PROVIDENCE – Rhode Island landed among the top 10 states for having among the highest effective property tax rates in the nation, according to ATTOM Data Solutions, curator of a national property database for more than 150 million U.S. residential and commercial properties.
ATTOM, which released its list Thursday, said the states with the highest effective property tax rates were New Jersey (2.31 percent), Illinois (2.13 percent); Texas (2.06 percent); New Hampshire (2.03 percent); Vermont (2.02 percent); and Connecticut (2 percent).
Rhode Island was 10th with a rate of 1.64 percent.
States with the lowest effective property tax rates were Hawaii (0.32 percent); Alabama (0.48 percent); Colorado (0.52 percent); Tennessee (0.54 percent); and Delaware (0.56 percent).
ATTOM conducted a property tax analysis for more than 84 million U.S. single-family homes, finding that property taxes levied on single-family homes last year totaled $277.7 billion, an average of $3,296 per home and an effective tax rate of 1.15 percent.
Property tax data collected from county tax assessor offices nationwide at the state, metro and county level was analyzed, along with estimated market values of single-family homes calculated using an automated valuation model. The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.
