Tag Archive for ‘state and local government’

Property Taxes by State – 2015

The 2015 American Community Survey data shows that New Jersey still leads the nation with the highest average annual real estate tax (RET) bill of $8,180—$7,528 more than RETs paid by Alabama’s homeowners. The overall distribution remained roughly unchanged since 2014, as the composition of the top and bottom ten remained the same. The map below clearly illustrates that the highest property… Read More ›

Property Tax Revenue Grows Over Four Percent

NAHB analysis of the Census Bureau’s quarterly tax data shows that $524 billion in taxes were paid by property owners over the four quarters ending in Q1 2016. This represents a $22 billion—or 4.4%—increase over the previous trailing four quarters, the largest percentage increase since 2009. Property taxes accounted for 39.3% of state and local tax receipts, the largest share… Read More ›

Property Tax Collections Total $500 Billion Over Last Four Quarters

According to NAHB tabulations of the Census Bureau’s quarterly data, property taxes constituted 39.5% of state and local tax receipts among major sources over the last four quarters. From the first quarter of 2014 to the end of the first quarter of 2015, sales taxes and individual taxes were responsible for 28% each. At 4.5%, corporate income taxes held the smallest share of state… Read More ›

State/Local Corporate Income Tax Receipts Increase 6.2%

Although the corporate income tax represents the smallest share state and local tax receipts, third quarter collections experienced the largest increase from the same quarter one year ago. In the third quarter of 2014 approximately $11.5 billion was collected in corporate income tax receipts or an increase of 6.2% from the third quarter of 2013. Over the same period individual… Read More ›

Property Tax 40.3% of State and Local Tax Receipts

From the third quarter of 2013 through the end of the second quarter of 2014, $493 billion in taxes were paid by property owners. This represents a nominal increase over the previous trailing four-quarters. Overall, state and local tax receipts from the third quarter of 2013 through the end of the second quarter of 2014 was $1,223 billion in all four of… Read More ›

Property Taxes Remain Historically High

Property taxes are an important source of revenue for state and local governments to finance government services, particularly education. And despite claims to the contrary, property tax payments continue to provide an outsized share of state and local tax collections. In fact, Census data of state and local government tax collections for the final quarter of 2011 indicate a small… Read More ›