Property taxes are a percentage of assessed home value, and move with the house's market price, with a 16 percent increase.
In addition to home prices, property tax rates are also rising. This is a double whammy for homeowners with appreciating home prices and increasing property tax rates, leading to higher annual property taxes.
The state-to-state property taxes vary, with property taxes increasing in each of the 50 largest metro areas.
These are the 10 metro regions that saw the biggest spike in property taxes.
Home prices in the Sunshine State saw their biggest decline in more than a decade.
The median price for all home types in Florida fell 1.7 percent in March from the same time last year, according to Redfin, a national real estate brokerage. That’s a small number with big implications.
Bloomberg reported on the median home price data.
