The national average property tax bill for single-family homes is about $4,427 annually, reflecting an effective tax rate of 0.90% of the home’s value. However, it can vary widely by state. Alabama’s property taxes hover around 0.38%, and New Jersey’s is the highest at 2.23%. Texas ranks up there too, with an effective average property tax rate of roughly 1.31 $ to 1.80 $ per $100 of appraised property value. Rates vary from county to county, but for homeowners over 65, the annual cost can be quite a burden.
Luckily, state officials have made steps to provide older residents with a property tax break. If you’re a Texas homeowner who is 65 or older, here is what you need to know.
