HOUSTON – In a recent study, WalletHub compared property tax data from each of the 50 states and the District of Columbia. And, no surprise, Texas has some of the highest property tax rates in the nation.
At 1.81 percent, the Lone Star State totes the sixth-highest average ‘real-estate property tax rate’ in the country, behind New Jersey, Illinois, New Hampshire, Connecticut and Wisconsin, according to WalletHub.
WalletHub also looked at median home values in each state in its comparison.
The median home value in Texas is $161,700, the 18th lowest of any state in the country.
Annual taxes on a $161,700 Texas home amount to $2,922. That figure is the 15th highest in the nation, according to WalletHub.
The average U.S. household spends $2,375 on property taxes each year, according to the U.S. Census Bureau.
Read the full report here.