Property taxes in America have reached a historic milestone, but it’s bad news for homeowners across the country.

In 2024, no state had an average residential property tax bill under $1,000, according to NAHB Economics team analysis of the 2024 American Community Survey. The fact that Alabama was still below that threshold in 2023 is an indication that prices have surged nationwide since then.

Why It Matters

Property taxes routinely keep many Americans from becoming homeowners, as the extra costs can add to a mortgage and price out many completely.

The median home price for single-family homes was $462,206 in American in May 2025, according to Redfin data. But the thousands of dollars plus in property taxes on those mortgages mean many Americans would rather rent than buy a home a

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