Which state has the lowest effective property tax rates?
It’s not Colorado. But, if you guessed Colorado you’re close!
Hawaii has the lowest effective rate at .27%.
Colorado is ranked 3rd at .53%.
New Jersey is the highest at 2.47%
So, Colorado’s property tax rate is one fifth of New Jersey.
It’s also one third of Michigan and Ohio, and one half of Oregon and Washington.
The out of state clients we work with are usually pleasantly surprised that our local property tax rates are so much lower compared to where they are moving from.
It’s another benefit of owning real estate here.
At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously. Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.