RI Highest In Nation For Car Tax & 10th Highest For Real Estate

NEWPORT, RI — On average, Americans pay $2,197 in property taxes on their homes, according to a new report from Wallet Hub, the web-based personal finance experts. That does sound like a steal in Rhode Island where many are paying at least double that sum for a modest single family home, and real estate taxes are the tenth highest in the U.S.

But the municipal tax cash drain doesn't stop there. On top of the real estate taxes, Rhode Islanders have also been paying the highest car tax in the nation. State leaders have promised to phase out the car tax. (Wallet Hub's survey goes through 2016.) But in the meantime, 24 states don't charge their residents any tax at all on their automobiles.

Wallet Hub found the red states pay less property taxes than the blue states overall. New Jersey residents pay the most taxes on their homes, but they don't pay any car taxes.

For the complete report, click here.