New Jersey tops nation's highest property tax list at $9,413 while southern states offer relief

Property taxes are one of the most significant ongoing expenses homeowners face. The taxes are meant to fund local government services such as infrastructure, schools, and other essential systems.The specific fee is calculated based on a home’s value and its location, though the amount can vary annually based on local tax laws and the home’s value. Typically, if someone's home is more valuable, they will owe more in property taxes. Home values are also re-evaluated as often as every year, which means property tax bills can change. The issue facing many homeowners is that property taxes are gro