PA Property Tax Burden Among Nation's Worst, Study Says

PENNSYLVANIA - The information probably won't shock most homeowners across the state, but a new study reveals that Pennsylvania real estate tax rates are among the nation's highest. The state has the country's 11th worst property tax rates, according to personal finance website WalletHub.

Pennsylvania has an effective real estate tax rate of 1.59 percent and annual taxes on a $205,000 home are $3,257, WalletHub research indicated. The median home value in the state is $174,100 and the annual taxes on homes priced at the state median are $2,767.

WalletHub used U.S. Census Bureau data to determine real estate property tax rates, then divided the median real estate tax payment by the median home price in each state. Researchers then used the resulting rates to obtain the dollar amount paid as real estate tax on a house worth $204,900 - the median value for a home in the U.S. as of 2018, according to the census bureau.

Under that methodology. Pennsylvania is better than New Jersey, which has the nation's worst property tax rate. According to WalletHub, the state has an effective property tax rate of 2.47 percent and annual taxes on a $205,000 home are $5,064. The median home value is $327,900 and the annual taxes on homes priced at the median are $8,104.

But Pennsylvania has a considerably higher rate than Hawaii, which has the nation's best property tax situation. The effective property tax rate there is 0.27 percent and annual taxes on a $205,000 home are just $560. The median home value is $587,700 and the annual taxes on median-priced homes are $1,067.

According to WalletHub, these are the states with the worst property tax rates:

1. New Jersey

2. Illinois

3. New Hampshire

4. Connecticut

5. Wisconsin

6. Vermont

7. Texas

8. Nebraska

9. New York

10. Rhode Island

11. Pennsylvania

You can see the entire study here.