RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

Property Taxes on Single-Family Homes Rise to $328B Nationwide in 2021

Home Agents
By Jordan Grice
April 14, 2022
Reading Time: 3 mins read
Property Taxes on Single-Family Homes Rise to $328B Nationwide in 2021

Surging price tags for single-family homes nationwide were one of the most attention-grabbing highlights of last year’s housing market as a perfect storm of factors resulted in double-digit annual growth by the end of 2021. According to a new report from ATTOM Data Solutions, property taxes for homes in the U.S. also climbed, albeit not as much as price appreciation.

ATTOM released its 2021 property tax analysis for almost 87 million U.S. single-family homes on April 14. The report found that $328 billion in property taxes were levied on single-family homes last year, marking a 1.6% increase from 2020, which tallied $323 billion.

Key findings:

  • Property taxes increased faster than the national average in 74% of markets.
  • Markets with the largest increases in average property taxes last year were Nashville, TN (+27%); Milwaukee, WI (+18.6%); Baltimore, MD (+12.3%); Grand Rapids, MI (+12.3%) and Louisville, KY (+11%).
  • The highest effective property tax rates were in Illinois, New Jersey and Connecticut.
  • Hawaii, Alabama, Utah, Arizona and Nevada posted the lowest effective rates.
  • The average tax was as much as 10 times higher in most expensive versus least expensive states.
  • New Jersey’s average single-family-home tax of $9,476 in 2021 led the nation.
  • Average annual property taxes top $10,000 in 16 counties, including 12 in the New York City metro area.
  • The top five were Kings County, NY; Marin County, CA; Westchester County, NY; Essex County, NJ and Nassau County, NY).

The takeaway:

“It’s hardly a surprise that property taxes increased in 2021, a year when home prices across the country rose by 16%,” said Rick Sharga, executive vice president of market intelligence at ATTOM. “In fact, the real surprise is that the tax increases weren’t higher, which suggests that tax assessments are lagging behind rising property values and will likely continue to go up in 2022.”

Experts at the organization noted that the YoY increase in 2021 marks the second smallest rise over the past five years, dropping from the 5.4% increase seen from 2019 to 2020.

The average tax on single-family homes in the U.S. in 2021 increased at the smallest pace in the five years, climbing 1.8% from $3,719 in 2020 to $3,785 last year.

Despite total taxes climbing in 2021, effective rates declined, which ATTOM attributed to home values surging faster than taxes around the country.

“Prospective homeowners often fail to include property taxes when considering the cost of homeownership,” Sharga added. “But, especially in some of the higher-priced markets across the country, property taxes can add thousands of dollars to annual ownership costs and possibly be the difference between someone being able to afford a home or not. It’s critically important for consumers to factor in taxes, insurance and maintenance when determining whether they’re ready for the financial responsibility of homeownership.”

Jordan Grice is RISMedia’s associate online editor. Email him with your real estate news ideas at jgrice@rismedia.com.

Tags: ATTOMProperty Taxes
ShareTweetShare

Jordan Grice

Jordan Grice is a contributing editor for RISMedia.

Related Posts

Empowering Female Business Owners on Their Path to Aligned Ambition
Agents

Empowering Female Business Owners on Their Path to Aligned Ambition

June 19, 2025
Maximizing the Power of Your MLS
Best Practices

Maximizing the Power of Your MLS

June 19, 2025
HomeServices
Agents

HomeServices of America Names Jimmy Burgess Chief Coaching Officer

June 19, 2025
GSEs
Industry News

National Housing Conference Outlines Goals of GSE Privatization

June 19, 2025
mortgage
Industry News

Mortgage Rates Move Lower

June 19, 2025
Weichert
Agents

Weichert’s 25th Charity Outing Tees Off This August

June 19, 2025
Please login to join discussion
Tip of the Day

Why a Dirty Car Could Cost You the Deal

Think a dirty car doesn’t matter? Think again. Learn just how much first impressions can make or break a deal. See how.

Business Tip of the Day provided by

Recent Posts

  • Empowering Female Business Owners on Their Path to Aligned Ambition
  • Maximizing the Power of Your MLS
  • HomeServices of America Names Jimmy Burgess Chief Coaching Officer

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2025 Newsmakers
    • 2024 Newsmakers
    • 2023 Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2025 Power Broker
    • 2024 Power Broker
    • 2023 Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X