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10 States With the Worst Property Taxes

6. Rhode Island

Average Property Taxes as percent of Median Income: 4.9 percent (6th Most)

Average Median Property Taxes Paid on Homes: $3,730 (6th Most)

Unemployment Rate: 11.2 percent (4th Highest)

Average Median Income for Home Owners: $76,193 (8th Highest)

Percent decrease in Median Home value (2006-2009): -8.4 percent (6th Greatest decrease)

Rhode island property values declined a staggering 8.4 percent between 2006 and 2009, the 6th largest decrease in the country. Despite this, homeowners still pay the 6th most in property taxes as a percent of their incomes, amounting to (a median) $3,730 per household. While state residents have the 8th highest median income, there is mounting pressure on the financial stability of residents because of joblessness – Rhode Island’s unemployment rate is 11.2 percent, the fourth-highest in the country. This kind of distress is often a cause for states and municipalities to raise property taxes, even in financially difficult periods for their citizens, because of budget concerns..

(iStock Photo)

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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