New Jersey has the highest property tax rate in the U.S. at 2.23%, with residents paying an average of $9,541 annually on a median home value of $427,600. Illinois and Connecticut follow with rates of 2.07% and 1.92%, respectively. Hawaii boasts the lowest rate at 0.27%. Property tax amounts vary by home price and municipality, making New Jersey notably expensive for homeowners. When considering relocation, potential movers should factor in property tax rates alongside the overall cost of living.
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