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
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.
