Pay More Taxes, Get Less Appreciation, AND Freeze Your Butt Off. Sounds Like A Great Idea.

A number of interesting research reports have recently been released by WalletHub, a personal finance website, ranking the states in the country: which states have the highest and lowest property taxes; which states have the highest and lowest overall tax burdens; which states have the highest and lowest cost of living.

As always, going over these stats, we wonder why anybody wants to buy real estate in or live anywhere besides FortLauderdale.

Lowest Property Taxes

 

The average American household spends $2,149 on property taxes for their homes each year, according to the U.S. Census Bureau. Which states pack the biggest property-tax punch? WalletHub analyzed the 50 states and the District of Columbia in terms of real-estate taxes.

 (Rank, State, Property Tax Rate, Taxes on $179k Home, Median Price)

1.) Hawaii, 0.27%, $487, $515,300

2.) Alabama, 0.43%, $773, $125,500
3.) Louisiana, 0.49%, $876, $144,100
4.) Delaware, 0.54%, $969, $231,500
5.) District of Columbia, 0.56%, $1,000, $475,800
6.) South Carolina, 0.57%, $1,019, $139,900
7.) West Virginia, 0.58%, $1,044, $103,800
8.) Colorado, 0.60%, $1,073, $247,800
9.) Wyoming, 0.61%, $1,097, $194,800
10.) Arkansas, 0.62%, $1,111, $111,400
11.) Utah, 0.68%, $1,218, $215,900
12.) New Mexico, 0.74%, $1,324, $160,300
13.) Tennessee, 0.75%, $1,335, $142,100
14.) Idaho, 0.76%, $1,366, $162,900
15.) Mississippi, 0.79%, $1,408, $103,100
16.) Virginia, 0.80%, $1,420, $245,000
17.) California, 0.81%, $1,438, $385,500
18.) Arizona, 0.81%, $1,446, $167,500
19.) Kentucky, 0.81%, $1,511, $123,200
20.) Nevada, 0.81%, $1,523, $173,700
21.) North Carolina, 0.81%, $1,524, $124,200
22.) Montana, 0.81%, $1,525, $193,500
23.) Indiana, 0.87%, $1,560, $124,200
24.) Oklahoma, 0.88%, $1,569, $117,900
25.) Georgia, 0.94%, $1,685, $148,100
26.) Missouri, 1.00%, $1,790, $138,400
27.) Florida, 1.06%, $1,894, $159,000
28.) Oregon, 1.08%, $1,929, $237,300
29.) Washington, 1.08%, $1,931, $259,500
30.) Maryland, 1.10%, $1,956, $286,900
31.) North Dakota, 1.12%, $2,000, $153,800
32.) Minnesota, 1.18%, $2,110, $186,200
33.) Alaska, 1.18%, $2,112, $250,000
34.) Massachusetts, 1.20%, $2,139, $333,100
35.) Maine, 1.30%, $2,321, $173,800
36.) South Dakota, 1.34%, $2,389, $140,500
37.) Kansas, 1.40%, $2,502, $132,000
38.) Iowa, 1.48%, $2,649, $129,200
39.) Pennsylvania, 1.53%, $2,725, $166,000
40.) Ohio, 1.56%, $2,794, $129,600
41.) New York, 1.62%, $2,899, $283,400
42.) Rhode Island, 1.63%, $2,915, $238,000
43.) Vermont, 1.75%, $3,116, $217,500
44.) Michigan, 1.78%, $3,172, $122,400
45.) Nebraska, 1.85%, $3,308, $133,200
46.) Texas, 1.90%, $3,386, $136,600
47.) Wisconsin, 1.96%, $3,499, $165,800
48.) Connecticut, $1.97%, $3,517, $270,500
49.) New Hampshire, 2.15%, $3,838, $237,300
50.) Illinois, 2.30%, $4,105, $173,800
51.) New Jersey, 2.35%, $4,189, $315,900

The Highest Tax Rates

WalletHub also compiled a report ranking which states had the highest and lowest tax burdens.

