Michigan’s Senate approved a bill yesterday to extend the state’s film tax credit program, which was limited and reduced in 2011 and set to expire in 2017. It’s now up to the House to decide whether to proceed. From...
- Monday Map: Growth of Property Taxes by State
Monday Map: Growth of Property Taxes by State
Today's Monday Map looks at the growth of property taxes between 2009 and 2010. The basic metric we use to judge property tax levels is the median real estate tax divided by the median home value. This figure more than doubled in Louisiana, rising over 140% (though it should be said that Louisiana still ranked lowest overall in 2009, and only jumped to 3rd lowest for 2010.) North Dakota and Indiana are the only two states that saw a decrease.
Click on the map to enlarge it.
Update: A few readers have written in asking me to emphasize that the map is showing the growth not of the median property tax amount, but rather a rough measure of the median effective property tax rate, which is true. There's growth in this metric across the board, and one of the main causes is that assessed home values take some time to catch up to actual market values. In a period of decreasing home prices, that means higher effective property tax rates.
View previous Monday Maps here.
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