States with BEST Property Taxes | States with Low Cost of Living and SAVE you MONEY

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Property taxes are crucial for our modern society because they fund public goods like education, road repairs, first responders and more. But, that doesn't mean people want to get gouged either. Today, we are going to examine states that really put the lowest property tax burdens on their residents. Property taxes affect the real estate demand, rent prices, and the cost of living very profoundly. If the cost to live somewhere is lower this completely changes the dynamics of affordability in a given location.

Each locale taxes your home by the imposed property tax rate times the assessed value of the home. Most places don't require annual appraisals, but will require them occasionally to determine the value more specifically over time. Many wondered if taxes would increase due to government spending for relief in 2020. The answer appears to be yes. As we mentioned property taxes go towards funding positive elements in life, but many who have been hit hard are concerned about any tax increases right now.

Resources are posted in the description if you would like to know more about the information used to make the contents of this video. If you have any questions please let me know in the comment section as well. Enjoy the states that have the worst property tax rates in all of America. Keep in mind if you are a senior or retiree, some places will give you a discount or a tax rate freeze as well. So, make sure to ask around if you think you could qualify.

The links posted below are to 1) the 2021 WalletHub study that gathered the information. 2) The Forbes article listed below shows the results from the 2020 study so you can see the change in time as well. 3) Smart Asset is a tax calculator and I have linked the property tax calculator on there. Be aware it is an average based on the county, rather than specific to the house you may live in or want to buy. So, do your due diligence. 4) For those who are not sure how property taxes work or why we have them NerdWallet breaks down the basics.

1. 2021 WalletHub Property Tax Study: https://wallethub.com/edu/states-with...

2. 2020 Forbes Report: https://www.forbes.com/sites/juliabre...

3. Smart Asset: https://smartasset.com/taxes/property...

4. NerdWallet's Property Tax Definitions: https://www.nerdwallet.com/article/ta...

This video is in both my Taxes and Best Places in the USA playlists linked below:

Best of the USA:    • BEST Places in the USA!!!  
Taxes:    • Taxes  

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