Louisiana has the ninth lowest median property tax rate—.74%— among all the U.S. states, putting the state well below the national median property tax rate of 1.31%.
That’s according to a new analysis of real estate property taxes released today by CoreLogic, a global property information, analytics and data-enabled service firm.
Louisiana is among 16 states that have a median property tax rate of less than 1%, while seven states—primarily in the northeast with the exception of Texas—have a median property tax rate greater than 2%, the analysis shows.
Illinois has the highest median property tax rate of 2.67%, followed by New York (2.53%); New Hampshire (2.4%); New Jersey (2.37%); and then Texas (2.17%). States with the lowest property taxes are found primarily in Rocky Mountain region and in the Southeast with the exception of Hawaii (.31%), CoreLogic says.
Those states include: South Dakota (.38%); Wyoming (.65%); Colorado (.66%); and Alabama (.54%).
In its analysis, CoreLogic acknowledges that property taxes can vary by state and the total amount can be paid to multiple agencies.
“As a result of the variables, accurate estimates of the amount of property taxes throughout the U.S. is challenging,” the analysis says. “CoreLogic has calculated the median overall property tax rate at the national and state level, taking into consideration all taxing and collection entities in order to provide a complete picture of the cost of owning real property.”
