Property taxes are increasing in every metro area, leading to a national median tax bill of $3,500, up 2.3% from 2023. Notably, in 16 counties, homeowners pay over $10,000 annually. Research indicates approximately half of U.S. homeowners are overpaying taxes, often due to a complex and inconsistent appeals process, varying by location. Key counties faced with high tax burdens include numerous counties in California, New Jersey, and New York. Homeowners uncertain of their assessments can challenge their property tax bills by providing substantial evidence, but they must be familiar with local regulations and procedures.
The national median property tax bill has risen to $3,500, reflecting a 2.3% increase from 2023, highlighting the growing burden on homeowners.
Many homeowners, nearly half in the U.S., are reported to be overpaying property taxes, complicating the appeals process which is inconsistent county-by-county.
Navigating the property tax appeal process varies significantly across counties, necessitating that homeowners understand local rules for a successful challenge.
High property tax bills in select U.S. counties are driven by a combination of elevated property values and tax rates, particularly in New Jersey and California.
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