As April comes to a close, so does the worry and stress of tax season that was upon us at the beginning of the month. If you feel the pressure of taxes, more specifically property taxes, have you considered moving? Luckily, where I live, the property taxes aren’t too horrible. (I have friends who live in New York who are paying nearly $15,000 a year in property taxes. To me, that’s insane! Granted, their houses are huge and luxurious…but still!)
If you are considering relocating, make sure you do your research on the states with the lowest property taxes.
According to about.com, these are the states with the lowest property taxes (the number is figured by percentage of home value):
- Louisiana – 0.18%
- Hawaii – 0.26%
- Alabama – 0.33%
- Delaware – 0.43%
- West Virginia – 0.49%
- South Carolina – 0.50%
- Arkansas – 0.52%
- Mississippi – 0.52%
- New Mexico – 0.55%
- Wyoming – 0.58%
If you’re living in any of the states, consider yourself lucky! If you’re wondering about the property tax on any other states, here is a great graphic with property tax by state (and other tax information to boot!)
If you’re looking into moving to a new home, here are some property tax calculators (and other home calculators) that can help:
- Property Tax Estimator
- What will your mortgage payment be?
- How much house can I afford?
- What’s my home worth?
- Cost of living calculator
- Will you save by refinancing your mortgage?
Hope this helps some of you out there find the perfect home that you can afford!
