Owners of low-end, high-end properties pay highest tax rates, study finds

Owners of low-end, high-end properties pay highest tax rates, study finds

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The RealtyTrac study found that the owners of homes valued below $100,000 pay higher property tax rates than the owners of homes valued between $100,000 and $1 million. (RealtyTrac)

Mike Francis | The Oregonian/OregonLiveBy Mike Francis | The Oregonian/OregonLive
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on March 03, 2015 at 9:36 AM, updated March 03, 2015 at 11:12 AM

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A new study of property-tax rates around the country elicits some interesting findings:

  • Effective property-tax rates are higher for owners of houses valued below $100,000 and above $1 million than they are for owners of properties valued in between.
  • The highest rates are paid by owners who have owned between five and 15 years, reflecting bubble-era valuations.
  • New York has the nation’s highest effective property tax rate (3.01 percent) and the highest average property tax in dollars for a single-family home ($15,625).
  • The average property tax paid by the owners of Oregon single-family homes last year was $2,455. The national average was $3,188. The state’s average effective tax rate was 1.18 percent, below the national average of 1.29 percent.

The findings emerge from a new study by RealtyTrac, the real estate data firm. The company said the report was its first national average property tax rates report.

The report also includes breakdowns of property tax rates by county, although some counties, including Clackamas, aren’t included. Multnomah County homeowners paid $4,305 in property taxes last year, on average, for a rate of 1.02 percent. In Washington County, homeowners paid an average of $3,997 with an average rate of 1.08 percent.

— Mike Francis

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