Tag Archive for ‘real estate taxes’

The Estate Tax and Real Estate

More than 6,400 taxpayers filed an estate tax return (Form 706) in 2019, according to recently released IRS data—40.1% of which were taxable after various deductions were taken into account. Form 706 disaggregates a decedent’s assets by type, which allows for analysis of the amount of real estate-related and small business assets on taxable returns.  The IRS also publishes data… Read More ›

State and Local Property Tax Revenues Increased Nearly 20 Percent over the Past Four Years

NAHB analysis of the Census Bureau’s quarterly tax data shows that $633.9 billion in taxes were paid by property owners in the four quarters ending Q3 2020.[1] Four-quarter property tax revenues have declined just once over the last eight years and are more than $100 billion (19.2%) higher than they were four years ago. Year-over-year growth of four-quarter property tax… Read More ›

Property Taxes by Congressional District

Earlier this year, NAHB released 2017 property taxes by state as a blog post and as a longer special study. However, in light of changes made to the tax code by the Tax Cuts and Jobs Act (TCJA), further refining the statistics by congressional district is instructive to both members of Congress as well as their constituents. Property Tax Payments,… Read More ›

Property Taxes by State – 2017

Property taxes vary widely across states both in terms of annual taxes paid as well as effective tax rates. In 2017, the difference between average real estate taxes paid by New Jersey and Alabama home owners was nearly $8,000. New Jersey continued its perennial distinction as having the highest average real estate tax bill per home owner ($8,485) as well… Read More ›

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 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 ›

Real Estate Taxes by State – 2013

According to the recently released 2013 American Community Survey (ACS) New Jersey once again led the nation with the highest median real estate tax bill at $7,331. The median real estate tax bill in Alabama was $532; the lowest in the nation. There was little movement from the 2012 ACS as the composition of the top and bottom ten remained… Read More ›

Top Posts of 2013: Real Estate Taxes by State

With the end of 2013 approaching, NAHB’s Eye on Housing would like to take a look at the updates that attracted the most readers over the last year.  In October, we examined real estate tax burdens by state. —————————– The median real estate tax bill in New Jersey was $7,183, the highest in the nation, according to the recently released 2012… Read More ›