Effective property tax rates on owner-occupied housing, median annual property tax bill, and homestead exemption rules for all 50 states + DC. Source: Tax Foundation analysis of Census ACS 2022 (published 2024).
Sorted by effective property tax rate (highest first). The effective rate is property taxes paid as a percentage of owner-occupied housing value — the most meaningful single comparison metric across states. Click any state for the full breakdown including homestead exemption, assessment caps, and statutory citation.
| State | Effective Rate | Median Bill | Assessment Cap |
|---|---|---|---|
| New Jersey | 2.23% | $9,345 | 2% annual levy cap |
| Illinois | 2.08% | $5,055 | — |
| New Hampshire | 1.93% | $6,097 | — |
| Vermont | 1.83% | $4,859 | — |
| Connecticut | 1.79% | $6,396 | — |
| Texas | 1.68% | $3,872 | 10% appraisal cap |
| Nebraska | 1.63% | $3,315 | — |
| Wisconsin | 1.61% | $3,473 | — |
| Ohio | 1.59% | $2,659 | — |
| Pennsylvania | 1.49% | $3,187 | — |
| Iowa | 1.40% | $2,630 | — |
| New York | 1.40% | $6,303 | 2% annual levy cap |
| Rhode Island | 1.40% | $4,734 | 4% annual levy cap |
| Michigan | 1.38% | $2,767 | 5% or CPI cap |
| Kansas | 1.26% | $2,355 | — |
| South Dakota | 1.17% | $2,331 | — |
| Massachusetts | 1.14% | $5,361 | 2.5% levy cap |
| Minnesota | 1.11% | $3,019 | — |
| Maine | 1.09% | $3,258 | — |
| Maryland | 1.05% | $3,633 | 10% annual cap |
| Alaska | 1.04% | $3,650 | — |
| North Dakota | 0.97% | $2,138 | — |
| Oregon | 0.93% | $3,633 | 3% annual MAV cap |
| Florida | 0.91% | $2,386 | 3% annual cap (SOH) |
| Missouri | 0.91% | $1,746 | — |
| Oklahoma | 0.89% | $1,424 | 3% / 5% annual cap |
| Washington | 0.87% | $4,061 | 1% annual levy cap |
| Virginia | 0.82% | $2,474 | — |
| Georgia | 0.81% | $2,086 | — |
| Kentucky | 0.78% | $1,450 | — |
| Mississippi | 0.75% | $1,052 | — |
| Montana | 0.74% | $2,189 | — |
| California | 0.71% | $4,831 | 2% annual cap (Prop 13) |
| Indiana | 0.71% | $1,497 | 1% of gross AV |
| New Mexico | 0.67% | $1,740 | 3% annual cap |
| North Carolina | 0.63% | $1,655 | — |
| District of Columbia | 0.62% | $3,641 | 10% annual cap |
| Delaware | 0.61% | $1,694 | — |
| Tennessee | 0.58% | $1,376 | — |
| South Carolina | 0.57% | $1,208 | 15% reassessment cap |
| Utah | 0.57% | $2,241 | — |
| West Virginia | 0.57% | $809 | — |
| Louisiana | 0.55% | $1,106 | — |
| Nevada | 0.55% | $1,884 | 3% annual cap |
| Wyoming | 0.55% | $1,567 | 4% annual cap (2024) |
| Arkansas | 0.53% | $905 | 5% annual cap |
| Idaho | 0.47% | $1,872 | — |
| Arizona | 0.45% | $1,707 | 5% annual LPV cap |
| Colorado | 0.45% | $2,422 | — |
| Alabama | 0.36% | $742 | — |
| Hawaii | 0.32% | $2,054 | — |
Effective rate normalizes for differences in nominal millage and assessment ratio across states. A 1.50% effective rate means property taxes equal 1.50% of the home's market value annually — so a $400,000 home would generate ~$6,000 in annual taxes regardless of how the local jurisdiction labels its mill rate or assessment ratio.
Median bill is the actual dollar amount the median owner-occupied household pays, from Census ACS 2022 Table B25103. It reflects both the rate and the underlying property values, so high-rate states with low home values (e.g., West Virginia) can show modest median bills while moderate-rate states with high home values (e.g., California) show large bills.
Assessment caps limit how fast taxable value can grow year over year, even as market values rise. California's Proposition 13 (2% cap) and Florida's Save Our Homes (3% cap) are the strictest; they protect long-term owners but create wide disparities between long-tenure and recent buyers.
Property tax is typically the second-largest fixed operating expense for rental property after debt service. A 1-percentage-point difference in effective rate is the difference between a $4,000 and an $8,000 annual tax bill on a $400,000 property — material enough to determine whether a deal pencils.
Investment properties usually do not qualify for homestead exemptions or assessment caps, which apply to owner-occupied primary residences only. In states with strong owner-occupant protections (CA, FL, MI, OR), this means rental property bears the full brunt of reassessment on transfer — a hidden underwriting hazard for buyers acquiring tenant-occupied stock.
Effective rate source: Tax Foundation, "Property Taxes Paid as a Percentage of Owner-Occupied Housing Value," using U.S. Census Bureau ACS 2022 (B25103/B25077), published 2024. Homestead and cap rules from state statutes cited per row. Last updated April 29, 2026. For informational purposes only — not tax or legal advice.
