HARTFORD, Conn. — Property owners in Connecticut pay among the highest tax rates in the nation, according to a new survey by WalletHub.
The personal-finance website WalletHub released its 2022’s Property Taxes by State report on Wednesday, which compares home and vehicle taxes across the nation.
According to the report, Connecticut ranks 48th in real estate property tax, with New Hampshire, Illinois and New Jersey recording the tax numbers. For vehicle property tax, the Nutmeg State climbs one spot to 47. Missouri, Rhode Island, Mississippi and Virginia have higher tax rates.
Hawaii, Alabama and Colorado have the lowest real estate property tax, while Lousiana, Michigan and California have the lowest vehicle property tax. There are 24 states that do not have a vehicle property tax.
Tax rates in Connecticut are set by individual towns.
The report also says Connecticut ranks 40th in median home value, at $275,400. The effective real estate tax rate is 2.14% in the state.
Nearby Massachusetts is 1.23% and New York is 1.72%. Rhode Island's rate is 1.63%. New Hampshire, Illinois and New Jersey rank higher than Connecticut.
The report used $217,500 as the median home value in the U.S. as of 2019, the year of the most recent available data.
Doug Stewart is a digital content producer at FOX61 News. He can be reached at email@example.com.
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