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Ameericans Paid Record $540.7 Billion in Property Taex in 2016

At CNS News this afternoon, Terry Jeffrey reported that "Americans paid a record $540,701,000,000 in property taxes to state and local governments in fiscal 2016, according to the U.S. Census Bureau."

 He continues, explaining:

"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.'"

He also writes, "Most of the property taxes were collected by local governments. Of the $540,701,000,000 in total property taxes collected nationwide in fiscal 2016, according to the Census estimate, $16,040,000,000—or about 3 percent—was collected by state governments."

Several links are embedded in the original, where you can find further details.

Jeffrey includes the following chart showing how per capita property taxes have increased from 1992 to 2016:


Growls readers can find information about real estate property taxes in Arlington County in "Section B -- Revenues" of the Arlington County Manager's proposed FY 2018 budget.


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