We had a discussion on the show about the rising property tax assessments across Iowa...which inevitably means increased property taxes for a population already financially stressed by inflation.
And yes, Iowa is a HIGH property tax state. Check out this article from Investopedia. The lowest property tax state is Hawaii.
According to the Tax Foundation, the 10 states with the lowest property taxes in 2019 were Hawaii (0.31%), Alabama (0.37%), Louisiana (0.51%), Wyoming (0.51%), Colorado (0.52%), South Carolina (0.53%), West Virginia (0.53%), Utah (0.56%), Delaware (0.59%), and Arkansas (0.61%).
Iowa ranks in the top 10 for HIGHEST property tax rate:
According to the Tax Foundation, the 10 states with the highest property taxes in 2019 were New Jersey (2.13%), Illinois (1.97%), New Hampshire (1.89%), Vermont (1.76%), Connecticut (1.73%), Texas (1.60%), Nebraska (1.54%), Wisconsin (1.53%), Ohio (1.52%), and Iowa (1.43%)
Iowa lawmakers typically lower property tax rates by using state tax dollars to buy down rates. But we need a complete system overhaul in order to get out of the top ten ranking.
Listen to today's show, including my conversation with listeners about their property tax assessments: