CT among states with highest real estate property taxes

HARTFORD, CT (WFSB) - Connecticut ranks among the states with the highest real estate property taxes, according to a survey.

The person finance website WalletHub.com on Wednesday released its report of 2022′s Property Taxes by State.

WalletHub said Connecticut had the 4th highest.

Researchers said they compared home and vehicle taxes across the country.

The metrics that contributed to Connecticut’s overall ranking included:

• Real estate property tax rank: 48th
• Vehicle property tax rank: 47th
• Real estate tax on median state home value: $5,898
• Real estate tax on median U.S. home value: $4,658
• Vehicle property tax on best-selling car: $656

Connecticut’s median home value was $275,400 and the annual taxes on a home priced at the median value were $5,898.

The average American household spends $2,471 on property taxes for their homes each year, according to the U.S. Census Bureau, and residents of the 27 states with vehicle property taxes shell out another $445, according to the National Tax Lien Association.

The only states with a higher tax rate than Connecticut were New Hampshire, Illinois and New Jersey.

The top three states with the lowest rates were Hawaii, Alabama an Colorado.

To read WalletHub’s complete report, head to its website here.

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