Introduction
The property tax, also known as the millage rate, is one of the primary sources of revenue generated by state authorities. It is measured based on the real market value (assessed value) of the property and varies from state to state. The money from property taxes generally goes towards community projects, such as infrastructure development, public school improvements, or other essential services.
The assessment of property tax is known as the mill, and it is calculated through the multiplication of the state tax rate, the value of the property, and the assessment ratio (a portion of value subject to tax). This is often influenced by external as well as internal market factors, like the availability of land, the location of the land, and the state it was assessed in.
Generally, legislation on property tax falls upon the shoulders of state governments, but the federal government does occasionally issue legislation regarding issues such as the Residential Solar Opportunity Act of 2021, where property tax credit is provided to energy-efficient households. Other legislation like the SALT Act, introduced to the Senate, aims to reduce the limitations on tax deductibles for property and income taxes for the year 2021.
If you want to learn more about property taxes as well as which states have the best rates, you can refer to the data in the charts.
| # | State | Property Tax Rate | Income Tax Rate | Corporate Tax Rate | State-Local Tax Burden |
|---|---|---|---|---|---|
| 1 | Hawaii | 0.31% | 1.4% | 6.4% | 14.1% |
| 2 | Alabama | 0.37% | 2% | 6.5% | 9.8% |
| 3 | Louisiana | 0.51% | 1.85% | 7.5% | 9.1% |
| 4 | Wyoming | 0.51% | 0% | 0% | 7.5% |
| 5 | Colorado | 0.52% | 4.55% | 4.6% | 9.7% |
| 6 | South Carolina | 0.53% | 0% | 5% | 8.9% |
| 7 | West Virginia | 0.53% | 3% | 6.5% | 9.8% |
| 8 | Nevada | 0.56% | 0% | 0% | 9.6% |
| 9 | Utah | 0.56% | 4.95% | 4.9% | 12.1% |
| 10 | Delaware | 0.59% | 2.2% | 8.7% | 12.4% |
| 11 | New Mexico | 0.59% | 1.7% | 5.9% | 10.2% |
| 12 | Arizona | 0.6% | 2.59% | 4.9% | 9.5% |
| 13 | Arkansas | 0.61% | 2% | 5.3% | 10.2% |
| 14 | Mississippi | 0.63% | 4% | 5% | 9.8% |
| 15 | Tennessee | 0.63% | 0% | 6.5% | 7.6% |
| 16 | Idaho | 0.65% | 1% | 5.8% | 10.7% |
| 17 | California | 0.7% | 1% | 8.8% | 13.5% |
| 18 | Montana | 0.74% | 1% | 6.8% | 10.5% |
| 19 | Kentucky | 0.78% | 5% | 5% | 9.6% |
| 20 | North Carolina | 0.78% | 4.99% | 2.5% | 9.9% |
| 21 | Indiana | 0.81% | 3.23% | 4.9% | 9.3% |
| 22 | Oklahoma | 0.83% | 0.25% | 4% | 9% |
| 23 | Virginia | 0.84% | 2% | 6% | 12.5% |
| 24 | Washington | 0.84% | 7% | 0% | 10.7% |
| 25 | Florida | 0.86% | 0% | 5.5% | 9.1% |
| 26 | Georgia | 0.87% | 1% | 5.8% | 8.9% |
| 27 | North Dakota | 0.88% | 1.1% | 4.3% | 8.8% |
| 28 | Oregon | 0.91% | 4.75% | 7.6% | 10.8% |
| 29 | Missouri | 0.96% | 1.5% | 4% | 9.3% |
| 30 | Alaska | 0.98% | 0% | 9.4% | 4.6% |
| 31 | Maryland | 1.01% | 2% | 8.3% | 11.3% |
| 32 | Minnesota | 1.05% | 5.35% | 9.8% | 12.1% |
