Homeowners pay most property taxes in these states - see how California ranked

U.S. existing home sales continued to slide in August as a combination of steep mortgage rates and a worsening supply shortage squeezed would-be homebuyers. 

There were about 1.1 million homes for sale at the end of August, according to new data released Thursday by the National Association of Realtors (NAR)., down 0.9% from the previous month and 14.1% from the same time one year ago.

A new study recently revealed which states in the U.S. pay the most in annual property taxes - and you may be surprised how California ranked. 


According to the analysis by Tax Foundation, New Jersey residents pay the highest in the country - a median of $8,797. 

To calculate median property tax amounts, the Tax Foundation used the median amount of taxes paid for owner-occupied homes between 2017 and 2021, according to U.S. Census American Community Survey data. The data excludes property taxes paid by businesses and renters.

Coming in second was Connecticut ($6,153), then New Hampshire ($6,036), New York ($5,884), and Massachusetts rounding out the top five ($5,091). 

California rounded out the top 10, ranking 9th on the list ($4,279). 

By comparison, the state with the least expensive property taxes was Alabama ($646). 

Property taxes generate 32.2% of state and local revenues in the U.S., according to the study. 

To see the full study, tap or click here.

FOX Business contributed to this report.