If you are planning to buy or construct a house you have to pay estate tax once a year. The property tax rate of different cities in US are different. The list of cities that collect highest tax is
Bridgeport is the one who has highest tax rates. Its rate is higher than average tax rate in rest of country. The estate tax rate is 3.81%. And Median home value is $167,100. It also has the highest property tax reliance among all US cities. Paying high property tax, citizens do not pay sales and income taxes to the local government.
Aurora is one with higher tax rates. It has more estate tax rate than in any other city in the US .it has property reliance tax. It is one of populous city. the value of estate tax is 3.72%.
Newark, New Jersey
Estate tax rate in the city is 3.20 %. It has climb up the ranking due to high tax rates.There is no sales tax on city. Average home value: $235,700.
Detroit has the lowest estate tax rate. The estate tax rate is 3.15%. Average home value is $42,600. It also registers the lowest are home values among all US cities.
Milwaukee is the only one that uses estate tax as its one form of local taxation. Its estate tax rate is 2.67%. this city has 96%of local taxation revenue.The average home value is $114,000.
Des Moines, Iowa
There’s also no city sale tax in Des Moines. This city provides beneficial tax treatment to lower estates. Estate tax rate is 2.30%.
Manchester, New Hampshire
Manchester has drop down the list of estate taxes. The estate tax rate is 2.25%. Government increases 20% local tax.
The estate tax rate is 2.14%and median house income is $282, 800.the city has the drop in estate taxes. There can be increase I property tax in coming few years.
The city provides many tax credits to new home buyers. The city cut down property tax 20%. the estate tax is 2.09%, so that people can have enough money to buy new house.
Columbus has moved up the list the of tax rate. Only on commercial property tax rise by 10%, on industrial property tax rise by 8% and on apartments by 8%. It has the estate tax rate of 2.04%
Omaha, Nebraska and Portland, Maine
Omaha drop down the list in taxes. Its estate tax rate is 2.02%. Portland imposes no local sales tax its estate tax is 1.99%.
The cost of having your house is outside only buying or constructing it. You may have to over view the estate tax rate and where the house will be bought or built, to avoid being in trouble with the local government.