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Location Matters: A Look at Property Taxes by State

affordability escrows home buying home ownership property taxes relocation Oct 22, 2023

Where you live is one of the most important decisions you can make in life.

Do you agree? πŸ€”

I think so, and this is why I focus so much on the differences between states and cities in my research.

Once you get some context between locations, you can make more information decisions on where you should put down roots and grow.

This week, we'll look at property taxes across the country to see which states are more and less affordable. πŸ’°

Here we go!


Location, Location, Location

After looking at insurance last week, I wanted to examine the other half of escrows: property taxes.

Property taxes can be measured in a couple ways.The tax rate (1) is the % charged by the government and it is used with property values to determine the total tax bill (2). 

So, if you live where the tax rate is high, but the property values are low, you can still have an affordable tax bill (in theory). Alabama has both a lower tax rate and low property values so it comes away with the lowest tax bill.

The opposite is true as well. Take a look at Hawaii. It's got the lowest tax rate, but the tax bills are higher because the property values are much more there.

New Jersey is worst all around with the highest tax rate and tax bill. 😑

Don't forget to look at the other taxes to complete the picture. Florida gets a nice boost because we have 0% income taxes. 🀩


Presentations on Presentations

It's been a busy few weeks as I'm in my presentation season. πŸ“Š

Each month I do quarterly deep dives on our local market through my MarketPulse 360.

I also have monthly presentations for my coaching members to get more frequent updates and lessons on using all this material in their business.

Above is a picture from our first in-person event for my members as we did our live coaching at Atlantic Theaters in Atlantic Beach. πŸ“½οΈ

We had around 40 people in the room and covered some significant updates to the market and what to expect over the next few months.

Specifically, we reviewed:

  • Are we in a growing market?
  • The market stats and trends for Jacksonville in September
  • A breakdown of last month's closings to see what's selling and where
  • Analyzed the active listings to get a feel for current inventory
  • Discussed seasonal trends, where we are relative to "normal activity," and what to expect through the end of the year
  • Opportunities associated with using this information
  • Creating a "by the numbers" page for our buyer and seller presentations

Thank you to all that came out and contributed to the great conversation! πŸ™

If you want to be a part of our community, you can jump on the waitlist for enrollment here.


Finding Opportunity 

As I start off all my presentations, we must keep our opportunity goggles on. πŸ€“

When we look for opportunities, we find opportunities.

One major trend still taking place in Florida is relocation to the area. 

If you aren't building out a portion of your business to focus on generating relocation business, you're missing out big time.

βœ… Use the state map to help highlight the differences between states and how much it matters where you choose to live.

βœ… Talk about our Homestead Exemption and how your taxes are limited in how much they can rise each year.

βœ… Give people a look at what it's like to live here and compare our market to the other major metros to give context.

All of this will be very valuable and help people decide which area they should move to. It's also good for SEO and getting people to your website through the search engines.

You can do it! I believe in you! πŸš€


Whenever you're ready, there are 3 ways I can help you:

  1. 🎯 Market Insiders Coaching Membership: Join an exclusive group of Realtors focused on becoming experts in our local Jacksonville market. This membership gives you access to monthly live coaching from yours truly, a member-only community for private updates and discussions, and additional resources to address clients questions and supercharge your business.

  2. πŸ‘©‍πŸ’» How to Use Market Stats in Your Business: Accelerate your business growth by learning how to use data. This course will help you more easily understand the market, improve your client presentations, and increase your conversion rate with clients. No finance degree required as I lay everything out in very simple terms.

    Rated 9.84 out of 10 for value to their business by 100+ Realtors.

  3. πŸ“Š Schedule a live presentation: Want to learn in person? I offer the MarketPulse 360 presentation that connects all the dots (national to local) so you get a comprehensive breakdown of today's market. It's 2 hours of beautiful charts designed to give you all the major trends you need to know about and address the most common questions in the market. You'll walk out feeling more confident, with resources to use in your business, and a level above the rest of the Realtors who are wandering around blindly.

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