If you live in an area with low property taxes, you probably haven’t had to devote much energy toward budgeting them into your yearly finances.
But if you’re planning to move during retirement, paying attention to property taxes in the area you’re eyeing is one of the smartest homeowner money moves you can make.
Here are some cities where Redfin says property taxes are high enough to merit consideration as you start budgeting for your next move.
Steal this billionaire wealth-building technique
The ultra-rich have also been investing in art from big names like Picasso and Bansky for centuries. And it's for a good reason: Contemporary art prices have outpaced the S&P 500 by 136% over the last 27 years.
A new company called Masterworks is now allowing everyday investors to get in on this type of previously-exclusive investment. You can buy a small slice of $1-$30 million paintings from iconic artists, all without needing any art expertise.
If you have at least $10k to invest and are ready to explore diversifying beyond stocks and bonds,see what Masterworks has on offer. (Hurry, they often sell out!)
Indianapolis, Indiana
Between 2019 and 2024, median property taxes in Indianapolis went up a whopping 66.7%. Today, they are $205 per month.
However, it’s worth noting that $205 is still lower than the nationwide monthly median of $250 per month.
Want to learn how to build wealth like the 1%? Sign up for Worthy to get ideas and advice delivered to your inbox.
Atlanta, Georgia
Atlanta’s median property tax payment rose 65.8% in five years, to $239. As is the case with most cities on this list, increasing home values helps explain the dramatic rise in taxes.
The median home payment for Atlanta homeowners also went up 106.8% during that same time period.
Jacksonville, Florida
Florida is a major hub for retirees, but the sunny weather comes with a price.
In Jacksonville, median property taxes are 59.6% higher now than they were in 2019, bringing the median monthly property tax payment to $228.
Get a free stock valued between $5 to $200
Secret: You don't need thousands of dollars to buy thousand-dollar stocks or create a diverse portfolio.
Robinhood offers a method of investing called “fractional shares.” On its own, one share of a single stock could cost a lot of money, making it difficult to diversify. Robinhood allows you to buy pieces of stock instead, so you have the option to build a diverse portfolio quickly.
Let’s say you want to invest $250, as an example.
With that amount, you could build a relatively diverse portfolio with an investment of $50 in a big tech stock, $50 in a retail stock, $50 in an energy stock, $50 in a manufacturing stock, and $50 in a bank.1 <p>This content is for informational purposes only, you should not construe any such information as legal, tax, investment, financial, or other advice. </p> <p>To get stock reward, new customers need to sign up, get approved, and link their bank account. Stock rewards shares cannot be sold until 3 trading days after the reward is granted and the cash value of the stock rewards may not be withdrawn for 30 days after the reward is claimed. Stock rewards not claimed within 60 days may expire. See full terms and conditions at <a href="https://robinhood.com/us/en/support/articles/open-account-pick-your-stock/">rbnhd.co/freestock</a>.</p> <p>Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.</p> Robinhood Gold is offered through Robinhood Financial LLC and is a membership offering premium services available for a fee.</p>
Even better news? Add a Robinhood Gold membership, and you’ll get access to 4.25% (as of 11/15/24) APY2 <p>Annual Percentage Yield. Rate valid as of April 12, 2024. To earn interest, a cash balance is needed. If you have a margin balance, there is no cash balance to earn interest. Interest rates for cash sweep and margin investing can change at any time. Fees may reduce interest earnings.</p> on your uninvested cash3 <p>Interest is earned on uninvested cash swept from your brokerage account to partner banks. Partner banks pay interest on your swept cash, minus any fees paid to Robinhood. As of Nov 15, 2023, the Annual Percentage Yield (APY) that you will receive is 1.5%, or 5% for Gold customers. The APY might change at any time at the partner banks' or Robinhood's discretion. Additionally, any fees Robinhood receives may vary and are subject to change. Neither Robinhood Financial LLC nor any of its affiliates are banks.</p> <p>All investments involve risk and loss of principal is possible.</p> <p>Robinhood Financial LLC (member SIPC), is a registered broker dealer.</p> and the ability to buy and sell stocks 24 hours a day, 5 days a week.
Open and fund a Robinhood account and earn up to $200 in stock
Tampa, Florida
Jacksonville isn’t the only Florida city where property taxes have skyrocketed in recent years. In Tampa, the median monthly property tax payment shot up 56.7% between 2019 and 2024.
Homeowners pay a median amount of $250 per month to own property on this part of the Gulf Coast.
Miami, Florida
Miami’s median property tax increase of 48.1% is lower than that of its Florida neighbors to the north, Jacksonville and Tampa.
However, Miami’s higher cost of living means the median monthly housing payment is $4,401, with a median monthly property tax payment of $367.
Trending Stories
Fort Lauderdale, Florida
You can move a bit north from Miami to Fort Lauderdale, but you won’t escape rising property tax rates.
