The effective tax rate for property taxes varies by state and the report found that the states with the highest effective tax rates for single-family homes tended to be located in the Northeast. Read On The Fox Business App New Jersey led the way with an effective tax rate of 1.58% and a median home price of $544,450. It was followed by Vermont, which had a 1.4% effective tax rate, and Connecticut at 1.36%, both with median home prices at roughly $500,000. American homeowners around the country are feeling ...