Illinois Is Second Worst For Property Taxes

New Jersey, Illinois and Texas lead the way when it comes to states with the highest effective property tax rates, according to a new report released by the property database ATTOM data solutions. Illinois comes in at No. 2 with an effective tax rate of 2.13 percent.

The 2016 property tax analysis released Thursday found that property taxes levied on single family homes in 2016 totaled $277.7 billion, an average of $3,296 per home and an effective tax rate of 1.15 percent. The analysis was conducted for more than 84 million single family homes in the U.S.

According to the analysis, the 10 states with the highest property tax rates are:

1. New Jersey
2. Illinois
3. Texas
4. New Hampshire
5. Vermont
6. Connecticut
7. Pennsylvania
8. New York
9. Ohio
10. Rhode Island

The states with the lowest property tax rates are:

1. Hawaii
2. Alabama
3. Colorado
4. Tennessee
5. Delaware
6. West Virginia
7. South Carolina
8. Nevada
9. Utah
10. Arkansas

The analysis also found that out of the 586 counties that were analyzed, nine – in New Jersey, New York, California and Connecticut – had average annual property taxes of more than $10,000. The counties that were analyzed had a population of at least 100,000 and at least 10,000 single family homes.

According to the analysis, the average annual property taxes in other Illinois is listed as below:

• Lake: $8,828
• DuPage: $7,686
• Kane: $6,432
• McHenry: $6,335
• Kendall: $6,264
• Cook: $5,660
• Will: $5,398
• DeKalb: $4,861

According to the analysis, the average annual property tax and effective tax rate for owner occupied single family homes was higher than it was for non-owner occupied or investment homes.

According to ATTOM, the report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county level along with estimated market values of single family homes calculated using an automated valuation model (AVM).

The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.

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