10 Lowest Property Taxed States

what is going on everyone welcome back the world according to briggs we all know there are states with no income tax other states with no sales tax but unfortunately there's no such thing as a state without property tax some states are reasonable and other states will gouge you like i said in the last video today we'll look at the reasonable states last one was about the gouging states the absolute worst state in the country when it comes to effective property tax is new jersey at 2.49 percent the tax on a median home in new jersey is 8 362. as you'll see in this video that's outrageous almost 70 percent of americans own at least one home if you're a renter rest assured your landlord has you paying at least a portion of the property tax this video is based on the u.s census data from 2020 the average american homeowner pays a little under 2500 a year in property tax what we're going to show you in this video is what the effective tax rate is in each of these states and how much you would pay if you had the average home in the united states which the median home price in the united states is 217 000. we'll also show you what the average home price or median home price is in that state we're talking about plus what you would pay if you had that home let's take a look [Music] number 10 arkansas you know it is really good to see the natural state on a positive list they don't normally end up here unless we're talking about you know like i've said many times before that whole northwest corner of the state you'll probably be surprised at some of the other ones on this list later on as we move on down the line a lot of states that are known for suckage have a really low effective property tax arkansas has an effective property tax of 0.62 percent so if you got that average home we were talking about nationally the 217 000 home you would be paying about 1 358 a year in property tax now the state median home price in arkansas is really low it's 127 800 dollars that's not bad if you got a house around that price you'd be paying 798 a year in property tax keep in mind in new jersey it's like 8 000. that's phenomenal and we're just at number 10. number nine wyoming wyoming is a strange state to a lot of people it's got a lot of open land a lot of good people and that whole frontier vibe going on there wyoming does have a few areas that are extremely expensive like the whole jackson whole wyoming area they have a few other places but most the state is relatively inexpensive when it comes to everything including real estate wyoming's effective property tax is 0.61 if you got that 217 000 home you'd be looking at about 1 319 annually in property tax wyoming's median home price is 220 500 about 100 000 more than arkansas so you would be paying 1 337 annually for property tax in wyoming number eight nevada the silver state has some pretty low taxes when it comes to property and a few other things they make their money on gambling and tourism so they really don't stick it to the locals as much as other states do and this is a prime example the effective property tax in nevada is only 0.60 percent meaning if you got that 217 000 home you're looking at one thousand three hundred and ten dollars in annual property tax nevada like so many other western states has a lot of open land so their median and average home prices are a little deceiving when you just look at those numbers because if you go out to the metro area of las vegas like henderson and all that a decent home is going to run you over 500 000 but nevada's median home price is 267 900 if you got a house at that price you're looking at 1 614 annually in property tax but just keep in mind if you move to the las vegas metro area or the reno area lake tahoe you're gonna be paying a bunch more number seven west virginia the mountain state makes a positive list that is so refreshing honestly if you're on a fixed income and you don't mind cold weather because they get some pretty cold winters west virginia is definitely a place you should consider looking into their real estate is dirt cheap they're cost livings dirt cheap the people are wonderful i mean the ones that aren't on their way to their fourth try at rehab everyone else is pretty decent really good people in west virginia i've had nothing but good experiences they just have a really bad reputation because of things that have gone on with industries and jobs and stuff like that in the state and of course the opioid crisis which i've talked about at nauseam on this channel but the effective property tax in west virginia is .58 meaning if you buy that magical 217 000 home in west virginia you're going to be paying 1 269 annually now the median home price is actually a lot cheaper than the national it's 119 600 so if you've got a median price house in west virginia you're looking at 698 dollars a year in property tax number six delaware the first state isn't a state that normally shows up on anything that has to do with a low cost living or anything like that but their property tax is pretty low like most states delaware has some really expensive cities but they have a lot of rural areas that are relatively affordable so not only are the homes reasonably priced you're not getting killed most the time on your property tax delaware's effective property tax is point five seven percent meaning if you got that magical two hundred seventeen thousand dollar home it would run you about one thousand two hundred forty dollars annually in property tax delaware's median home price is two hundred and fifty one thousand one hundred dollars so if you got that house you're looking at 