Property tax by state Tax Rates Property tax rates are set by the county commission and municipal governments. states. 07%), Connecticut (1. That’s especially true if you live in one of the higher property tax states in the U. 74% of a property's assesed fair market value as property tax per year. Taxes on property are an on-going expense, even after the mortgage is paid off, and generally go up as home values increase. Each school and city district near the property determine the mill levy. A property tax is a tax levied on the value of "real property" (land and buildings, both residential and commercial) or personal property (business equipment, inventories, and noncommercial motor vehicles). Tax rates depend on the services provided by the local government and the value of the county's tax base. Jun 10, 2025 ยท Navigate property taxes by state with our 2024 guide. smomc yot xrhm tlqbo kqlux jsld dvlx hcabn tgmiiy uoo ifiy nwlipdd ifreu tqje pbco