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U.S. Homeowners and renters are spending more on housing as income levels have dropped and costs have risen.
- As many as 60 percent of all homes are over-assessed and not in line with their actual value.
Source: The National Taxpayers Union
- In a survey of suburbs outside 12 major cities across the country, property taxes increased an average of 23.3 percent between 2000 and 2004.
Source: Runzheimer International as cited in The Wall Street Journal (7/13/04)
- Homeowners' average monthly income, adjusted to constant 2003 dollars, dropped each year from 1999 to 2003, from $4,607 in 1999 to $4,385 in 2003. Renters' average monthly income dropped from $2,475 to $2,388 in the same period.
Source: Harvard Joint Center for Housing Studies
- In 2001, an estimated 29.6 percent of the 106.4 million U.S. households spent 30 percent or more of their total income on housing.
Source: Harvard Joint Center for Housing Studies
- 13.4 percent of U.S. households spent half or more of their income on housing in 2001.
Source: Harvard Joint Center for Housing Studies
- Nationwide, property taxes increased on average more than 10 percent between 2001 and 2003. In some localities, home assessments have gone up between 20 and 50 percent.
Source: Deloitte & Touche LLP's Property Tax Services Group
Courtesy of The American Homeowners Association (AHA)®, August, 2004
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