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Granite Staters pay some of the highest taxes on their property and vehicles, according to a report WalletHub released Wednesday.
The report, which looked at tax data from all 50 states and Washington, D.C., found that New Hampshire residents pay $4,738 in property tax for a median-priced home, the third highest in the country. The 10 states that pay the most property taxes are:
(The states in blue don’t pay income taxes.)
Massachusetts ranked 18th, but the high price of housing in the state means Bay Staters end up paying more — $4,679 annually for a home priced at the median value in the state ($381,600), according to the report.
And these states pay the most for a home priced at the state median:
Though rates have held relatively steady in recent years, people are still paying more today, WalletHub analyst Jill Gonzalez said in a statement.
“The real estate property tax rates have been pretty much the same for the past three or four years,” Gonzalez said. “However, the amount people pay in taxes has increased. This is because the median home value has increased by about 6 percent at a national level compared to 2020.” This is a trend Gonzalez said she expects to continue due to inflation and lack of new available homes.
When it comes to vehicle taxes on vehicles, Massachusetts ranks toward the top of the list. It has the eighth-highest tax rate out of the 27 states that have such a tax. Someone who owns a car worth $25,000 (about the cost of a Toyota Camry sedan, the most sold car in 2021, according to the report) would pay $569 a year in taxes here.
These are the states that have the highest vehicle tax rate:
Rank | State | Tax Rate | Annual Taxes on $25k Vehicle |
1 | Virginia | 4.04% | $1,023 |
2 | Mississippi | 3.46% | $875 |
3 | Rhode Island | 3.01% | $762 |
4 | Missouri | 2.60% | $659 |
5 | Connecticut | 2.59% | $656 |
6 | South Carolina | 2.50% | $631 |
7 | Maine | 2.40% | $607 |
8 | Massachusetts | 2.25% | $569 |
9 | Kansas | 1.93% | $489 |
10 | New Hampshire | 1.80% | $455 |
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