One of the often unforeseen challenges facing new home-buyers can be the steep rise in property taxes compared with what longtime homeowners are paying. This is due to assessment limits which limits the speed at which a home’s taxable value can rise while owner remains.
The top metro areas where new home-buyers are paying at least twice what current owners are charged (percentage included).
- Miami – 3.17%
- New York City – 2.61%
- Tampa – 2.49%
- Jacksonville – 2.21%
- Charleston – 2.17%
- Los Angeles – 2.14%
- San Diego – 2.14%
- Long Beach – 2.10%
- Detroit – 2.10%
- Oakland – 2.08%
- San Jose – 2.03%