There are many costs to factor in when buying a home… among them closing costs, HOA fees, maintenance and repairs…and property taxes. Insider broke down a LendingTree list which showed how much homeowners are paying for property taxes in 50 of the nation’s largest metropolitan areas. PennyGem’s Elizabeth Keatinge tells us which major US cities have the lowest median property taxes.
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00:00There are many costs to factor in when buying a home.
00:06Among them, closing costs, HOA fees, maintenance and repairs, and property taxes.
00:12Insider broke down a lending tree list which showed how much homeowners are paying for
00:17property taxes in 50 of the nation's largest metropolitan areas.
00:21These are the top five.
00:22Phoenix, Arizona came in 5th with $1,769 as the average median property taxes paid
00:30on all homes.
00:31Louisville, Kentucky is at $1,765.
00:35Considering Memphis, Tennessee, their homeowners pay $1,672 in property taxes.
00:42New Orleans is just $1,506.
00:45The state of Alabama boasts a 2.5% unemployment rate, 6th in the nation.
00:51Birmingham has all the ingredients for making iron and steel, coal, iron ore, and limestone,
00:56found all within a 10-mile radius.
00:59And this city comes in with the lowest median property taxes of just $995.