property tax report

Texans are paying the 7th highest property taxes in the U.S., per report

At least we don't have New Jersey's tax rate.

Tax season is here, and Texas homeowners are likely reeling at the thought of a multi-thousand dollar property tax bill. However, Texans can find some consolation in the fact that their property taxes are lower than those in six other U.S. states, according to WalletHub's 2024 property tax report.

The median value of a house in the Lone Star State is $238,000, the report found, which is a $35,400 increase from the state's median home value in 2023. Once a homeowner factors in Texas' effective real estate tax rate of 1.63 percent (compared to 1.74 percent last year), that means the average Texan is paying $3,872 in property taxes.

"Some states charge no property taxes at all, while others charge an arm and a leg," said WalletHub analyst Cassandra Happe. "Americans who are considering moving and want to maximize the amount of money they take home should take into account property tax rates, in addition to other financial factors like the overall cost of living, when deciding on a city."

Texans can be glad they don't live in New Jersey, which WalletHub maintains has the worst property tax rate in the nation for the second year in a row. New Jersey homeowners are paying over $9,300 annually for their homes, based on a median home value of $401,400 and an effective tax rate of 2.33 percent.

Instead, Texas homeowners can pine after Hawaii's property tax rate, as the Aloha State came out on top with the lowest property tax rate in the country for the second consecutive year. Hawaii homeowners have an effective tax rate of 0.27 percent, which on a high median home value of $764,800, amounts to only $2,054 in property taxes.

The states that pay the lowest real estate property taxes are:

No. 1: Hawaii – 0.27 percent
No. 2: Alabama – 0.39 percent
No. 3: Colorado – 0.49 percent
No. 4: Nevada – 0.50 percent
No. 5: South Carolina – 0.53 percent
No. 6: West Virginia, Louisiana, Delaware, Utah (tied) – 0.55 percent
No. 10 – Arizona, Idaho, and District of Columbia (tied) – 0.56 percent

While Texas homeowners feel the sting of their property taxes, at least they can find some comfort in not having to worry about vehicle property taxes. Texas vehicle owners only have to pay a 6.25 percent tax rate on the purchase price of a car with their local tax assessor-collector, but they do not have to pay any annual vehicle property taxes.

Plus, it’s not just Texas – WalletHub determined that 23 other states and Washington, D.C., also do not have vehicle property tax rates. Louisiana has the lowest rate out of the remaining states that do pay vehicle property taxes, at 0.10 percent. The state with the highest vehicle property tax rate is Virginia, at 3.97 percent.

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a barton creek paradise

$15.2 million Austin sanctuary is in the middle of a nature conservancy

The Sanctuary on Barton Creek, Austin home for sale

Photo courtesy of Peyton Skinner

The Sanctuary on Barton Creek sits on 24 acres of untouched Hill Country land.

Living on an expansive estate teeming with untouched nature and vegetation may seem like a priceless dream, but a lavish property in West Austin has a cost in mind: $15.2 million.

Photo courtesy of Peyton Skinner

The Sanctuary on Barton Creek sits on 24 acres of untouched Hill Country land.

The Sanctuary on Barton Creek is a 24-acre estate with an Austin address, although it is located near Bee Cave, a Hill Country suburb. The entrance of the property is double gated, and the area is completely surrounded by a 4,100-acre nature conservancy to provide a peaceful and private escape from the ever-changing landscape of the Texas capital.

The 7,931-square-foot main house contains seven spacious bedrooms, five full bathrooms, and one half bath. The listing, managed by Douglas Elliman sales agents Jeanne Parker and Julie Mack, describes the modernly updated home as a place where "elegance and comfort intertwine seamlessly."

The Sanctuary on Barton Creek, Austin home for sale The estate is a private and peaceful oasis.Photo courtesy of Peyton Skinner

The new Wolf appliances in the state-of-the-art chef's kitchen is a primary example of the sophisticated upgrades that have been completed on the residence. The primary bathroom has also been completely remodeled, where the next owners can be enamored with the privacy of the Hill Country while enjoying luxurious baths in the standalone soaking tub.

Another key feature of this home is its abundance of fireplaces, which can be found in bedrooms, living areas, balconies, and outdoors.

The property is also suited for hosting friends and family with two additional buildings: A fully equipped guest house, and a lofted "executive lodge" that can be used as additional guest quarters, game room, or executive office.

Like the rest of the residences on the estate, the executive lodge has breathtaking views of the Hill Country that can be admired from the spacious balcony or large windows. The space sits above a three-car garage that comes with a pull-through for a RV and a dog washing station.

The Sanctuary on Barton Creek, Austin home for sale The spacious executive lodge also comes with a kitchenette, making it suitable for hosting guests or using as an office.Photo courtesy of Peyton Skinner

All of the residences open up to the backyard pool area where guests can relax under the covered veranda, the patio, or take a dip in the resort-style custom designed pools. There's plenty of outdoor activities to enjoy if exploring the property's untouched 24 acres is a more appealing alternative to sitting by the pool.

"Enjoy honey made from the hives on the property which provide not only an agricultural exemption, but also promote a healthy environment for everyone," the listing says.

Guests are also welcome to go fishing or paddle boarding in Barton Creek, where the estate has more than 200 feet of grassy shoreline access to the water.

The property is zoned for Lake Travis Independent School District, and is situated just minutes away from the Hill Country Galleria in Bee Cave.

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