If you thought your property tax bill was higher than usual last year, it probably was. The average tax on single-family homes rose 4.1% in 2023 to $4,062 – higher than the 3% increase recorded in 2022, according to ATTOM's just released analysis of 2023 property taxes. However, 52.9% of metro areas studied saw average property taxes rise by more than 4.1%. And homeowners in 21 of 1,502 counties had it much worse, with average property taxes exceeding $10,000.

Across the nation, local governments saw higher property tax collections last year, with a 6.9% spike to $363.3 billion — a rate almost double the 3.6% increase to $339.8 billion in 2022. That increase was the largest of the past five years, based on a study of 89.4 million single-family homes.

"The latest average tax resulted in an effective tax rate nationwide of 0.87% — up slightly from 0.83% in 2022, marking the first increase since 2017," ATTOM noted. "The effective tax rate shows the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area."

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