Yahoo Finance 15 Cities Where Inflation Is Causing Property Taxes To Rise the Most
Inflation has been on everyone’s minds these past few years. After the COVID-19 lockdown began in March 2020, millions of Americans became unemployed and inflation went through the roof.
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In fact, inflation reached the highest levels in decades, several years after the onset of the pandemic. USA Facts reported inflation peaked at an incredible 8.9% in June 2022.
Unfortunately, property taxes have not been immune to the effects of inflation. Pent-up demand for housing combined with soaring interest rates have resulted in very high property taxes in some U.S. cities. Home prices nationwide remain stubbornly high, translating into persistently higher property taxes.
If you’re looking to avoid high property taxes, there are 15 high-priced cities across the U.S. that you might want to cross off your list.
Here are 15 cities where inflation is causing property taxes to rise the most, according to data from CoreLogic. The cities are listed in descending order based on the 2023 median property tax.
Miami Beach, FL
Zip code: 33109
County: Miami-Dade
2023 Median Property Tax: $51,051
2023 Median Home Price: $3,062,500
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Atherton, CA
Zip code: 94027
County: San Mateo
2023 Median Property Tax: $46,116
2023 Median Home Price: $3,732,500
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Old Westbury, NY
Zip code: 11568
County: Nassau
2023 Median Property Tax: $34,574
2023 Median Home Price: $1,635,000
Ross, CA
Zip code: 94957
County: Marin
2023 Median Property Tax: $32,220
2023 Median Home Price: $2,950,000
University Park, TX
Zip code: 75225
County: Dallas
2023 Median Property Tax: $31,838
2023 Median Home Price: $1,535,350
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Beverly Hills, CA
Zip code: 90210
County: Los Angeles
2023 Median Property Tax: $30,440
2023 Median Home Price: $2,997,500
Irvington, NY
Zip code: 10533
County: Westchester
2023 Median Property Tax: $29,974
2023 Median Home Price: $1,225,000
Purchase, NY
Zip code: 10577
County: Westchester
2023 Median Property Tax: $29,675
2023 Median Home Price: $2,100,000
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Rye, NY
Zip code: 10580
County: Westchester
2023 Median Property Tax: $29,389
2023 Median Home Price: $1,937,125
Highland Park, TX
Zip code: 75205
County: Dallas
2023 Median Property Tax: $28,827
2023 Median Home Price: $1,730,450
Scarsdale, NY
Zip code: 10583
County: Westchester
2023 Median Property Tax: $28,628
2023 Median Home Price: $1,398,500
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Larchmont, NY
Zip code: 10538
County: Westchester
2023 Median Property Tax: $28,396
2023 Median Home Price: $1,693,750
Mill Neck, NY
Zip code: 11765
County: Nassau
2023 Median Property Tax: $28,088
2023 Median Home Price: $1,849,000
Rancho Santa Fe, CA
Zip code: 92067
County: San Diego
2023 Median Property Tax: $28,026
2023 Median Home Price: $3,665,750
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New York, NY
Zip code: 10013
County: New York
2023 Median Property Tax: $27,943
2023 Median Home Price: $2,862,500
Disclaimer: Any photos are representational and don’t necessarily depict property in the specific city mentioned.
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