The Latest on Property Taxes

October 27, 2011

If it feels like you’re paying more in property taxes, it’s probably because you are. (And it may be in your mind, as tax payments are due in a number of jurisdictions.) While we can’t help you pay your property taxes, we can help you see how your property taxes compare to other counties and states.

While other tax revenue sources for state and local governments have been sluggish in the economic downturn, property taxes continue to be strong revenue collectors. This is driven in part by local governments’ ability to increase rates even as assessed values drop. Below is a chart of the average annual change in state and local tax revenue since 2007 (from the U.S. Census Bureau):

Average Annual Change in State and Local Tax Revenues by Type of Tax, 2007-2011

All State and Local Taxes Individual Income Tax Corporate Income Tax Property Tax Sales/Gross Receipts Tax Gasoline Tax Cigarette Tax Alcohol Taxes Car Taxes & Drivers License Fees
+1.7% +0.1% -4.7% +5.0% -0.1% +1.5% +3.5% +2.8% +2.7%

Source: U.S. Census Bureau Quarterly Summary of State and Local Government Tax Revenue

Also see:

This map shows the median property taxes paid for each county in the U.S.:

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