In this blog post, we’re excited to unveil the 10 States with the Lowest Property Taxes in 2024.
We’ve ranked these states from 1 to 10, considering factors such as average home values ($), average property tax rate percentage (%), and average annual property tax amount ($).
Given the current average home value in the United States of $362,340 with an average annual tax rate of 1.10% or $3,909.66 per year, it’s important to understand the taxes you might pay on your house.
Keep in mind that while most U.S. homeowners pay property taxes, some properties could be tax exempt for a variety of reasons (e.g., homestead exemptions, 100 percent disabled veteran).
Okay, let’s explore the 10 states offering the lowest property taxes this year!
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Key Findings of Our Research:
- The national average annual property tax rate is 1.10% or $3,909.66 per year
- Hawaii has the lowest property taxes among the 50 U.S. states at 0.28%
- Nevada has the lowest property taxes and no income taxes
- Alabama has the lowest average annual property taxes at $904.72, which is 0.41% of its average home value of $220,663.56
Top 10 States with the Lowest Property Taxes This Year:
| Rank | State | Average Property Tax Rate (%) | Average Home Value ($) | Average Annual Property Tax ($) |
|---|---|---|---|---|
| #1 | Hawaii | 0.28% | $972,884.84 | $2,724.08 |
| #2 | Alabama | 0.41% | $220,663.56 | $904.72 |
| #3 | Colorado | 0.51% | $549,171.97 | $2,800.78 |
| #4 | Nevada | 0.55% | $433,802.11 | $2,385.91 |
| #5 | Louisiana | 0.56% | $201,120.89 | $1,126.28 |
| #6 | South Carolina | 0.56% | $288,530.77 | $1,615.77 |
| #7 | Delaware | 0.58% | $371,609.08 | $2,155.33 |
| #8 | Utah | 0.58% | $519,840.69 | $3,015.08 |
| #9 | West Virginia | 0.59% | $158,495.35 | $935.12 |
| #10 | Wyoming | 0.61% | $316,886.00 | $1,933.00 |
Sources:
What State Has the Lowest Property Taxes?
In 2024, Hawaii has the lowest property tax rate among the 50 U.S. states at 0.28%.
Hawaii’s average property tax rate is 0.85% lower than the national average of 1.10%.
It’s important to note, however, that while the tax rate is low, the actual amount paid in property taxes can still be substantial due to the high property values in Hawaii.
For example, the average home value in Hawaii is $972,884, which is $610,544 higher than the national average of $362,340.
List of States with Cheapest Property Taxes in 2024
Here’s a list of 10 cheap property tax states ranked from lowest to highest:
- Hawaii: 0.28%
- Alabama: 0.41%
- Colorado: 0.51%
- Nevada: 0.55%
- Louisiana: 0.56%
- South Carolina: 0.56%
- Delaware: 0.58%
- Utah: 0.58%
- West Virginia: 0.59%
- Wyoming: 0.61%
List of States with Low Property Tax and No Income Tax
Nevada has the lowest property taxes (0.55%) and no income taxes ($0).
Here’s a list of nine states with low property taxes and no income tax ranked from lowest to highest:
- Nevada: 0.55%
- Wyoming: 0.61%
- Tennessee: 0.66%
- Florida: 0.86%
- Washington: 0.94%
- Alaska: 1.22%
- South Dakota: 1.24%
- Texas: 1.80%
- New Hampshire: 2.18%
About the Author
Brian Reese is a senior advisor and co-owner at District Lending. He is one of the world’s leading experts in veteran benefits, having helped millions of veterans secure their financial future since 2013. Brian is the founder VA Claims Insider, an education-based Coaching & Consulting company whose mission is to educate and empower veterans to get the VA disability benefits they’ve earned for their honorable service. A former active-duty air force officer, Brian deployed to Afghanistan in support of Operation Enduring Freedom. He is a distinguished graduate of management of the United States Air Force Academy and earned his MBA as a National Honor Scholar from the Spears School of Business at Oklahoma State University.
“As a military veteran, I’ve made it my life’s mission to help people live happier and wealthier lives. District Lending brings this mission to life. We believe in integrity, honesty, and transparency, which is why you’ll see our rates right on our website. You’ll find lower rates and zero lending fees, which means you can buy your dream home for less. The savings are passed on to you — the way it should be.”
– Brian Reese, Advisor and Co-Owner, District Lending