1431 annually in property tax number five south carolina the palmetto state is another surprising state normally they don't end up on a positive list unless we're talking about the charleston area or the low country you stay in those areas and you got some nice places to live with reasonable real estate charleston does get expensive but for the most part this is a very affordable state when it comes to buying some property the effective property tax in south carolina is 0.57 percent meaning if you bought that magical 217 000 home you're only looking at about 1 238 dollars annually south carolina does have a lot of really inexpensive places to live so their average home price or median home price is really low it's actually 162 300 so if you got that house you're looking at about 924 dollars annually this is a great place to retire outside the charleston area i mean if you're looking at cost charleston is a great place to live and i really like bluffton that's down near the georgia border near savannah great place number four louisiana yes the pelican state makes it on a positive list this is so rare i'm happy for louisiana i mean it's a decent state they just got a lot of problems high real estate prices and high real estate taxes are not one of their problems they're actually really low if you want to move down to the pelican state or the sportsman's paradise as they call it it's not going to cost you too much their effective property tax is 0.55 percent if you have that magical home of 217 000 you're looking at 1 187 annually for property tax not bad the median home price in louisiana is only one hundred and sixty three thousand one hundred dollars meaning you're looking at eight hundred and ninety dollars annually in property tax if you get that meeting home number three colorado this one kind of blew me away i did not know colorado had this low of property tax kind of surprised colorado is expensive in most areas i mean aspen is extremely expensive denver's pretty expensive colorado springs boulder is expensive every place is expensive in colorado especially when you consider it's an inland state most the time the expensive states are right on the coast but if you decide you want to relocate to the rockies you're looking at 0.51 percent in effective property tax so if you get that magical 217 000 median priced home you're looking at 1 113 annually their home prices are a little more expensive than a lot of the other ones on this list actually they're nothing compared to number one on this list so hold on for that one but the median home price in colorado is three hundred and forty three thousand three hundred dollars meaning if you get that house you're looking at about one thousand seven hundred and fifty six dollars annually for property tax number two alabama again mind blown alabama is what we would normally consider a suckage state here at world according to briggs but here they are at number two because they don't gouge people when it comes to property tax alabama is sort of becoming what south carolina calls a half-back state those people that move from like new york or something like that down to florida decide they don't like florida so they move halfway back to new york well alabama is starting to kind of have that happen like south carolina does south carolina gets a lot of that great state for retirees though the effective property tax in alabama is .41 meaning if you got the 217 000 home you're looking at 895 a year for property tax that is not bad now it gets better their median home price is only 142 700 if you got that house you're looking at 587 a year in property tax that's pretty low buckle up number one is going to surprise a lot of you before we get to number one don't forget we have another channel called on this day there is a link in the description below all right on to number one and number one hawaii that's right the aloha state doesn't gouge its residents on property tax now their homes are very expensive so it's not gonna seem like it's a deal but when you consider that it's the home price that's up there not the property tax it's easier to choke down the aloha state's effective property tax is point two eight percent keep in mind the absolute highest was new jersey at almost two and a half percent two point four nine percent they're less than a half a percent they're almost a quarter of a percent of effective property tax that is not bad if you could find that 217 000 home in hawaii which it will be very hard and you're probably gonna have to do a ton of work like i mean get rid of the grass hut that's on the property and actually build a legit house that's probably what you're looking at anyway if you got that 217 000 house you're looking at 606 dollars a year in property tax that is not bad but the median home price in hawaii is 615 300 meaning if you got that median price home you're looking at one thousand seven hundred and fifteen dollars annually for property tax all right that's today's video hope you guys enjoyed it hope you got some information out of it now go out have a great day be nice to each other

Channel: World According To Briggs

Views: 219,453

Keywords: where to live in America, Top 10, Top Ten Lists, world according to Briggs, United States, Ranked, Lists, Best States, Best Cities, Relocate, best cities to visit in usa, united states of america, property tax, property taxes by states, cheapest states, property taxes, property taxes explained, states with the lowest taxes, retirement planning, property tax by state, real estate, income tax, states property tax

Id: fym6SUua4oY

Length: 10min 50sec (650 seconds)

Published: Fri Dec 10 2021