Tag Archive for ‘property taxes’

Property Tax Revenue Continues to Climb

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $129 billion in taxes were paid by property owners in the third quarter of 2023 (not seasonally adjusted).[1] In the four quarters ending Q3 2023, state and local governments collected $757 billion of property tax revenue—an 11.6% increase over Q3 2022. The year-over-year growth rate of property tax revenue… Read More ›

Property Taxes by State – 2022

NAHB analysis of the 2022 American Community Survey data shows that New Jersey leads the nation with the highest average annual real estate tax (RET) bill ($9,285)—$8,425 more than yearly property taxes paid by Alabama’s homeowners ($860). The size of this disparity grew 1.1% in 2022 and has increased 9.3% since 2017. Vermont was the only state for which the… Read More ›

Property Tax Revenue Climbs as Income Tax Receipts Decline Sharply

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $132 billion in taxes were paid by property owners in the second quarter of 2023 (not seasonally adjusted).[1] In the four quarters ending Q2 2023, state and local governments collected $727 billion of property tax revenue—a 7.4% increase over Q2 2022. The year-over-year growth rate of… Read More ›

Property Tax Revenues See Largest Increase Since 2009

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $286 billion in taxes were paid by property owners in the fourth quarter of 2022 (not seasonally adjusted).[1] State and local governments collected $714 billion in property taxes in 2022, $46 billion more than 2021. The 6.9% annual increase is the largest since property tax receipts climbed 9.3% in… Read More ›

Property Taxes by State – 2021

Real estate taxes vary widely across states both in terms of annual taxes paid as well as effective tax rates. In 2021, the difference between average real estate taxes (RETs) paid by New Jersey and Alabama home owners was $8,336. New Jersey continued its perennial distinction as having the highest average real estate tax bill per home owner ($9,151) as… Read More ›

Property Taxes Make Up More Than One-Third of State and Local Tax Revenue

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $672.9 billion in taxes were paid by property owners in the four quarters ending Q1 2022 (not seasonally adjusted), a 0.1% quarterly increase.[1] State and local governments collected $1.9 trillion over the same period, the largest amount on record (nominal and real) and 16.0% more than… Read More ›

Property Taxes Account for Largest Share of State and Local Revenue in 2021

NAHB analysis of the Census Bureau’s quarterly tax data shows that $672.5 billion in taxes were paid by property owners in the four quarters ending Q4 2021 (not seasonally adjusted), a 1.0% quarterly increase.[1]  Four-quarter property tax revenues declined 0.6% in Q3 2021, the second such decrease since 2012. Property taxes accounted for 36.2% of state and local tax receipts, a 0.8… Read More ›

Property Tax Revenues Decline, Share of Total Increases in Q3 2021

NAHB analysis of the Census Bureau’s quarterly tax data shows that $707.6 billion in taxes were paid by property owners in the four quarters ending Q3 2021 (not seasonally adjusted), a 0.5% quarterly decline.[1]  Four-quarter property tax revenues had climbed 14.3% since decreasing 0.2% in Q2 2020. The decline in Q3 2021 was only the second such decrease since 2012. Property taxes… Read More ›

State and Local Property Tax Revenues Eclipse $700 Billion

NAHB analysis of the Census Bureau’s quarterly tax data shows that $703.5 billion in taxes were paid by property owners in the four quarters ending Q2 2021.[1]  Four-quarter property tax revenues have climbed 13.2% since decreasing 0.2% in Q2 2020 (the first decrease since 2012). Year-over-year growth of four-quarter property tax revenue has accelerated each of the past four quarters.  Prior to… Read More ›