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CT and NY ranked among highest property tax states

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Connecticut ranked fourth and New York ranked ninth in a new WalletHub survey of the nation’s most expensive state property taxes.

Connecticut carried a 2.07 percent effective real estate tax rate and $3,999 in annual taxes on a home priced at $194,000. WalletHub determined that Connecticut’s median price for a home is $270,000, and the annual tax on a median-priced home was $5,582.

New York carried a 1.68 percent effective real estate tax rate and $3,246 in annual taxes on a home priced at $194,000. WalletHub determined that New York’s median price for a home is $293,000, and the annual tax on a median priced home was $4,915.

Real estate tax ranking

Source: WalletHub

Among the 50 states and the District of Columbia, New Jersey had the nation’s highest property taxes while Hawaii had the lowest.

WalletHub also issued a survey on automobile taxes, with Connecticut ranking as the fifth most expensive state with an effective vehicle tax rate of 2.59 percent and $632 in annual taxes for a $24,000 car. New York was among 23 states and the District of Columbia that did not require an effective vehicle tax rate on its residents’ automobiles.

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