Median property taxes in Fort Lauderdale have increased by 48% since 2019 and are now $426 a month.
Orlando, Florida
Living near theme parks such as Disney World and Universal Studios comes at a stiff price.
Median property taxes in Orlando have increased by 46.7% since 2019, to $262 a month.
Fort Worth, Texas
Everything is bigger in Texas: Unfortunately, that also includes property tax growth rates in Fort Worth.
As more residents have flocked to Texas and home values have risen, property taxes have followed suit. They are now $508 a month in Fort Worth, up 44.1% since 2019.
San Antonio, Texas
San Antonio is another city with a Texas-sized increase in property tax rates. Median property taxes have jumped 43.4% since 2019.
That means residents are now paying a median of $449 each month.
Earn up to a $300 bonus and grow your money with up to 3.80% APY
This powerful combination checking + savings account from SoFi® allows you to earn up to a $300 bonus with direct deposit and grow your money with up to 3.80% APY.4 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) <b>OR</b> $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at <a href="sofi.com/banking#1">sofi.com/banking#1</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p> <p>SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a></p>
This is one of the top accounts we’ve seen, and offers like this can be rare. You work hard, and now it’s time to make your money work for you — with SoFi, you can grow your money with hardly any effort!
SoFi has no account or overdraft fees5 <p>Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.<br></p> and additional FDIC insurance up to $2 million on deposits is available through a seamless network of participating banks.6 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> 7 <p><b>SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/terms">SoFi.com/banking/fdic/terms</a> See list of participating banks at <a href="http://sofi.com/banking/fdic/receivingbanks">SoFi.com/banking/fdic/receivingbanks</a></b></p> Plus, you can receive your paycheck up to 2 days early.8 <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
How to earn up to $300: Sign up and make a direct deposit within the first 25 calendar days of the promotional period, then collect a $300 cash bonus with a direct deposit of $5,000 or more.
SoFi is a Member, FDIC. 7 <p><b>SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/terms">SoFi.com/banking/fdic/terms</a> See list of participating banks at <a href="http://sofi.com/banking/fdic/receivingbanks">SoFi.com/banking/fdic/receivingbanks</a></b></p>
Open your SoFi account and set up direct deposit
Dallas, Texas
Fort Worth’s neighbor Dallas also has seen a surge in property tax rates. Such costs in “Big D” have risen 40.8% since 2019 and now sit at $573 a month.
The totally median monthly housing payment also has shot up 75.7% during that period.
Seattle, Washington
Housing values have been elevated in Seattle for a long time, but things have gotten worse in recent years. The city's residents have seen median monthly housing payments jump 92.3% since 2019.
Over the same span, median property taxes are up 38.6%, to $545 a month.
West Palm Beach, Florida
As folks continue to move in droves to Florida, property values increase — and property taxes follow suit.
Since 2019, property taxes have surged by 37.8% in West Palm Beach, to $419 a month.
Austin, Texas
In recent years, Austin has been one of the hottest housing markets in the country. Unfortunately, that popularity has translated to higher property tax costs.
Property taxes are quite high at $697 a month, up 37.6% since 2019.
Denver, Colorado
Since 2019, Denver’s property taxes have increased by a median of 34.3% and now sit at $249 a month.
Colorado’s relatively high home values mean Denver residents are shelling out a median of $4,345 in monthly housing payments.
Oakland, California
Property taxes in Oakland have shot 33.9% higher since 2019. Residents now pay a median of $608 each month.
California’s high housing prices mean Oakland residents have a wallet-busting median monthly housing payment of $7,701.
Riverside, California
Further south in Riverside, property taxes are up 33.8% since 2019.They are now $338 a month.
Living in Riverside is a lot more affordable than trying to make ends meet in Oakland, however. The median monthly housing payment here is $4,022.
Kansas City, Missouri
While Kansas City’s median property taxes have gone up 33% since 2019, the state’s low tax burden means the median property tax payment is still a relatively affordable $243 a month.
Bottom line
When weighing new places to live, you can lower your financial stress by researching property taxes ahead of time.
However, remember that property taxes aren’t the only — or even the most important — financial factor to consider when moving.
Budget for moving costs, homeowners insurance, and aging-in-place improvements to ensure your next home is a good financial fit.
Masterworks Benefits
- Invest in art like a millionaire for a relatively low cost
- Art investments have outperformed the S&P 500 by over 131% for 26 years
- Purchase shares of artwork by top artists
- Hedge against inflation and diversify your portfolio
Paid Non-Client Promotion
FinanceBuzz doesn’t invest its money with this provider, but they are our referral partner. We get paid by them only if you click to them from our website and take a qualifying action (for example, opening an account.)
Subscribe Today
Want extra-cash moves to come right to you?
Stop browsing endlessly. Get proven ways to earn pocket money, help cover rent, and crush your debt — sent to your inbox daily.