12 Best Counties for Property Taxes-By Region

Property tax plays an important role in a home purchase deal, it can either make the deal worthwhile or otherwise. There are certain regions in the country with outrageously high property taxes, a good example is Hunterdon County, New Jersey, which is reputed to be among the top three highest in the country.

According to a real estate market analysis done and presented by the U.S Census Bureau, between 2011 and 2015, the average yearly property tax bill was about $2,150. However, in areas of the Northeast, e.g. New Jersey, this number increased to $10,000 a year, all within that time frame.

RewardExpert, a real estate information expert, has released a ranking of the best U.S. counties for property taxes. This is to help guide prospective homebuyers, so they can make more informed decisions. The company’s CEO, in a press release, stated that the move was to help prospective homebuyers choose the right place to invest which would limit long term-expenses.

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The report highlighted the top five counties from the 6 major geographical regions of the U.S. The regions included; Northeast, South Central, South Atlantic, Mountain West, Midwest and Pacific West. Below is a review of two counties from each of the six regions;

Northeast:

1. Sussex County, Delaware

This is a coastal county located on the Delmarva Peninsula. Its favorable assessment ratio earns the county first place in this region. Only 50% of a property’s market value is levied, thereby bringing the already low 0.75% property tax to a lower 0.37% rate.

2. Cambria County, Pennsylvania

Coming in second place in the Northeast is Cambria County. Its position is due to is low property tax rate. Pennsylvania has a favorable farmstead and homestead property tax exclusion which exempts up to fifty percent of a property’s value from taxation.

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South Atlantic:

1. Darlington County, South Carolina

Although this county assess property at full market value, the first $100,000 of a property’s assessed value is tax exempted. The average property value in Darlington County is $139,000, which makes the tax bill only $39,000. The average yearly tax bill in this county is $146.

2. Jones County, Mississippi

This county comes in second place and is position is due to the overly generous homestead exemption of 90% of property value. The property tax bill is therefore based on 10% of the property assessed.

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South Central:

1. Crawford County, Arkansas

In this county, the property tax bill makes up just one-tenth of the percentage of the median home value. The median yearly tax bill in Crawford County is $192.

2. Craighead County, Arizona

This county comes in second place where the average tax bill paid by homeowners is at a measly $237. This is a reflection of the tax rate of 0.14% of the property’s assessed value.

Midwest

1. Grant County, Indiana

This county has the lowest tax bill in the entire country at $24.50. The average sale price of homes here is $75, 945.

2. Vermillion County, Illinois

This comes at second place with taxable value of 33.3 percent of market value of property with an exemption amount $6,000.

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Mountain West:

1. Pueblo County, Colorado

Colorado has the lowest property taxes in this region, where residential property is estimated to a low 7.96% of fair market value. The average home in this county sells for $205,00 with an average yearly tax bill of $371 in Pueblo County.

2. Mesa County, Colorado

The county has an average tax bill of $466 on a home with worth $255,000. The tax rate is at 0.18 percent.

Pacific West:

1. Klamath County

The average selling price of the real estate in this region is at $194,000. The tax rate is at 1.23% with no property transfer tax. The median yearly tax bill in this county is at $2,378.

2. Hawaii County

Hawaii has some of the most expensive real estate in the country. The average home price stands at $439,950. The county taxes real estate at only 0.82%.

These are some major differences! Is your county in the list? Are your property taxes above or below the averages?