Effective Commercial Property Tax Rate
Effective Property Tax Rate on a Commercial Property
What does this mean?
This rate is the tax bill on official buildings and similar properties as a percent of a property’s market value.
Why does this matter?
Property taxes are one part of the package of taxes and public services that affects competitiveness and quality of life. High commercial property taxes can be a disincentive for business location in a given area. However, a comparatively lower tax rate, coupled with a state that is attracting residents, may be an attractive option for relocation of entrepreneurial/start-up activity and commercial businesses.
North Carolina Ranking
23 / 51
Source: Lincoln Institute of Land Policy
Region Comparison
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Effective Commercial Property Tax Rate
Effective Commercial Property Tax Rate
State | 2014-01 | 2015-01 | 2016-01 | 2017-01 | 2018-01 | 2019-01 | 2020-01 |
---|---|---|---|---|---|---|---|
Alabama | 1.39 | 1.45 | 1.45 | 1.45 | 1.15 | 0.67 | 1.45 |
Alaska | 1.40 | 1.38 | 1.41 | 1.46 | 1.58 | 1.20 | 1.55 |
Arizona | 2.64 | 2.64 | 2.65 | 2.60 | 2.26 | 1.25 | 2.71 |
Arkansas | 1.44 | 1.44 | 1.44 | 1.40 | 1.40 | 1.12 | 1.40 |
California | 1.22 | 1.19 | 1.19 | 1.19 | 0.96 | 1.16 | 1.20 |
Colorado | 2.40 | 2.40 | 2.25 | 2.31 | 1.77 | 0.56 | 2.07 |
Connecticut | 3.42 | 3.59 | 3.81 | 3.81 | 1.88 | 3.22 | 3.67 |
Delaware | 1.10 | 1.04 | 1.11 | 1.07 | 0.86 | 1.39 | 1.50 |
District of Columbia | 2.00 | 1.94 | 1.95 | 1.98 | 1.86 | 0.73 | 1.93 |
Florida | 1.83 | 1.77 | 1.75 | 1.72 | 1.35 | 1.25 | 1.65 |
Georgia | 1.74 | 1.67 | 1.66 | 1.59 | 1.41 | 0.88 | 1.58 |
Hawaii | 0.91 | 0.91 | 0.91 | 0.91 | 0.60 | 0.31 | 1.06 |
Idaho | 1.68 | 1.68 | 1.55 | 1.55 | 1.17 | 0.80 | 1.13 |
Illinois | 3.86 | 3.60 | 3.86 | 3.78 | 2.06 | 1.52 | 4.03 |
Indiana | 3.11 | 2.84 | 2.85 | 2.46 | 2.10 | 1.16 | 2.86 |
Iowa | 3.69 | 3.29 | 3.27 | 3.25 | 2.11 | 2.25 | 3.64 |
Kansas | 2.74 | 2.83 | 2.72 | 2.68 | 1.48 | 1.18 | 2.57 |
Kentucky | 1.39 | 1.40 | 1.33 | 1.26 | 0.72 | 1.21 | 1.36 |
Louisiana | 2.20 | 2.11 | 2.15 | 2.05 | 2.11 | 1.04 | 2.06 |
Maine | 2.00 | 2.06 | 2.11 | 2.06 | 1.11 | 1.83 | 1.88 |
Maryland | 2.46 | 2.66 | 2.68 | 2.78 | 1.35 | 2.22 | 2.84 |
Massachusetts | 2.88 | 2.24 | 1.92 | 1.82 | 1.07 | 0.49 | 1.89 |
Michigan | 4.22 | 4.13 | 4.09 | 4.24 | 2.72 | 2.93 | 4.16 |
Minnesota | 3.57 | 3.37 | 3.11 | 2.95 | 1.63 | 1.37 | 2.88 |
Mississippi | 2.68 | 2.69 | 2.77 | 2.84 | 2.08 | 1.37 | 2.72 |
Missouri | 2.76 | 2.75 | 2.76 | 2.77 | 2.28 | 1.38 | 2.87 |
Montana | 1.32 | 1.17 | 1.11 | 1.22 | 1.25 | 0.90 | 1.18 |
Nebraska | 2.06 | 2.10 | 2.11 | 2.09 | 1.67 | 2.02 | 2.05 |
Nevada | 1.12 | 1.12 | 1.14 | 1.14 | 0.91 | 1.11 | 1.12 |
New Hampshire | 2.03 | 1.97 | 1.87 | 1.88 | 1.06 | 2.03 | 1.63 |
New Jersey | 2.41 | 2.54 | 2.67 | 1.49 | 1.48 | 3.03 | 2.67 |
New Mexico | 1.51 | 1.49 | 1.49 | 3.90 | 1.20 | 1.23 | 1.43 |
New York | 3.97 | 3.96 | 3.93 | 2.64 | 0.58 | 1.18 | 1.43 |
North Carolina | 1.22 | 1.18 | 1.15 | 1.08 | 0.88 | 0.95 | 0.91 |
North Dakota | 1.16 | 1.14 | 1.00 | 0.96 | 0.58 | 1.19 | 1.08 |
Ohio | 2.16 | 1.62 | 1.75 | 2.15 | 1.28 | 1.94 | 1.89 |
Oklahoma | 1.31 | 1.32 | 1.30 | 1.30 | 1.40 | 1.24 | 1.36 |
Oregon | 2.32 | 2.29 | 2.29 | 2.42 | 1.96 | 2.46 | 2.48 |
Pennsylvania | 2.03 | 2.03 | 2.11 | 2.13 | 1.27 | 1.00 | 2.02 |
Rhode Island | 3.65 | 3.71 | 3.71 | 3.68 | 2.03 | 1.29 | 3.62 |
South Carolina | 3.06 | 3.22 | 3.24 | 1.77 | 2.34 | 0.52 | 1.77 |
South Dakota | 1.52 | 1.60 | 1.41 | 1.45 | 0.81 | 1.54 | 1.41 |
Tennessee | 2.98 | 2.84 | 2.84 | 2.83 | 1.10 | 0.67 | 1.40 |
Texas | 2.47 | 2.44 | 2.36 | 2.36 | 2.39 | 1.71 | 2.24 |
Utah | 1.54 | 1.54 | 1.46 | 1.39 | 1.45 | 0.71 | 1.18 |
Vermont | 2.31 | 2.38 | 2.33 | 2.35 | 1.04 | 2.31 | 2.65 |
Virginia | 0.98 | 1.03 | 1.05 | 0.96 | 1.66 | 0.91 | 1.04 |
Washington | 0.95 | 0.88 | 0.89 | 0.85 | 0.49 | 0.76 | 0.83 |
West Virginia | 1.56 | 1.61 | 1.65 | 1.61 | 0.73 | 0.83 | 1.86 |
Wisconsin | 2.94 | 2.87 | 2.86 | 2.76 | 1.67 | 2.41 | 2.58 |
Wyoming | 0.69 | 0.64 | 0.66 | 0.61 | 1.50 | 0.65 | 0.67 |
U.S. Average | 2.16 | 2.11 | 2.10 | 2.06 | 1.45 | 1.35 | 1.98 |