| 33 | Massachusetts | 1.08% | 5% | 8% | 11.5% |
| 34 | South Dakota | 1.14% | 0% | 0% | 8.4% |
| 35 | Maine | 1.2% | 5.8% | 8.9% | 12.4% |
| 36 | Kansas | 1.28% | 3.1% | 7% | 11.2% |
| 37 | New York | 1.3% | 4% | 7.3% | 15.9% |
| 38 | Rhode Island | 1.37% | 3.75% | 7% | 11.4% |
| 39 | Iowa | 1.43% | 0.33% | 8.4% | 11.2% |
| 40 | Pennsylvania | 1.43% | 3.07% | 9% | 10.6% |
| 41 | Ohio | 1.52% | 2.77% | 0% | 10% |
| 42 | Michigan | 1.53% | 4.25% | 6% | 8.6% |
| 43 | Wisconsin | 1.53% | 3.54% | 7.9% | 10.9% |
| 44 | Nebraska | 1.54% | 2.46% | 7.3% | 11.5% |
| 45 | Texas | 1.6% | 0% | 0% | 8.6% |
| 46 | Connecticut | 1.73% | 3% | 7.5% | 15.4% |
| 47 | Vermont | 1.76% | 3.35% | 8.5% | 13.6% |
| 48 | New Hampshire | 1.89% | 5% | 7.5% | 9.6% |
| 49 | Illinois | 1.97% | 4.95% | 9.5% | 12.9% |
| 50 | New Jersey | 2.13% | 1.4% | 11.5% | 13.2% |
Property Tax Rate by State
Alabama
0.37%
Ranked in the US
#2
Ranked in the US
#21
Ranked in the US
#26
Ranked in the US
#20
Alaska
0.98%
Ranked in the US
#30
Ranked in the US
#1
Ranked in the US
#48
Ranked in the US
#1
Arizona
Ranked in the US
#12
2.59%
Ranked in the US
#27
Ranked in the US
#12
Ranked in the US
#15
Arkansas
0.61%
Ranked in the US
#13
Ranked in the US
#22
Ranked in the US
#18
Ranked in the US
#25
California
Ranked in the US
#17
Ranked in the US
#11
Ranked in the US
#45
Ranked in the US
#47
Colorado
0.52%
Ranked in the US
#5
4.55%
Ranked in the US
#41
Ranked in the US
#11
Ranked in the US
#19
Connecticut
1.73%
Ranked in the US
#46
Ranked in the US
#29
Ranked in the US
#34
Ranked in the US
#50
Delaware
0.59%
Ranked in the US
#10
2.2%
Ranked in the US
#25
Ranked in the US
#44
Ranked in the US
#42
Florida
0.86%
Ranked in the US
#25
Ranked in the US
#2
Ranked in the US
#19
Ranked in the US
#11
Georgia
0.87%
Ranked in the US
#26
Ranked in the US
#12
Ranked in the US
#20
Ranked in the US
#8
Hawaii
0.31%
Ranked in the US
#1
1.4%
Ranked in the US
#16
Ranked in the US
#25
Ranked in the US
#49
Idaho
0.65%
Ranked in the US
#16
Ranked in the US
#13
Ranked in the US
#21
Ranked in the US
#29
Illinois
1.97%
Ranked in the US
#49
4.95%
Ranked in the US
#43
Ranked in the US
#49
Ranked in the US
#45
Indiana
0.81%
Ranked in the US
#21
3.23%
Ranked in the US
#33
Ranked in the US
#13
Ranked in the US
#13
Iowa
1.43%
Ranked in the US
#39
0.33%
Ranked in the US
#10
Ranked in the US
#42
Ranked in the US
#33
Kansas
1.28%
Ranked in the US
#36
3.1%
Ranked in the US
#32
Ranked in the US
#30
Ranked in the US
#34
Kentucky
0.78%
Ranked in the US
#19
Ranked in the US
#46
Ranked in the US
#15
Ranked in the US
#16
Louisiana
0.51%
Ranked in the US
#3
1.85%
Ranked in the US
#20
Ranked in the US
#35
Ranked in the US
#12
Maine
Ranked in the US
#35
5.8%
Ranked in the US
#50
Ranked in the US
#46
Ranked in the US
#43
Maryland
1.01%
Ranked in the US
#31
Ranked in the US
#23
Ranked in the US
#41
Ranked in the US
#35
Massachusetts
1.08%
Ranked in the US
#33
Ranked in the US
#47
Ranked in the US
#39
Ranked in the US
