Inflation has been on everyone’s minds these past few years. After the COVID-19 lockdown began in March 2020, millions of Americans became unemployed and inflation went through the roof.
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In fact, inflation reached the highest levels in decades, several years after the onset of the pandemic. USA Facts reported inflation peaked at an incredible 8.9% in June 2022.
Unfortunately, property taxes have not been immune to the effects of inflation. Pent-up demand for housing combined with soaring interest rates have resulted in very high property taxes in some U.S. cities. Home prices nationwide remain stubbornly high, translating into persistently higher property taxes.
If you’re looking to avoid high property taxes, there are 15 high-priced cities across the U.S. that you might want to cross off your list.
Here are 15 cities where inflation is causing property taxes to rise the most, according to data from CoreLogic. The cities are listed in descending order based on the 2023 median property tax.
Miami Beach, FL
- Zip code: 33109
- County: Miami-Dade
- 2023 Median Property Tax: $51,051
- 2023 Median Home Price: $3,062,500
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Atherton, CA
- Zip code: 94027
- County: San Mateo
- 2023 Median Property Tax: $46,116
- 2023 Median Home Price: $3,732,500
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Old Westbury, NY
- Zip code: 11568
- County: Nassau
- 2023 Median Property Tax: $34,574
- 2023 Median Home Price: $1,635,000
Ross, CA
- Zip code: 94957
- County: Marin
- 2023 Median Property Tax: $32,220
- 2023 Median Home Price: $2,950,000
University Park, TX
- Zip code: 75225
- County: Dallas
- 2023 Median Property Tax: $31,838
- 2023 Median Home Price: $1,535,350
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Beverly Hills, CA
- Zip code: 90210
- County: Los Angeles
- 2023 Median Property Tax: $30,440
- 2023 Median Home Price: $2,997,500
Irvington, NY
- Zip code: 10533
- County: Westchester
- 2023 Median Property Tax: $29,974
- 2023 Median Home Price: $1,225,000
Purchase, NY
- Zip code: 10577
- County: Westchester
- 2023 Median Property Tax: $29,675
- 2023 Median Home Price: $2,100,000
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Rye, NY
- Zip code: 10580
- County: Westchester
- 2023 Median Property Tax: $29,389
- 2023 Median Home Price: $1,937,125
Highland Park, TX
- Zip code: 75205
- County: Dallas
- 2023 Median Property Tax: $28,827
- 2023 Median Home Price: $1,730,450
Scarsdale, NY
- Zip code: 10583
- County: Westchester
- 2023 Median Property Tax: $28,628
- 2023 Median Home Price: $1,398,500
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Larchmont, NY
- Zip code: 10538
- County: Westchester
- 2023 Median Property Tax: $28,396
- 2023 Median Home Price: $1,693,750
Mill Neck, NY
- Zip code: 11765
- County: Nassau
- 2023 Median Property Tax: $28,088
- 2023 Median Home Price: $1,849,000
Rancho Santa Fe, CA
- Zip code: 92067
- County: San Diego
- 2023 Median Property Tax: $28,026
- 2023 Median Home Price: $3,665,750
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New York, NY
- Zip code: 10013
- County: New York
- 2023 Median Property Tax: $27,943
- 2023 Median Home Price: $2,862,500
Disclaimer: Any photos are representational and don’t necessarily depict property in the specific city mentioned.
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This article originally appeared on GOBankingRates.com: 15 Cities Where Inflation Is Causing Property Taxes To Rise the Most
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