To determine the best places to own a home and pay fewer taxes, GOBankingRates analyzed median home values, state and local income tax rates, sales and use tax rates, median real estate taxes paid, and effective property tax rates in more than 200 cities.
In the best spots, the combination of low taxes and affordable homes that are still increasing in value make owning property more desirable compared to some of the country's pricier locales.
It may come as no surprise that three cities in Florida snagged spots in the top 10: The Sunshine State benefits from a low cost of living and favorable property taxes, as well as no personal income tax at all. Alternatively, Jersey City was the only metro area in New Jersey to crack the top of the list, thanks to appreciating home values and relatively affordable prices, even though property taxes were above average.
"If you buy there, it's an excellent investment," said Andrew DePietro, GoBankingRates' lead researcher and data analyst.Effective property tax rate: 0.513%North Las Vegas, NevadaState income tax rate: 9.3%Effective property tax rate: 1.518%State income tax rate: 0%Effective property tax rate: 0.555%State income tax rate: 4.95%At the bottom of the ranking, Rochester, New York, boasts a whopping 3.
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