#37
Michigan
1.53%
Ranked in the US
#42
4.25%
Ranked in the US
#40
Ranked in the US
#23
Ranked in the US
#5
Minnesota
1.05%
Ranked in the US
#32
5.35%
Ranked in the US
#49
Ranked in the US
#50
Ranked in the US
#40
Mississippi
0.63%
Ranked in the US
#14
Ranked in the US
#38
Ranked in the US
#16
Ranked in the US
#21
Missouri
0.96%
Ranked in the US
#29
1.5%
Ranked in the US
#18
Ranked in the US
#8
Ranked in the US
#14
Montana
0.74%
Ranked in the US
#18
Ranked in the US
#14
Ranked in the US
#29
Ranked in the US
#27
Nebraska
1.54%
Ranked in the US
#44
2.46%
Ranked in the US
#26
Ranked in the US
#32
Ranked in the US
#38
Nevada
0.56%
Ranked in the US
#8
Ranked in the US
#3
Ranked in the US
#1
Ranked in the US
#17
New Hampshire
1.89%
Ranked in the US
#48
Ranked in the US
#48
Ranked in the US
#36
Ranked in the US
#18
New Jersey
2.13%
Ranked in the US
#50
1.4%
Ranked in the US
#17
11.5%
Ranked in the US
#51
Ranked in the US
#46
New Mexico
0.59%
Ranked in the US
#11
1.7%
Ranked in the US
#19
Ranked in the US
#22
Ranked in the US
#26
New York
Ranked in the US
#37
Ranked in the US
#39
Ranked in the US
#33
Ranked in the US
#51
North Carolina
0.78%
Ranked in the US
#20
4.99%
Ranked in the US
#45
Ranked in the US
#7
Ranked in the US
#23
North Dakota
0.88%
Ranked in the US
#27
1.1%
Ranked in the US
#15
Ranked in the US
#10
Ranked in the US
#7
Ohio
1.52%
Ranked in the US
#41
2.77%
Ranked in the US
#28
Ranked in the US
#2
Ranked in the US
#24
Oklahoma
0.83%
Ranked in the US
#22
0.25%
Ranked in the US
#9
Ranked in the US
#9
Ranked in the US
#10
Oregon
0.91%
Ranked in the US
#28
4.75%
Ranked in the US
#42
Ranked in the US
#37
Ranked in the US
#31
Pennsylvania
1.43%
Ranked in the US
#40
3.07%
Ranked in the US
#31
Ranked in the US
#47
Ranked in the US
#28
Rhode Island
1.37%
Ranked in the US
#38
3.75%
Ranked in the US
#36
Ranked in the US
#31
Ranked in the US
#36
South Carolina
0.53%
Ranked in the US
#6
Ranked in the US
#4
Ranked in the US
#17
Ranked in the US
#9
South Dakota
1.14%
Ranked in the US
#34
Ranked in the US
#5
Ranked in the US
#3
Ranked in the US
#4
Tennessee
0.63%
Ranked in the US
#15
Ranked in the US
#6
Ranked in the US
#27
Ranked in the US
#3
Texas
Ranked in the US
#45
Ranked in the US
#7
Ranked in the US
#4
Ranked in the US
#6
Utah
0.56%
Ranked in the US
#9
4.95%
Ranked in the US
#44
Ranked in the US
#14
Ranked in the US
#41
Vermont
1.76%
Ranked in the US
#47
3.35%
Ranked in the US
#34
Ranked in the US
#43
Ranked in the US
#48
Virginia
0.84%
Ranked in the US
#23
Ranked in the US
#24
Ranked in the US
#24
Ranked in the US
#44
Washington
0.84%
Ranked in the US
#24
Ranked in the US
#51
Ranked in the US
#5
Ranked in the US
#30
West Virginia
0.53%
Ranked in the US
#7
Ranked in the US
#30
Ranked in the US
#28
Ranked in the US
#22
Wisconsin
1.53%
Ranked in the US
#43
3.54%
Ranked in the US
#35
Ranked in the US
#38
Ranked in the US
#32
Wyoming
0.51%
Ranked in the US
#4
Ranked in the US
#8
Ranked in the US
#6
Ranked in the US
#2