one that can differ drastically based on where you live is the property tax. Property taxes are annual fees that homeowners are obligated to pay, accounting for an essential part of state revenue used to fund infrastructure projects, education, community services, and more. But, the picture of property tax across the United States is not uniform. 

Key findings from the data include:

• At the nation's lower end of property tax, Hawaii stands out with the lowest rate of just 0.28%, trailed by Alabama at 0.41%, and Colorado at 0.51%.
• On the contrary, some of the highest rates are found in New Jersey, with a staggering 2.49% property tax rate, followed closely by Illinois at 2.27% and New Hampshire at 2.18%.
• Regionally, we observe that some of the lowest property tax rates are prevalent in the western and southern parts of the country, with states such as Hawaii, Colorado, and Alabama. In contrast, the North Eastern region states, including New Jersey, New Hampshire, and Connecticut, carry some of the highest rates.
• Another noteworthy pattern is the clustering of high tax rates in the Midwest region with Wisconsin (1.85%), Nebraska (1.73%), and Iowa (1.57%) featuring in the top tier for property tax rates.