1.) Rank
2.) State
3.) Effective Total Local and State Tax Rates on Median U.S. Household. Assumes “Median U.S. Household” has an annual income of $54,286 (mean third quintile U.S. income); owns a home valued at $178,600 (median U.S. home value); owns a car valued at $23,070 (the highest-selling car of 2016); and spends annually an amount equal to the spending of a household earning the median U.S. income.
4.) Annual State and Local Taxes on Median U.S Household.
Adjusted Overall Rank based on Cost of Living Index

1.) Alaska, 5.64%, $3,060, 5

2.) Delaware, 6.07%, $3,293, 1
3.) Montana, 6.89%, $3,741, 3
4.) Wyoming, 7.43%, $4,036, 2
5.) Nevada, 7.66%, $4,157, 7
6.) Tennessee, 7.97%, $4,3276, 4
7.) Idaho, 8.48%, $4,604, 6
8.) California, 8.79%, $4,774, 34
9.) South Carolina, 8.84%, $4,800, 11
10.) Florida, 8.94%, $4,851, 10
11.) Oregon, 9.22%, $5,004, 26
12.) Utah, 9.25%, $5,019, 8
13.) Colorado, 9.34%, $5,071, 14
14.) Alabama, 9.43%, $5,120, 9
15.) Arizona, 9.60%, $5,211, 12
16.) South Dakota, 9.77%, $5,302, 21
17.) District of Columbia, 10.0%, $5,428, 45
18.) North Dakota, 10.03%, $5,447, 17
19.) New Hampshire, 10.09%, $5,475, 35
20.) Louisiana, 10.33%, $5,608, 16
21.) Hawaii, 10.33%, $5,610, 49
22.) West Virginia, 10.38%, $5,635, 18
23.) Georgia, 10.57%, $5,739, 15
24.) North Carolina, 10.63%, $5,773, 20
25.) Oklahoma, 10.70%, $5,809, 13
26.) New Mexico, 10.73%, $5,825, 23
27.) Virginia, 10.89%, $5,943, 29
28.) Vermont, 10.89%, $5,913, 42
29.) Missouri,11.02%, $5,981, 19
30.) Texas, 11.12%, $6,034, 22
31.) Massachusetts, 11.52%, $6,253, 47
32.) Minnesota, 11.59%%, $6,291, 32
33.) Maine, 11.64%, $6,316, 40
34.) Washington, 11.72%, $6,363, 37
35.) Indiana, 11.87%, $6,444, 24
36.) Maryland, 11.92%, $6,470, 44
37.) Kentucky, 12.01%, $6,522, 28
38.) Mississippi, 12.14%, $6,589, 25
39.) Kansas, 1.28%, $6,665, 30
40.) Arkansas, 12.28%, $6,665, 27
41.) Pennsylvania, 12.33%, $6,691, 39
42.) New Jersey, 12.63%, $6,855, 46
43.) Iowa, 12.84%, $6,968, 33
44.) Michigan, 13.00%, $7,058, 31
45.) Ohio, 13.06%, $7,087, 36
46.) Connecticut, 13.56%, $7,361, 50
47.) Rhode Island, 13.57%, $7,367, 48
48.) New York, 13.58%, $7,370, 51
49.) Wisconsin, 13.60%, $7,384, 41
50.) Nebraska, 13.80%, $7,493, 38
51.) Illinois, 14.76%, $8,011, 43</li>

Adjusted Cost of Living

WalletHub incorporated these factors to then compile a ranking of the states by Adjusted Overall Rank based on Cost of Living Index.

1.) Delaware

2.) Wyoming
3.) Montana
4.) Tennessee
5.) Alaska
6.) Idaho
7.) Nevada
8.) Utah
9.) Alabama
10.) Florida
11.) South Carolina
12.) Arizona
13.) Oklahoma
14.) Colorado
15.) Georgia
16.) Louisiana
17.) North Dakota
18.) West Virginia
19.) Missouri
20.) North Carolina
21.) South Dakota
22.) Texas
23.) New Mexico
24.) Indiana
25.) Mississippi
26.) Oregon
27.) Arkansas
28.) Kentucky
29.) Virginia
30.) Kansas
31.) Michigan
32.) Minnesota
33.) Iowa
34.) California
35.) New Hampshire
36.) Ohio
37.) Washington
38.) Nebraska
39.) Pennsylvania
40.) Maine
41.) Wisconsin
42.) Vermont
43.) Illinois
44.) Maryland
45.) District of Columbia
46.) New Jersey
47.) Massachusetts
48.) Rhode Island
49.) Hawaii
50.) Connecticut
51.) New York