10 Cities with Skyrocketing Property Taxes
Property taxes have a way of creeping up, often faster than homeowners expect. One day, you’re celebrating a great deal on a house, and the next, you’re choking on your escrow statement. It’s no secret that property taxes have been climbing across the country, but some cities are experiencing hikes that make homeowners do a double-take.
If you’re considering a new city or trying to understand why your bill keeps rising, here’s a look at 10 places where property taxes are shooting through the roof.
Newark, New Jersey
Newark’s property tax rates are some of the highest in the country, leaving homeowners wincing at their annual bills. The city’s struggling infrastructure and high demand for public services contribute to the steep costs. Many longtime residents have watched their tax rates balloon, making affordability a serious concern.
Chicago, Illinois
Owning a home in Chicago means bracing for property tax increases almost every year. Budget shortfalls and pension obligations put constant pressure on homeowners. A recent reassessment left some neighborhoods with jaw-dropping increases, forcing many to reconsider their future in the Windy City.
Milwaukee, Wisconsin
Thanks to increased spending on public services and education, Milwaukee homeowners have seen their tax bills rise steadily. While some welcome the investments, others worry about affordability. Property values are climbing, but so are the taxes, leaving some longtime residents wondering if they’ll be priced out.
Houston, Texas
Texas may not have a state income tax, but Houston makes up for it with hefty property tax rates. The city’s rapid growth has led to higher valuations, and without caps on increases, homeowners often feel the pinch. Many residents joke that their property tax bill is the only thing bigger than Texas.
Philadelphia, Pennsylvania
Philadelphia homeowners have been hit with reassessments that feel like a financial gut punch. The city’s ongoing push to increase revenue has led to higher valuations, frustrating many residents. Even those in gentrifying areas struggle to keep up with rising taxes.
Portland, Oregon
School bonds, public works projects, and rising home values have fueled Portland’s property tax hikes. While the city invests heavily in services, many residents worry about the long-term impact on affordability. Some homeowners feel stuck in a financial treadmill, paying more yearly to stay in place.
Nashville, Tennessee
Nashville has been booming, but that growth comes with a cost. In 2020, the city passed a massive 34% property tax hike to cover budget shortfalls. Even after that, property values have continued to rise, keeping taxes on an upward trajectory. Many locals feel like they’re being priced out of their city.
Seattle, Washington
Seattle’s tech boom has brought in wealth, but it’s also sent property values soaring. That means higher assessments and bigger tax bills. Washington doesn’t have a state income tax, so it leans heavily on property taxes like Texas. Many homeowners’ appreciation for home value feels meaningless when they’re struggling to pay taxes.
Minneapolis, Minnesota
Minneapolis has raised property taxes to fund city projects, public safety, and education. With home values rising and local government budgets expanding, many homeowners have seen consistent tax increases year after year. The trend shows no signs of slowing down, making affordability a growing concern.
Atlanta, Georgia
Atlanta’s rapid growth has resulted in rising property values and higher tax assessments. The city has also introduced new tax measures to support infrastructure improvements and public services. While efforts have been made to cap tax increases, many homeowners still pay significantly more than in previous years.
Disclaimer: This list is solely the author’s opinion based on research and publicly available information.
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