{"id":18729,"date":"2021-04-12T11:40:04","date_gmt":"2021-04-12T11:40:04","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18729"},"modified":"2021-04-12T11:40:04","modified_gmt":"2021-04-12T11:40:04","slug":"property-taxes-jumped-5-4-in-2020","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/property-taxes-jumped-5-4-in-2020\/","title":{"rendered":"Property Taxes Jumped 5.4% in 2020"},"content":{"rendered":"

Property Taxes Jumped 5.4% in 2020<\/h1>\n

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Homeowners may notice an increase in their property tax bills. Municipalities levied about $323 billion in property taxes on single-family homes in 2020, a 5.4% increase compared to 2019, according to ATTOM Data Solutions\u2019 newest property tax analysis for nearly 87 million single-family homes in the U.S.<\/p>\n

The average tax on single-family homes nationwide in 2020 was $3,719\u2014reflecting an effective tax rate of about 1.1%. But many areas of the country faced much higher rates.<\/p>\n

\u201cHomeowners across the United States in 2020 got hit with the largest average property tax hike in the last four years, a sign that the cost of running local governments and public school systems rose well past the rate of inflation,\u201d says Todd Teta, chief product officer for ATTOM Data Solutions. \u201cThe increase was twice what it was in 2019. Fortunately for recent home buyers, they have mortgages with super-low interest rates that somewhat contain the cost of homeownership. But the latest tax numbers speak loud and clear about the continuing pressure on both recent and longtime homeowners to support the rising cost of public services.\u201d<\/p>\n

The states with the highest effective property tax rates in 2020, according to ATTOM Data Solutions\u2019 analysis, are:<\/p>\n