$
TruePITI
Benchmark Rates
30-Year Fixed6.710%|15-Year Fixed6.040%|30-Year FHA6.460%|30-Year VA6.210%|5/1 ARM6.210%|7/1 ARM6.340%|30-Year Jumbo7.210%|15-Year Jumbo6.710%|CA Avg6.650%|TX Avg6.700%|FL Avg6.700%|NY Avg6.680%|PA Avg6.690%|IL Avg6.730%|OH Avg6.750%|GA Avg6.680%|NC Avg6.670%|MI Avg6.740%|AZ Avg6.700%|WA Avg6.640%|30-Year Fixed6.710%|15-Year Fixed6.040%|30-Year FHA6.460%|30-Year VA6.210%|5/1 ARM6.210%|7/1 ARM6.340%|30-Year Jumbo7.210%|15-Year Jumbo6.710%|CA Avg6.650%|TX Avg6.700%|FL Avg6.700%|NY Avg6.680%|PA Avg6.690%|IL Avg6.730%|OH Avg6.750%|GA Avg6.680%|NC Avg6.670%|MI Avg6.740%|AZ Avg6.700%|WA Avg6.640%|
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Property tax

The property-tax spread across states

Research question

How much does effective property tax vary by state, and what does that spread cost on the same $400,000 home per year?

Dataset

  • Effective property-tax rate (%) for all 50 states — TruePITI market dataset (ATTOM 2026 + Census basis).
  • A constant $400,000 home value to isolate the tax rate.

Methodology

  1. Effective rate = total property tax ÷ home value, as published per state.
  2. Rank states by effective rate; annual tax on $400k = 400,000 × rate.
  3. Compare the highest and lowest states to express the spread as a ratio.

Calculations

State (highest 10)Effective rateAnnual tax on $400k
New Jersey2.49%$9,960
Illinois2.27%$9,080
New Hampshire2.18%$8,720
Connecticut2.14%$8,560
Vermont1.9%$7,600
Texas1.8%$7,200
Wisconsin1.76%$7,040
Nebraska1.73%$6,920
New York1.72%$6,880
Rhode Island1.63%$6,520

Effective rates reflect statewide averages; county-level rates differ and shift with reassessment cycles.

Effective property-tax rate — highest 10 states

Annual tax on a $400,000 home = rate × value.

New Jersey2.49%
Illinois2.27%
New Hampshire2.18%
Connecticut2.14%
Vermont1.9%
Texas1.8%
Wisconsin1.76%
Nebraska1.73%
New York1.72%
Rhode Island1.63%

Findings

  • The highest-rate state (New Jersey, 2.49%) charges about 8.9× the annual tax of the lowest-rate state (Hawaii, 0.28%) on the same $400,000 home — roughly $8,840 per year.
  • Property tax is a recurring, appreciating-rate cost — unlike a one-time closing cost, it compounds with home value.
  • Because the escrow is monthly, the tax spread shows up directly in the PITI payment.

Limitations

  • State averages hide large intra-state county variation.
  • Homestead exemptions, assessment caps and appeal outcomes change the effective rate for individual owners.
  • Rates are dated; reassessments move them independently of the home value.

Sources

Last updated & change history

Last updated: 2026-09-21

  • 2026-09-21 — Initial study.