Americans Paid Over $500 Billion in Property Taxes in 2016

Being a homeowner can be expensive.

Here’s more from CNSnews.com:

Americans paid a record $540,701,000,000 in property taxes to state and local governments in fiscal 2016, according to the U.S. Census Bureau.

That was up $16,748,620,000—or about 3.2 percent–from $523,952,380,000 in property taxes (in constant 2016 dollars) that state and local governments collected in fiscal 2015.

The prior national record for property taxes was set in fiscal 2009, when they hit $527,850,500,000 in constant 2016 dollars. Fiscal 2016’s record total of $540,701,000,000 was up $12,850,000,000—or about 2.4 percent—from that previous record.

In fiscal 2016, the $540,701,000,000 in property taxes that state and local government collected equaled about $1,673 for every one of the 323,127,513 men, women and children the Census Bureau estimated were residing in the United States as of July 1, 2016.

Most of the property taxes were collected by local governments. Of the $540,701,000,000 in total property taxes collected nationwide in fiscal 2016, according to the Census estimate, $16,040,000,000—or about 3 percent—was collected by state governments.

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