WalletHub, a personal finance website, has just released its 2018 Property Taxes by State report, comparing home and vehicle taxes across the country.
Every year, the average American household spends $2,197 on real-estate property taxes, and 27 states charge an additional $436 for vehicle property taxes.
Florida, however, has a much lower tax burden, with no state income tax and residents don't have to pay any vehicle property taxes. The property tax rate in Florida is neither on the high or low end of the list, ranking in the middle at 27th out of 50 states and the District of Columbia.
This is good news for Florida residents- more money in your pockets.
To see the report by WalletHub which includes insight from finance experts, click here.