How Property Tax Rates Affect Your Monthly Mortgage Payment

The Hidden Cost

When shopping for homes, buyers focus on the listing price and interest rate. But property tax is often the biggest variable in monthly PITI. The difference between a 0.3% rate (Hawaii) and 2.2% rate (New Jersey) on a $400K home is $633/month.

Highest Property Tax States

1. New Jersey: 2.23%
2. Illinois: 2.07%
3. New Hampshire: 1.86%
4. Vermont: 1.73%
5. Texas: 1.68%

Lowest Property Tax States

1. Hawaii: 0.27%
2. Alabama: 0.40%
3. Colorado: 0.51%
4. Louisiana: 0.53%
5. Delaware: 0.53%

See how property tax affects your payment in every state: use our calculator.