Becoming a homeowner can be challenging, and high property taxes only add to the hurdles homebuyers face. According to a survey from online lending marketplace LendingTree, between 2021 and 2023 property taxes rose by an average of 10.4% nationally to a median $2,969 annually (about $247 per month).
For homeowners without a mortgage, the median property tax was $2,474, while those with a mortgage were paying a median of $3,343.
How did the property tax increases shake out across the nation?
While all 50 of the largest U.S. metros saw property taxes increase, 11 saw hikes that remained below the 10.4% national average.
The highs:
Tampa, Fla., Indianapolis, and Dallas, saw the biggest increases at 23.3%, 19.8%, and 19%, respectively.
The lows:
The smallest increases occurred in Pittsburgh, Philadelphia, and Milwaukee. There, property taxes rose by 4.4%, 8.2%, and 8.3%, respectively.
So, which metros have the highest and the lowest media property taxes?
Of the 50 largest metros, New York, San Jose, Calif., and San Francisco have the highest taxes:
- New York ($9,937)
- San Jose ($9,554)
- San Francisco ($8,156)
And Birmingham, Ala., has the lowest ($1,091), followed by Memphis, Tenn., ($1,856) and Louisville, Ky., ($1,912). See where other metros rank
