Article Summary
In 2024, property tax bills for U.S. homeowners increased by an average of 2.7%, reaching $4,172 per household. This rise was smaller than the 4.1% increase seen in 2023, despite a 4.8% year-over-year growth in average home values to $486,456. The effective tax rate dipped slightly to 0.86%, reflecting a rebound in property values after a rare decline in 2023. Regional disparities persist, with the Northeast and Midwest carrying the highest effective tax burdens, while the South and West enjoy lower rates. States like Illinois and New Jersey lead in tax rates, whereas Hawaii and Idaho have the lowest. The report highlights how rising home values and operational costs for local governments contribute to tax increases.
Local Business Types for Broadcasters to Consider Contacting
- Real Estate Agencies: These businesses can promote their expertise in helping homeowners understand property tax implications and navigate the housing market.
- Tax Preparation Services: Highlight their ability to assist homeowners in managing property tax bills and identifying potential deductions.
- Home Appraisal Companies: Advertise their role in providing accurate property valuations, helping homeowners understand their tax assessments.
Three Creative Campaign Ideas for Broadcasters to Consider
- Educate on Tax Management: Develop campaigns that showcase tax preparation services as essential resources for homeowners dealing with rising property tax bills.
- Promote Real Estate Expertise: Create advertising that emphasizes real estate agencies’ ability to guide homeowners through market trends and tax implications.
- Highlight Appraisal Services: Design campaigns that feature home appraisal companies as key players in helping homeowners understand and manage their property tax assessments.
This LBS Ad Intel summary is based on information from this article found on HousingWire.
