Property Taxes Increased the Most in San Jose, Kingston, Santa Cruz, Ithaca and Austin, according to ValuePenguin.com Study

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Mar 20, 2019, 10:30 ET

NEW YORK, March 20, 2019 /PRNewswire/ -- ValuePenguin.com today released a new report on where homeowners have seen the sharpest increase in their property taxes. From 2007 to 2017 American homeowners have experienced an average increase of $481 in property taxes paid, and there were 22 metro areas in which the median homeowner paid at least $1,000 more in property taxes in 2017 than in 2007. Interestingly, the metros with the steepest increase in property taxes were not necessarily areas with a sharp increase in median home value.

ValuePenguin analysts compared median real estate taxes paid and home values across the 283 largest metros to determine the places where property taxes have increased the most over the past decade.

Key findings

Homeowners in San Jose-Sunnyvale-Santa Clara, California; Kingston, New York; Santa Cruz-Watsonville, California; Ithaca, New York and Austin-Round Rock, TX saw the largest dollar value increase in property taxes, with the median homeowner paying over $1400 more in taxes over the past decade.
Northeast homeowners, and particularly those in Connecticut, faced some of the largest increases in their effective property tax rate. Across the top 10 metros, there was 0.61 percent increase in the effective property tax rate over the past decade. Residents of Kingston, New York faced the largest increase of 0.82 percent, which led to a $1,573 increase in median real estate taxes per year for homeowners.
Rochester, New York has the highest effective tax rate in the country, at 2.95 percent — the median homeowner here pays $4,259 on real estate taxes. Residents of the Bridgeport-Stamford-Norwalk, Connecticut metro area pay the highest property taxes in absolute terms at $7,436 in 2017.
On the other end of the spectrum, ValuePenguin observed a decrease in median property taxes paid in 13 metros. Kokomo, Indiana; Cape Coral-Fort Myers, Florida; Port. St. Lucie, Florida; Gainesville, Florida and Muncie, Indiana all saw the largest decrease in property taxes for median homeowner, decreasing by over one hundred dollars.

ValuePenguin calculated the effective tax rate in each metropolitan area by comparing a region's median real estate taxes paid and home value. Analysts only used data for owner-occupied houses, and contrasted figures from 2007 and 2017, the most recent year for which data is currently available. Metros were excluded from the analysis if data were missing for one or both years surveyed.

To view the full report, visit: https://www.valuepenguin.com/where-homeowner-property-taxes-increased-most.

50 Cities With the Largest Increase in Property Taxes Paid
Metro Area	Change in Effective Tax Rate	Change in Median Home Value	How Much More is the Median Homeowner Paying?
San Jose-Sunnyvale-Santa Clara, CA	0.15%	$203,300	$2,625
Kingston, NY	0.82%	-$21,200	$1,573
Santa Cruz-Watsonville, CA	0.19%	$18,200	$1,540
Ithaca, NY	0.23%	$45,700	$1,487
Austin-Round Rock, TX	-0.25%	$106,100	$1,475
Bridgeport-Stamford-Norwalk, CT	0.55%	-$73,100	$1,474
Hartford-West Hartford-East Hartford, CT	0.61%	-$7,400	$1,402
Iowa City, IA	0.31%	$54,800	$1,381
Midland, TX	0.05%	$85,700	$1,354
New Haven-Milford, CT	0.77%	-$36,800	$1,308
Corvallis, OR	0.08%	$102,900	$1,297
Manchester-Nashua, NH	0.49%	-$5,000	$1,293
Des Moines-West Des Moines, IA	0.40%	$35,600	$1,269
Albany-Schenectady-Troy, NY	0.31%	$31,800	$1,233
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	0.42%	$10,600	$1,185
Burlington-South Burlington, VT	0.24%	$33,600	$1,166
Norwich-New London, CT	0.64%	-$34,200	$1,111
Lebanon, PA	0.43%	$25,800	$1,057
Ocean City, NJ	0.50%	-$42,400	$1,054
Elmira, NY	0.30%	$31,000	$1,053
Seattle-Tacoma-Bellevue, WA	0.12%	$60,700	$1,042
Springfield, MA	0.36%	$13,400	$1,000
Pittsfield, MA	0.41%	$13,600	$998
Dubuque, IA	0.35%	$36,100	$996
Allentown-Bethlehem-Easton, PA-NJ	0.48%	-$2,000	$992
San Angelo, TX	0.18%	$54,300	$973
Cedar Rapids, IA	0.42%	$24,100	$967
Lancaster, PA	0.31%	$24,000	$962
Napa, CA	0.16%	-$14,900	$962
Binghamton, NY	0.55%	$14,900	$957
Oxnard-Thousand Oaks-Ventura, CA	0.20%	-$48,800	$948
Ames, IA	0.17%	$43,800	$921
Rochester, NY	0.21%	$22,400	$917
Salinas, CA	0.29%	-$141,500	$914
Syracuse, NY	0.15%	$27,500	$896
Odessa, TX	-0.10%	$79,200	$893
Bellingham, WA	0.16%	$50,000	$892
Peoria, IL	0.41%	$15,900	$849
York-Hanover, PA	0.38%	$9,900	$843
Madison, WI	0.15%	$26,200	$829
Washington-Arlington-Alexandria, DC-VA-MD-WV	0.25%	-$33,900	$829
Champaign-Urbana, IL	0.23%	$24,700	$826
Victoria, TX	0.14%	$45,200	$826
Missoula, MT	0.07%	$69,500	$824
Utica-Rome, NY	0.30%	$20,900	$815
Vallejo-Fairfield, CA	0.29%	-$67,800	$813
Boulder, CO	-0.02%	$162,400	$806
Corpus Christi, TX	0.14%	$36,400	$800
Medford, OR	0.29%	-$10,200	$786
Davenport-Moline-Rock Island, IA-IL	0.37%	$17,400	$778

About ValuePenguin.com: ValuePenguin.com, a LendingTree company, is a personal finance website that conducts in-depth research & provides objective analysis to help guide consumers to the best financial decisions. ValuePenguin focuses on value, assessing whether the return of a particular decision is worth the cost or risk of that option, and how this stacks up with the other possible choices they may have. For more information, please visit www.valuepenguin.com.

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SOURCE ValuePenguin