posted 14 years ago
I strongly suggest that anyone looking for land to purchase take local property taxes into consideration. You can find lists online that tell you what the property tax burdens are by state, and give state rankings. I have a list here that I printed off about four years ago, so things may have changed a bit, but in general probably not a whole lot. From the lowest -- Louisiana, with a median property tax of $175/year -- to the highest -- New Jersey, with a median tax of $5,352/year -- there is a big difference. If you are going to try to make a living off your place, that difference could make or break you. Or, if you lose your job, that difference could make or break whether or not you can keep your land and home.
In order from lowest taxed to highest, followed by median tax:
50. Louisiana $175
49. Alabama $302
48. West Virginia $389
47. Mississippi $416
46. Arkansas $459
45. Oklahoma $635
44. South Carolina $642
43. Kentucky $693
42. New Mexico $707
41. Wyoming $737
40. Tennessee $794
39. Delaware $806
38. Hawaii $924
37. North Carolina $966
36. Missouri $1,012
35. Georgia $1,050
34. Indiana $1,079
33. Utah $1,130
32. Arizona $1,133
31. Idaho $1,226
30. Colorado $1,297
29. Montana $1,309
28. North Dakota $1,326
27. Kansas $1,337
26. Iowa $1,355
25. South Dakota $1,404
24. Virginia $1,418
23. Nevada $1,445
22. Florida $1,495
21. Ohio $1,598
20. Minnesota $1,618
19. Maine $1,742
18. Michigan $1,846
17. Nebraska $1,889
16. Oregon $1,910
15. Texas $1,926
14. Pennsylvania $1,937
13. Maryland $2,159
12. Alaska (except areas outside Boroughs, which have no property tax) $2,241
11. Washington $2,250
10. California $2,278
9. Wisconsin $2,777
8. Vermont $2,835
7. Illinois $2,904
6. Massachusetts $2,974
5. Rhode Island $3,071
4. New York $3,076
3. Connecticut $3,865
2. New Hampshire (see why I don't want to move there?!?) $3,920
1. New Jersey $5,352
Obviously, some states have higher property 'values' than others do, and if you bought something on the low end your taxes might be lower than in a lower-ranked state in a more valuable property, but this will give you a fair idea of averages. Also, property taxes will vary within a state from town to town and county to county, so you do need to check locally before buying.
I had been looking at Maine in the hopes of being fairly close to my daughters and grandchildren in New Hampshire, but found out some things about Maine's business and sales taxes that made me really not want to live there. Now I'm looking at West Virginia, Kentucky, and Tennessee -- farther from my family than I wanted to be, but better climate and MUCH lower property taxes.
Kathleen