Mon. Jun 5th, 2023
While the State of Missouri is in the middle of the pack, nationwide, when it comes to real estate property taxes, Missouri is among the states collecting the MOST for vehicle property taxes.
That’s according to a study by Wallethub.com identifying the Show-Me State as number-29 with an average $1,676 paid in each year by those owning real estate.
New Jersey has the highest tax rate while Hawaii has the lowest tax rate.
When it comes to vehicle property tax rates, Missouri is out done only by Mississippi and Virginia for the highest rates while the Wallethub.com study identifies 25 states as not having vehicle property tax rates.
Here’s the report:
Each year, the average American household spends $2,690 on real-estate property taxes plus another $444 for residents of the 26 states with vehicle property taxes. With such high costs, it’s no surprise that more than $14 billion in property taxes go unpaid each year, according to the National Tax Lien Association.
In order to determine who pays the most relative to their state, the personal-finance website WalletHub today released its 2023’s Property Taxes by State report, as well as expert commentary. The report compares home and vehicle taxes across the nation and features insights from a panel of experts.
|States with Highest Real-Estate Taxes||States with Highest Vehicle Property Taxes|
|T-44. New York||44. Kansas|
|T-44. Wisconsin||45. Connecticut|
|46. Texas||46. Massachusetts|
|47. Vermont||47. Maine|
|48. New Hampshire||T-48. South Carolina|
|49. Connecticut||T-48. Missouri|
|50. Illinois||50. Mississippi|
|51. New Jersey||51. Virginia|
To view the full report and your state’s rank, please visit: