But unlike 27 other states, Florida doesn’t have a tax on vehicles, nor does it have a state income tax. And the weather is pretty good too!!!
WASHINGTON – February 28, 2018 – Each year, the average American household spends $2,197 on real-estate property taxes, plus the residents of 27 states pay an additional $436 for vehicle property taxes.
The tax burden in Florida, however, is much lower. It has no state income tax, for example, and residents pay $0 each year in vehicle property taxes. While that puts a greater burden on property taxes, the property tax burden isn't high or low as the state ranks 27th out of 50 states and the District of Columbia.
In order to determine who pays the most relative to their state, the personal-finance website WalletHub released its 2018 Property Taxes by State report, which compares home and vehicle taxes across the nation and features insights from a panel of experts.
Florida property tax data
- Real-Estate Property Tax Rank: No. 27
- Vehicle Property Tax Rank: No. 1 (tie)
- Real-Estate Tax on Median State Home Value: $1,702 (on a median home value of $166,800).
- Real-Estate Tax on Median U.S. Home Value: $1,885
- Vehicle Property Tax on Best-Selling Car: $0.00
Visit WalletHub's website to read the full report.
© 2018 Florida Realtors®. All rights reserved. Reprinted with permission.
Toby Tobin: REALTOR®, SRES®
I am a REALTOR® licensed by the State of Florida and Seniors Real Estate Specialist, SRES®, with Grand Living Realty, where 'The GoToby Team' helps fellow aged 50+ buyers and sellers achieve improved outcomes in real estate transactions by integrating real estate decisions with other age-related decisions/plans through my broad network of respected service providers; financial, wills, trusts, probate, insurance, healthcare, home services, recreation, lifestyle, estate planning, and adult living facilities.
Take advantage of my "Been there. Done that." experience, typically at no additional cost to you. Call me at (386) 931-7124 or email me at Toby@GoToby.com.