Business & Finance

Guess What State Tops Tax Foundation's List as Worst For Property Taxes?

Credits: Jackie Goldman-Schatell

NEW JERSEY - It may surprise you that North Dakota ranked as No. 10 on The Cheat Sheet's list this week of The 10 Worst States for Property Taxes. But you might have guessed which state was No. 1.

According to the list, which is here, based on the percentage of house value paid in annual taxes, New Jersey surpasses even some states known for high property taxes (Connecticut, as No. 7) and a few surprises (Nebraska, rated No. 5) to rank as having the highest ratio of property taxes to home value.

Homeowners in the Garden State were said to be paying a median tax rate of 1.89 percent of average home value (set at $348,300, according to the study. The median tax bill on that average home was $6,579, according to the study.

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The figures were compiled by the Tax Foundation, although based on somewhat older figures from 2004-2009, looking at property taxes on owner-occupied housing in each state.

The study said that the median American home's annual tax bill was 1.04 percent of the value of their home, with a median tax bill of $1,917. 

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