IN THE NEWS:<\/p>\n
No one looks forward to the day their annual property tax bill arrives. But those in affluent Westchester County, a suburban swath of New York that includes areas such as Rye and Armonk, most likely dread it more than most. That’s because homeowners fork over a median $8,404 per year to live there. That’s seven times more than the $1,180 national average, and on a dollar basis, the highest in the nation.<\/p>\n
Across the country, Marin County, Calif., holds a similar distinction. While not as lofty as Westchester’s, the region’s $5,233 median annual property taxes are the highest in the West. Residents of Loudon County, Va., a wealthy suburb of Washington, D.C., pay most in the South, or $4,844 annually. And in the Midwest, those in Lake County, Ill., lay out $6,050 a year to own a home.<\/p>\n
Behind the numbers<\/strong> In ranking each county, we used the 2008 U.S. Census’ American Community Survey, which is conducted every year with a smaller sample of Americans than the decennial census (one home in every 40 receives the ACS, as opposed to the one in six that receives the 10-year census). The survey asked property owners how much they spent per month in property taxes. Researchers then used the median number per county over three years: 2006 through 2008. We separated the data into the four census-defined regions: West, Midwest, Northeast and South, and ranked counties by their percentage above the national average property tax. (Click here for a full list.<\/a>)<\/p>\n Three of the country’s top five highest-taxed counties \u2014 Westchester, Nassau and Rockland \u2014 are in New York state. Homes in these areas are pricey \u2014 in Westchester the median home value is $581,900, three times the national average, according to census numbers \u2014 which naturally helps drive up those bills. But another factor is at play here: Counties in the census-defined Northeast region tend to be carved into an array of towns, villages and municipalities that don’t derive their property taxes from statewide levies. This results in a greater dependence on property taxes for local revenue. Because the region also has highly concentrated pockets of wealth, it takes 19 out of the top 20 spots for highest-taxed counties.<\/p>\n