Property taxes pay for municipal services such as fire and police, schools and the salaries of civil servants. How much you pay depends on numerous factors like nearby corporate tax rates and housing values.
The average American pays about $3,500 in property taxes annually, a 4% increase from the year before. New Jersey homeowners pay the highest annual property tax rate in the country at $8,800.
Looking for a break from the taxman? Here is a list of states with the lowest property taxes.
