Property Tax Rates By State

Property tax
How does Florida compare in terms of property taxes?

As a homeowner, property taxes are unavoidable regardless of which state you live in. Of course, the financial burden caused by property taxes can vary quite significantly by state. To view our property tax ranking report for 2022, click here. Below we will discuss the latest property tax rankings for 2023 based on an analysis from WalletHub. This study was based on using a median home price of $244,900. To view the full report, click here.

Top 10 states with highest property taxes

  • 1. New Jersey (2.47%)
  • 2. Illinois (2.23%)
  • 3. Connecticut (2.15%)
  • 4. New Hampshire (2.09%)
  • 5. Vermont (1.90%)
  • 6. Texas (1.74%)
  • 7. Wisconsin (1.73%)
  • 8. New York (1.73%)
  • 9. Nebraska (1.67%)
  • 10. Iowa (1.57%)

Top 10 states with lowest property taxes

  • 1. Hawaii (0.29%)
  • 2. Alabama (0.41%)
  • 3. Colorado (0.51%)
  • 4. Nevada (0.55%)
  • 5. Louisiana (0.56%)*
  • 5. South Carolina (0.56%) *tied with Louisiana
  • 7. District of Columbia (0.57%)
  • 8. Delaware (0.58%)*
  • 8. Utah (0.58%) *tied with Delaware
  • 10. West Virginia (0.59%)

Where does Florida rank?

As for The Sunshine State, it currently ranks as the 24th lowest for property taxes. Keep in mind, the state of Florida also lacks a state income tax or a vehicle property tax. As for the complete breakdown for Florida property taxes, it is as follows:

  • Effective real estate tax rate: 0.86%
  • Median home value: $248,700
  • Annual taxes on a median priced home: $2,143


Coming in ranked #24, Florida’s national rank in terms of property tax levels remained unchanged from 2022. The effective real estate tax rate did come in slightly lower at 0.86%, as compared to the 0.89% rate seen in 2022. Not surprisingly, we did see the median home value increase from $215,300 in 2022 to $248,700 in 2023. As a result, the annual taxes on a median priced home in The Sunshine State went up from $1,914 in 2022 to $2,143 in 2023.

Overall, considering that Florida does not have a state income tax, it continues to be a highly desirable location for Americans looking to escape increased tax burdens. Although there are plenty of reasons to move to Florida, the financial burden from taxes overall are generally cited by many Americans relocating to The Sunshine State.

Are you thinking about moving to Florida? We can help! Contact Natasha at Live South Florida Realty, Inc. today to get started on accomplishing your dream! Also, don’t forget to download our free Florida Home Search app for your smartphone or tablet!

By natasha moore

REALTOR® with Live South Florida Realty, Inc.