Louisiana is among the friendliest states within the nation for actual property taxes Breaking Information

(The middle place) – Louisiana is among the states with the lowest rates for Property taxes in a new WalletHub report.

On the personal finance website, the median property tax payment was divided by the median property price in each state to arrive at the effective property tax rates for the study. WalletHub then used these rates to obtain the dollar amount paid in real estate tax on a home worth $ 217,500. This was the median value for a home in the United States in 2019.

The effective real estate tax rate of 0.55% in Louisiana was the fourth lowest in the United States. The annual tax for a $ 217,500 home was $ 1,187. According to WalletHub, the median home value in Louisiana is $ 163,100 and the tax paid on a mid-price home is $ 890.

WalletHub reported that the average American household spends $ 2,471 on property taxes on their homes every year, according to the US Census Bureau.

“Considering property tax isn’t the most exciting part of the home buying process, but it’s incredibly important and should always be considered,” said Natasha N. Varyani, associate professor of law at New England Law. “It is often overlooked because it is not included in the listing price of real estate and is a commitment that will forever be attached to the property.”

Hawaii (0.28%), Alabama (0.41%), and Colorado (0.51%) had lower effective real estate tax rates than Louisiana. The District of Columbia (0.56%) ranked fifth.

New Jersey (2.49%), Illinois (2.27%), New Hampshire (2.18%), Connecticut (2.14%), and Vermont (1.90%) were the states with the five highest effective real estate tax rates .