According to a WalletHub.com study, Oklahoma is in the middle of the states (No. 25) when it comes to property taxes.
The average American household spends $2,471 on property taxes for their homes each year, according to the U.S. Census Bureau. Considering these figures and the massive amount of debt in America, it should come as no surprise that more than $14 billion in property taxes go unpaid each year, according to the National Tax Lien Association.
“And though property taxes might appear to be a non-issue for the 35% of renter households, that couldn’t be further from the truth,” the report states. “We all pay property taxes, whether directly or indirectly, as they impact the rent we pay as well as the finances of state and local governments.”
Americans began 2020 owing more than $1 trillion in credit card debt after a $76.7 billion net increase during 2019. Consumers quickly changed course, however, posting the biggest first-quarter credit card debt paydown ever, at $60 billion. This was followed by new records for Q2 and Q3, when consumers payed down $58.8 billion more in credit card debt. Although first quarter paydowns are normal, Q2 and Q3 2020 mark the first times in more than 30 years that credit card debt has dropped from April through September.
The $0.7 billion in credit card debt repaid during Q3 2020 is the first paydown for any third quarter in the last 35 years.
Outstanding credit card debt dropped by just 0.9% during Q3, compared to the previous quarter.
Credit card debt rose by $76.7 billion during 2019, and WalletHub now projects a decrease of about $89 billion in 2020. The average household’s credit card balance is $7,849.
$217,500 is the median home value in the United States as of 2019
Annual Taxes on a $217,500 value home
Lowest real estate property taxes
| State | Effective rate | ||
|---|---|---|---|
| 1 | Hawaii | .28% | $606 |
| 2 | Alabama | .41% | $895 |
| 3 | Colorado | .51% | $1,113 |
| 4 | Louisiana | .55% | $1,187 |
| 5 | District of Columbia | .56% | $1,221 |
| 6 | South Carolina | .57% | $1,238 |
| 6 | Delaware | .57% | $1,240 |
| 8 | West Virginia | .58% | $1,269 |
| 9 | Nevada | .6% | $1,310 |
| 10 | Wyoming | .61% | $1,319 |
| 11 | Arkansas | .62% | $1,358 |
| 12 | Utah | .63% | $1,362 |
| 13 | Arizona | .66% | $1,446 |
| 14 | Idaho | .69% | $1,492 |
| 15 | Tennessee | .71% | $1,548 |
| 16 | California | .76% | $1,644 |
| 17 | New Mexico | $1,740 | $1,740 |
| 18 | Mississippi | .81% | $1,751 |
| 19 | Virginia | .82% | $1,779 |
| 20 | Montana | .84% | $1,818 |
| 20 | North Carolina | .84% | $1,833 |
| 22 | Indiana | .85% | $1,853 |
| 23 | Kentucky | .86% | $1,866 |
| 24 | Florida | .89% | $1,934 |
| 25 | Oklahoma | .9% | $1,952 |
| 26 | Georgia | .92% | $2,006 |
| 27 | Missouri | .97% | $2,111 |
| 28 | Oregon | .97% | $2,116 |
| 29 | Washington | .98% | $2,134 |
| 30 | North Dakota | .98% | $2,138 |
| 31 | Maryland | 1.09% | $2,370 |
| 32 | Minnesota | 1.12% | $2,429 |
| 33 | Alaska | 1.19% | $2,599 |
| 34 | Massachusetts | 1.23% | $2,667 |
| 35 | South Dakota | 1.31% | $2,857 |
| 36 | Maine | 1.36% | $2,953 |
| 37 | Kansas | 1.41% | $3,060 |
| 38 | Michigan | 1.54% | $3,343 |
| 39 | Ohio | 1.56% | $3,390 |
| 40 | Iowa | 1.57% | $3,407 |
| 41 | Pennsylvania | 1.58% | $3,442 |
| 42 | Rhode Island | 1.64% | $3,548 |
| 43 | New York | 1.72% | $3,749 |
| 44 | Nebraska | 1.73% | $3,754 |
| 45 | Texas | 1.8% | $3,907 |
| 46 | Wisconsin | 1.85% | $4,027 |
| 47 | Vermont | 1.9% | $4,135 |
| 48 | Connecticut | 2.14% | $4,658 |
| 49 | New Hampshire | 2.18% | $4,738 |
| 50 | Illinois | 2.27% | $4,942 |
| 51 | New Jersey | 2.49% | $5,419 |