Press release
Are Homeowners Overpaying on Property Taxes? Now They Can Find Out on Realtor.com®
According to Realtor.com's new property tax report, more than 40% of properties in the U.S. may be overassessed AUSTIN, Texas, April 29, 2025 /PRNewswire/ --
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[{"type":"text","content":"According to Realtor.com's new property tax report, more than 40% of properties in the U.S. may be overassessed\nAUSTIN, Texas, April 29, 2025 /PRNewswire/ -- Many homeowners could be overpaying their property taxes and not even know it. In fact, 40.5% of properties in the U.S. may be overassessed, according to a new Realtor.com® Property Tax Report. And, today, for the first time on a major real estate platform, homeowners can not only uncover potential savings, they can get the evidence they need to challenge over-assessed property values through a new tax protesting resource on Realtor.com®.\n\n \n \n \n \n \n \n\n \n\"Most homeowners don't realize they can protest their property taxes, and even fewer know how to do it,\" said David Masters, Sr. Director of Product at Realtor.com®. \"We built this resource to simplify what has traditionally been a confusing and intimidating process. By integrating it into the My Home dashboard, we're giving homeowners a clear view into what they might be overpaying, equipping them with solid evidence, and making it easy to take action. Our goal is to help people feel more confident navigating the protest process, and potentially save money.\"\nMillions Could Benefit from Protesting… Especially in These StatesA Realtor.com® analysis found that over 40% of U.S. homes are potentially overassessed to the point that the owner could save $100 or more by protesting. The median potential savings is $539 per year, equivalent to more than 15% of the average property tax bill. Some states offer especially high opportunities for tax relief. Here are the five states with the largest share of properties for which protesting may make financial sense, and the estimated median savings if those homeowners filed a successful protest:\nTop States with Highest Opportunity for Property Tax Relief\nState\nShare of Homes Identified for Protesting\nEstimated Median Savings from Protesting\nTexas\n51.2 %\n$606.66\nSouth Dakota\n48.3 %\n$431.23\nCalifornia*\n47.8 %\n$1,875.12\nIowa\n47.3 %\n$368.91\nIllinois\n46.5 %\n$629.76\nIn states like California, long-standing caps on annual assessment increases have created significant variation between similar homes, which makes it more complicated to collect comparable properties because neighbors might be locked into an old assessment. This can inflate the number of propertie...