Property tax plays an important role in a home purchase deal, it can either make the deal worthwhile or otherwise. There are certain regions in the country with outrageously high property taxes, a good example is Hunterdon County, New Jersey, which is reputed to be among the top three highest in the country.<\/p>\n
According to a real estate market analysis<\/strong><\/a> done and presented by the U.S Census Bureau, between 2011 and 2015, the average yearly property tax bill was about $2,150. However, in areas of the Northeast, e.g. New Jersey, this number increased to $10,000 a year, all within that time frame.<\/p>\n RewardExpert<\/em>, a real estate information expert, has released a ranking of the best U.S. counties for property taxes.<\/a> This is to help guide<\/a> prospective homebuyers, so they can make more informed decisions. The company’s CEO, in a press release, stated that the move was to help prospective homebuyers choose the right place to invest<\/a> which would limit long term-expenses.<\/p>\n Related: What Cities Are Best For Buy And Hold Real Estate?<\/a><\/strong><\/p>\n The report highlighted the top five counties from the 6 major geographical regions of the U.S. The regions included; Northeast, South Central, South Atlantic, Mountain West, Midwest and Pacific West. Below is a review of two counties from each of the six regions;<\/p>\n Contents<\/p> 1. Sussex County, Delaware<\/strong><\/p>\n This is a coastal county located on the Delmarva Peninsula. Its favorable assessment ratio earns the county first place in this region. Only 50% of a property’s market value is levied, thereby bringing the already low 0.75% property tax to a lower 0.37% rate.<\/p>\n 2. Cambria County, Pennsylvania<\/strong><\/p>\n Coming in second place in the Northeast is Cambria County. Its position is due to is low property tax rate. Pennsylvania has a favorable farmstead and homestead property tax exclusion which exempts up to fifty percent of a property’s value from taxation.<\/p>\nNortheast:<\/span><\/h3>\n