Rochester #1 for Highest Effective Tax Rate – Buffalo One of Major Markets with the Largest Decreases in Average Property Taxes
ATTOM, a leading curator of land, property, and real estate data, released its 2022 property tax analysis for 87 million U.S. single-family homes, which shows that $339.8 billion in property taxes were levied on single-family homes in 2022, up 3.6 percent from $328 billion in 2021.
The increase was more than double the 1.6 percent growth in 2021, although smaller than the 5.4 percent increase the prior year.
The report also shows that the average tax on single-family homes in the U.S. increased 3 percent in 2022, to $3,901, after rising 1.8 percent the previous year.
Metro areas with the highest effective property tax rates in 2022 were Rochester, NY (2.52 percent); Trenton, NJ (2.24 percent); Rockford, IL (2.07 percent); Peoria, IL (1.96 percent) and Atlantic City, NJ (1.96 percent).