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News Link • TAXES: Local

$540,701,000,000: U.S. Property Taxes Hit Record in 2016

• cnsnews.com By Terence P. Jeffrey

That was up $16,748,620,000—or about 3.2 percent--from $523,952,380,000 in property taxes (in constant 2016 dollars) that state and local governments collected in fiscal 2015.

The prior national record for property taxes was set in fiscal 2009, when they hit $527,850,500,000 in constant 2016 dollars. Fiscal 2016's record total of $540,701,000,000 was up $12,850,000,000—or about 2.4 percent—from that previous record.

The nationwide state and local property tax receipts for fiscal 2016 were released last week with the Census Bureau's "Quarterly Summary of State and Local Government Tax Revenue for 2016: Q4."

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