N.Y. ranks 10th most expensive for real estate property taxes
By VELVET SPICER
Rochester Business Journal
New York ranks among the most expensive state for real estate property taxes but is one of 24 states with no vehicle property tax, a new report from WalletHub shows.
The average household in New York spends $2,734 on real estate property taxes each year, Highest & Lowest Property Taxes in 2015 shows, ranking the state as the 10th most expensive nationwide.
The most expensive real estate taxes are paid by New Jersey residents, who annually shell out an average of $3,971. The least expensive state for property taxes is Hawaii, where the average is $482 annually.
Some 27 states have vehicle property taxes. Rhode Island drivers annually pay an average of $1,133 in vehicle taxes. The least expensive state of those charging vehicle property tax is Montana, where residents pay an average of $85 annually.
The report found real estate taxes in New Jersey are eight-times higher than in Hawaii, while vehicle property taxes are 13-times higher in Rhode Island than in Montana. Real estate taxes are 39 percent higher in the average blue state than in the average red state.
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