WalletHub: R.I. 10th highest property taxes in U.S.

Rhode Island has  the 10th highest property taxes in the nation, according to WalletHub. / COURTESY WALLETHUB
Rhode Island has the 10th highest property taxes in the nation, according to WalletHub. / COURTESY WALLETHUB

PROVIDENCE – Rhode Island has some of the highest taxes in the nation, according to WalletHub.
The Ocean State has the 10th highest real estate property taxes and the highest taxes for automobiles.
The personal finance website said Rhode Islanders have a 1.6 percent real estate tax rate, and annual taxes on a $176,000 home (the median home value in the U.S. is $175,700) would amount to $2,829.
The median home value in Rhode Island is $241,200, and annual taxes on a home with that value are $3,883.
As for vehicles, Rhode Island has the highest tax rate in the country at 4.76 percent, and residents pay $1,099 in taxes annually on a $23,000 car. WalletHub said it used the $23,000 amount because it is the value of a 2016 Toyota Camry LE four-door sedan, the top-selling car last year.
Americans looking for cheaper taxes can move to Hawaii, where the effective real estate tax rate is 0.28 percent and annual taxes amount to $489, the least in the nation. And 24 states, including Hawaii as well as the District of Columbia, do not charge vehicle taxes.
The average American household spends $2,127 on real estate property taxes each year, and residents of the 27 states with vehicle property taxes pay another $412, WalletHub said.
WalletHub used U.S. Census Bureau data to come up with its findings.

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