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Property taxes have been rising. Here’s what it means for housing

Housing Wire

In many communities, homeowners and homebuyers have been hit with eye-popping property tax increases. And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments. But opinions differ on how much impact higher taxes are having on local housing and mortgage markets. “I

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U.S. property taxes increased twice as fast in 2023 compared to prior year

Housing Wire

property taxes on single-family homes rose twice as fast in 2023 as they did in 2022, with a total of $363.3 This is according to an analysis conducted by Attom , based on property tax data collected from county tax assessor offices nationwide at the state, metro and county levels. billion levied compared to $339.8

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State and Local Property Tax Revenues Eclipse $700 Billion

Eyes on Housing

NAHB analysis of the Census Bureau’s quarterly tax data shows that $703.5 billion in taxes were paid by property owners in the four quarters ending Q2 2021.[1] 1] Four-quarter property tax revenues have climbed 13.2% in Q2 2020 (the first decrease since 2012). since decreasing 0.2% Read More ›

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Property Taxes Account for Largest Share of State and Local Revenue in 2021

Eyes on Housing

NAHB analysis of the Census Bureau’s quarterly tax data shows that $672.5 billion in taxes were paid by property owners in the four quarters ending Q4 2021 (not seasonally adjusted), a 1.0% 1] Four-quarter property tax revenues declined 0.6% in Q3 2021, the second such decrease since 2012.

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Property Tax Revenues Decline, Share of Total Increases in Q3 2021

Eyes on Housing

NAHB analysis of the Census Bureau’s quarterly tax data shows that $707.6 billion in taxes were paid by property owners in the four quarters ending Q3 2021 (not seasonally adjusted), a 0.5% 1] Four-quarter property tax revenues had climbed 14.3% The decline in Q3 2021 was only the second such decrease since 2012.

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Economic, Political Uncertainty Fuels Record Low Home Turnover

Appraisal Buzz

The analysis examined data from 2012–2024. Listings Remain at Their Lowest Point in More Than 10 Years In the first eight months of 2024, there were fewer homes listed for sale as well—a level not seen since at least 2012, the first year listing data was available.

HOA 398
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ATTOM: Homeownership Became Less Affordable in Q2

Appraisal Buzz

Major homeownership expenses – including mortgage payments, property taxes and insurance – now consume about 35% of the average wage nationwide, according to ATTOM’s U.S. However, the trends this year are particularly challenging for house hunters, more so than at any point since the housing market boom began in 2012.”