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Information on Immigration, Investment, Education and Residence
Release of Residential Property Tax for Immigrants to the United States Researchers Benjamin Harris and Brian Moore from the Center for Tax Policy (TPC) published the Residential Property Taxes in the United States, based on data from the American Community Survey in 2007-2011. The study found that New York and New Jersey had the heaviest tax burden on residential property, while Alabama and Louisiana had the lightest tax burden.
Most counties levy a residential property tax of about $1,000 per year for each homeowner, accounting for less than 1% of the value of the property.
The Tax Policy Center (TPC) is a research institute established by the American Urban Institute and the Brookings Institution.
Headquartered in Washington, TPC is dedicated to conducting independent analysis of current and long-term tax issues and communicating its findings to the public and policy makers.
An Overview of American Real Estate Tax In the United States, almost all local governments levy taxes on real estate, including land, commercial real estate and family housing.
The burden of real estate tax in the United States is mainly determined by two factors:
the real estate tax rate and the tax base.
The tax base is also determined by two factors:
the assessed value of the property and the assessment ratio.
Among them, the assessment rate refers to the proportion of the real estate assessment value that needs to be taxeD.The appraisal value of real estate will be based on the purchase value of the real estate, or will change with the change of its market value.
For homeowners, the burden of residential property tax is huge, accounting for one fourth of the total housing cost during the median home ownership duration in the United States.
The government has enacted a series of laws to alleviate the burden of the real estate tax.
For real estate tax, economists'opinions show obvious polarization.
Many economists believe that real estate tax is a "good tax" that can provide financial support for the maintenance and improvement of local facilities.
Other economists believe that the imposition of real estate tax will distort economic investment decisions to a certain extent.
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