Home prices and mortgage rates aren’t the only homeowner expenses going up these days. Property taxes are also on the rise.
Median property taxes in the U.S. rose by an average of 10.4% from 2021 to 2023 (the latest year of available data), according to a recently released LendingTree report. That means the average homeowner needs to fork over about $2,969 a year in property taxes, which is roughly an additional $247 per month.
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