Property taxes

Unusual spikes in property taxes and insurance in many areas are causing servicing concerns that mortgage companies may not be used to managing.

The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.

The Supreme Court ruling on tax foreclosures could improve servicer recoveries but it's also giving some jurisdictions pause as they look at how to interpret it.

The top five states have an average effective real-estate tax rate of 2.02%

The rate at which taxes on single-family homes increased was nearly twice that seen the previous year and the largest jump in the last five, according to Attom.

State and local governments have collected $757 billion in revenue over the past 12 months, according to analysis from the National Association of Home Builders.

The market could find out next year how well foreclosure prevention innovations and home equity protect borrowers from growing strains on affordability.

Sen. Robert Peters, D-South Shore and Rep. Debbie Meyers-Martin, D-Matteson will spearhead the endeavor.

Some have moved to appeal their property assessments, with counties in Maryland like Dorchester, Somerset and Garrett seeing the rate of homeowners petitioning home values jump 987%, 827% and 454%, respectively in 2023.

The top five states have an average effective real-estate tax rate of 2.17%.