Overview
- ATTOM on Thursday released its 2025 review reporting $396.8 billion levied on 89.6 million single-family homes, up 3.7% from 2024.
- The average home value slipped 1.7% to $494,231 as the average bill rose 3% to $4,427, lifting the national effective rate to 0.9%.
- Tax burdens were heaviest in the Northeast and Midwest, led by Illinois at 1.84% and New Jersey at 1.58%, while Hawaii had the lowest rate at 0.33%.
- Local swings were sharp, with 50% of 221 metros posting increases above the 3% national pace and big jumps in Memphis up 34% and Baltimore up 27%.
- Disparities were stark at the local level, with New Jersey’s average bill at $10,499 versus West Virginia’s $1,081 and 26 counties topping $10,000, led by Westchester County, NY at $18,386.