We all spend exorbitant amount of taxes. Everything from income taxes to sales taxes, from property taxes to vehicle registration taxes, we all spend enormous sums of our hard earned money to pay the government to do whatever it is they do.
But just how much taxes do Americans pay? That’s what WalletHub wanted to find out.
The personal finance social network released a new study Tuesday that looked at states with the highest real estate taxes and states with the highest vehicle property taxes. It turns out that the average American household spends $2,127 on real estate property taxes each year, and residents in 27 states dole out an additional $412.
Due to astronomical levels of debt and stagnant wages, it turns out that about $11.8 billion in property taxes do not get paid. Is it any surprise? We’re broke; we’re tapped out.
The state with the highest real estate taxes is New Jersey ($4,029), while the state with the lowest property taxes is Hawaii ($489). The state with the highest vehicle property taxes is Rhode Island ($1,099) and the state with the lowest is Montana ($86).
Here are the states with the highest real estate taxes:
41. New York
42. Rhode Island
43. Vermont
44. Michigan
45. Nebraska
46. Connecticut
47. Texas
48. Wisconsin
49. New Hampshire
50. Illinois
51. New Jersey
Another interest statistic in relation to real estate taxes: Democratic states have 39 percent higher property taxes (average $2,280) versus Republican states (average $1,642).
Here are the states with the highest vehicle property taxes:
T-41. New Hampshire
T-41. Wyoming
43. Kansas
44. Massachusetts
45. South Carolina
46. Maine
47. Missouri
48. Connecticut
49. Mississippi
50. Virginia
51. Rhode Island
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