Currently Reading

Landlords, Homeowners to See Further Property Tax Increases This Year


Landlords, Homeowners to See Further Property Tax Increases This Year

August 26, 2021
Photo: Monster Ztudio |

The pandemic-fueled housing boom pushed up home values, prices, and property taxes, but the tax increases are expected to shock homeowners and landlords this year. says average property taxes paid increased 4% last year, but experts predict higher jumps this year. Many communities lost revenue last year and look to property taxes for needed funds. Areas in Alaska, Colorado, Georgia, California, and Washington have already seen the highest tax increases. Anchorage, AK paid 26.2% more in property taxes on average last year. The tax hikes will affect elderly residents, the unemployed, renters, and those struggling to balance inflation most.

Even tenants will pay the price, as at least a portion of those tax increases are expected to be passed down to them in the form of higher rents.

Average property taxes are lowest in the South, with Alabama coming in cheapest at an average of $841 a year paid in 2020, according to ATTOM. The highest are in the Northeast, California, and Texas, with New Jersey topping the list with a whopping average tax bill of $9,196. Taxes can be even higher in particular areas, such as Westchester County, where annual property taxes can easily top $24,000.

“Many of our clients who are older and living off of Social Security or pensions are beginning to wonder whether or not they’ll be able to remain in their homes as their property tax bills continue to rise,” says Frank DiZenzo, chief revenue officer of realAppeal.

However, higher taxes are not expected to hit all parts of the country equally—or all at the same time. Property taxes usually get collected by local jurisdictions (e.g., counties, cities, towns, school districts, or special districts like water authorities) to help pay for a myriad of services, from the fire department to police to the library. These jurisdictions follow different schedules for when they reassess home values and update tax bills.

Moreover, many states and counties offer ways to ease that tax burden, whether through property tax exemptions or relief programs for veterans, disabled people, or senior citizens.

Read More

Related Stories


Apartments and Condos Lift Housing Starts

Single-family starts were down 2.8% for August while overall multifamily starts was up 21%.


Steady Housing Market Expected as Foreclosure Protections Expire

Few experts polled anticipate foreclosed homes will be significantly adding to housing inventory.


How Much Longer Will the Housing Market Be Out of Whack?

How much longer will first-time home shoppers lose their bids to investors and the wealthy who offer more than the listing price and pay in cash?


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.