Michigan Has One Of The Highest Real-Estate Taxes In The Country
We already have the highest rate of automobile insurance in the country and now we are learning that we also have one of the highest effective real-estate tax rates in the country.
WalletHub.com put together a survey of Real-Estate Tax Rate by State and Michigan ranks as the 11th highest effective real-estate tax rate in the country. Most of the states with high tax rates seem to be in the Northeast or the Midwest, with the exception of Texas, who has such a high rate to make up for their lack of a sales tax.
Here Are The Highest Effective Real-Estate Tax Rate
- New Jersey (2.44%)
- Illinois (2.31%)
- New Hampshire (2.20%)
- Connecticut (2.07%)
- Wisconsin (1.94%)
- Texas (1.83%)
- Vermont (1.83%)
- Nebraska (1.80%)
- New York (1.68%)
- Rhode Island (1.66%)
- Michigan (1.64%)
Below is the effective real-estate tax rate ranking by state, or you can head over to WalletHub.com to see the complete list.
If you are wondering how WalletHub gathered their data and conducted their analysis, you can read their full methodology here.