"Hawaii ranked first with the lowest effective rate at 0.27%, translating to $888 on a $332,700 home. Because Hawaii's median home value is $839,100, the typical annual bill there is $2,239. Alabama followed at 0.38%, or $1,249 on a $332,700 home. Nevada ranked third at 0.47%, or $1,549. Arizona, Colorado and South Carolina were next at 0.48%. Idaho placed seventh at 0.49%, while Delaware and Tennessee tied at 0.5%. Utah rounded out the top 10 at 0.52%."
"At the high end, New Jersey ranked last with an effective rate of 2.11%, with homeowners paying $7,022 on a $332,700 home and $9,590 on the state's median home value of $454,400. Illinois followed at 2.01%, or $6,694. Connecticut ranked 49th at 1.81%, or $6,024. New Hampshire was 48th at 1.66%, or $5,511. Texas and Nebraska tied at 1.49%, equating to $4,961 and $4,949, respectively, on a $332,700 home. New York ranked 46th at 1.55%, or $5,167."
"That proposal would fully reimburse property taxes on primary residences for qualifying residents ages 65 and older who have maintained continuous in-state residency for at least 20 years. Mitchell said the program's cost would equal about 3% of Tennessee's annual state budget and could be funded by the state's recurring surplus, estimated at $1.5 billion to $2.5 billion per year."
States show wide variation in effective real estate property tax rates, measured using the national median home value of $332,700 and each state's median. Hawaii posts the lowest effective rate at 0.27%, while New Jersey has the highest at 2.11%, producing annual bills ranging from $888 to $7,022 on a $332,700 home. Several states clustered at low rates include Alabama, Nevada, Arizona, Colorado, South Carolina, Idaho, Delaware, Tennessee, and Utah; high-rate states include New Jersey, Illinois, Connecticut, New Hampshire, Texas, Nebraska, and New York. Some jurisdictions are proposing senior tax-relief programs to reduce the burden on long-term older homeowners.
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