Are Property Taxes Higher In South Dakota Than Our Neighbors?
No one likes to pay taxes. Any taxes. But we all do.
Ben Franklin had it right: In this world nothing can be certain except death and taxes.
Well, lets not talk about the former (too depressing), but the latter (OK, depressing maybe but not as much).
There's all forms of taxes. When it's tax time so you know that. But specifically, property taxes. How bad are they?
Well of course it depends where you live. If you're fortunate enough to call the Sunshine Sate of South Dakota home, not too bad.
According to WalletHub our Effective Real Estate Tax Rate is 35th in the nation. What does that mean? Lets just say...I'm not sure.
You see, hard as it is to believe, I'm not a finance whiz. Oh, I know pretty much what a Grain Belt Longneck will run me at my favorite local watering hole, but when you have these guys at WalletHub talking about Effective Real Estate Tax Rate, State Median Home Value, Annual Taxes On Home Priced at State Median Value and on and on....ugh.
From what I can gather, in South Dakota, on a $185,000 home we pay $2,446 in taxes. Looking at their chart, Hawaii on the same value home would pay $501. Wow, a lot less.
But of course you can have a heck of a nice home in South Dakota for $185 Grand. In Hawaii, you get a walk-in-closet. So maybe its all relative.
Looks like Minnesota is at $2,155, Iowa at $2,762 and Nebraska $3,371. The highest state would be New Jersey.
You can check out all the charts, numbers and fun here. In the meantime, keep up on all your taxes.
Oh and meet me down at the local watering hole. I can calculate for you exactly what a perfectly chilled Grain Belt Longneck will cost. And the pretzels are free.
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