Property taxes jump across US and affect homeowners

An ATTOM report found property taxes rose in 40 states and the District of Columbia last year, while $396.8 billion was levied on 89.6 million single-family homes and the average tax bill was $4,427.

A report from real estate data provider ATTOM shows property tax bills increased nationwide last year even as home price growth slowed. The rise occurred in most states despite some lawmakers' efforts to provide relief. The pattern reflects local tax policies and government costs in addition to home values. Key figures: - Property taxes of $396.8 billion were levied on 89.6 million single-family homes, an increase of 3.7 percent from 2024. - The average estimated value for a single-family home was $494,231 and the average property tax bill was $4,427, up 3 percent from a year earlier. - The national effective property tax rate was 0.9 percent, up from 0.86 percent in 2024 and the highest since 2020. - States varied widely: Illinois had the highest effective rate at 1.84 percent, while Hawaii had one of the lowest at 0.33 percent; New Jersey reported the highest average bill at $10,499 and West Virginia the lowest at $1,081. Summary: Homeowners across much of the country saw larger property tax bills last year even as overall home price growth eased, a trend ATTOM links to local government costs and tax policies. Undetermined at this time.