IRVINE, Calif. – April 6, 2017 – The effective tax rate for investment homes was lower than the effective tax rate for owner-occupied homes in 34 states, including California, Texas, Ohio, Illinois and New York, according to a study from ATTOM Data Solutions.
States where the effective tax rate for investment homes was higher than the effective tax rate for owner-occupied homes included Florida, Pennsylvania, Michigan, Indiana and Arizona.
The average annual property tax for only owner-occupied single family homes nationwide was $3,658, an effective tax rate of 1.21 percent. That was higher than the average annual property tax of $2,437 and effective tax rate of 1.03 percent on non-owner occupied (investment) homes.
Investment property homeowners owed $51.4 billion in property taxes in 2016, accounting for 19 percent of the total property taxes owed nationwide, while theRead More