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Top 5 areas where property taxes are exploding

The post-COVID-19 pandemic real estate market has seen many changes, the most glaring of which is the rising cost of homeownership.

According to the latest Harvard University’s Joint Center for Housing Studies State of the Nation’s Housing report, released in 2025, house prices have increased by almost 30% nationwide. In addition to the rapid increase in property prices, which rose 60% in some markets from 2019 to 2025, average property tax rates also increased across almost all states.

However, some states and counties have historically been more expensive to invest in due to their high property taxes. The areas surrounding New York and many California counties typically rank among the highest for property taxes.

As a result, an investor seeking a property within a specific price range must factor in tax costs across two markets. For example, a $400,000 property in Illinois will be taxed at 1.83%, which is $7,320, while in Alabama, it’ll be taxed at 0.36%, which is $1,440.

Below, Property Reach takes a closer look at some of the areas investors will want to steer clear of due to their rapidly or significantly increasing average property tax rates.

Top 5 Areas Where Property Taxes Are Exploding

We combined data from the Joint Center for Housing Studies with additional research insights to track down five regions of the U.S. where property tax rates are booming. Here’s what we found:

1. Passaic County, NJ — $10,001 (2.28%)

The highest figure on the list, surpassing $10,000, is in Passaic County, at a whopping 2.28% tax rate. As a matter of fact, New Jersey has the highest number of counties with median tax figures over the $10,000 threshold, thanks to their proximity to New York.

However, rates vary across counties, with Bergen County having the most expensive properties, charging $10,000 at a 1.69% tax rate. The others are as follows:

• Union County — 2.05%
• Hunterdon County — 2.01%
• Somerset County — 1.91%
• Morris County — 1.79%
• Monmouth County — 1.77%
• Bergen County — 1.69%

2. Putnam County, NY — $10,001 (2.23%)

The Big Apple made it on this list, to no one’s surprise. Since New York is more of a rental-forward market with many commercial properties, it follows right behind New Jersey in the number of counties with median taxes over $10,000. Those counties include:

• Suffolk County — 1.85%
• Rockland County — 1.77%
• Westchester County — 1.57%
• Nassau County — 1.51%
• New York County — 0.90%

3. Falls Church City, VA — $10,001 (0.99%)

Why is a random city in Virginia on this list? Well, according to the Fall Church Pulse, the city’s mantra is “growth should pay for growth,” which stipulates that all the new development in the city is paid for through taxes, landing it right on this list.

4. Marin County, CA — $10,001 (0.72%)

Even though California has relatively low property tax rates, it has some of the most expensive properties in the country. At just 0.72%, Marin County concludes the list of counties surpassing $10,000 in median property taxes, thanks to its many luxury properties.

5. Santa Clara County, CA — $9,766 (0.71%)

The heart of Silicon Valley, Santa Clara County, inches very close to the $10,000 mark at $9,766 in median property taxes. This luxury market is also not so surprisingly one of the country’s most active, with properties selling in record times, or a median of 56 days after listing.

2025 Property Tax Rates by State

If you’re curious about your state’s tax rates, scroll through this table and find out.

Property Reach

Information provided by the Tax Foundation at taxfoundation.org.

What Factors Affect Property Tax Rates?

Final property tax figures are not only dependent on property price, but they’re also directly affected by local legislation, which determines tax rates and how they’re calculated.

Most people don’t know that the rates above apply to the assessed value of the property, which doesn’t always equal the market value. Some states consider the assessed price 100% of the market price of the property, while others value it as a percentage that can be as low as 10% of the market value for single-family homes (these include Louisiana and Mississippi, FYI).

You can dispute the assessed value of your property if you think it’s too high, and most local governments will look into it and adjust.

Just keep in mind that these taxes are how states pay for public amenities like schools, hospitals, and roads. So unless the state has another source of income, like tourism or oil production, property taxes can get pretty high.

Final Thoughts

After reviewing the highest property tax rates in the country, it’s clear that knowing where the right market is for a property investment is crucial in determining its feasibility.

Consider using a property search tool to compare units, locations, and property conditions among different counties in the same state to find out where to get the best mileage out of your investment dollar. It’ll most likely be away from New York and Silicon Valley, though.

This story was produced by Property Reach and reviewed and distributed by Stacker.

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The culture illusion at work: When leaders overestimate morale and workers pay the price

When it comes to company culture, the view is better from the top. Many leaders say their teams are engaged and motivated, but workers tell a different story, filled with frustration, fading trust and poor communication.

The difference in how executives and workers see culture reflects broader gaps in how they view professional growth, belonging and the future, according to a new global survey from Kelly.

The culture confidence gap

Executives may spend their days focused on strategy, but many are not spending enough time talking to employees. While leaders believe engagement and communication are strong, workers report lower satisfaction and weaker connection after years of workplace change.

The difference is clear in how both groups rate overall satisfaction. More than a third of global executives (36%) say their satisfaction at work has improved in the last year. In contrast, only 25% of workers report improvements.

The gap grows when leaders speak for their teams. Forty-two percent of global executives say employee satisfaction is rising across their organization, but only 27% of workers say the same.

Kelly

The divide is even wider in science, technology, engineering and mathematics (STEM) fields, where leaders and workers report sharply different experiences.

Seventy percent of executives at STEM companies say employee satisfaction is up compared to 55% of workers. Fewer than 1 in 10 executives report a decline, while nearly twice as many workers say morale has fallen.

Experts say perception gaps often stem from how information flows inside organizations. Executives tend to rely on filtered reporting, engagement dashboards and leadership feedback loops that smooth over early warning signs. Hybrid and remote work environments can widen that distance, limiting informal touchpoints where leaders once picked up on morale shifts in real time. Over time, leadership teams risk operating inside an echo chamber, hearing more from peers than from employees navigating daily pressures.

Lack of development and satisfaction harms retention

That culture gap could lead to bigger problems down the road. When leaders assume satisfaction is rising, they overlook early signs of disengagement, and that blind spot erodes trust.
 

Employees are more likely to trust leadership when training leads to visible career advancement, not just promises. Yet many workers say those opportunities are not happening fast enough, a disconnect that makes talent more likely to leave.

Declining morale also weakens workers’ loyalty toward their employers. Many executives believe their teams will stay put, but workers tell a different story. While 40% of global executives say loyalty has improved, only 30% of global workers agree, and more than a quarter (27%) say it’s getting worse.

Trust goes both ways. Leaders who invest in development expect those new skills to benefit the organization. But according to the report, many workers say they would use those new skills to find a new job if there is no clear path to advancement.

Millennials (75%) and Gen Zers (71%) are the most likely to quit after gaining new skills if they see no clear path forward, followed by 53% of Gen Xers and 42% of Boomers. Together, those four generations make up 85% of the global workforce, a reminder that training without opportunities for growth is not the same as retention.

Kelly

Workplace culture gaps quickly turn into business risk, especially in knowledge-heavy and fast-moving sectors. When employees feel disconnected or see no path forward, they leave. Each departure drains institutional knowledge, stalls projects and increases pressure on remaining teams. The disruption is greatest in regulated or highly technical roles where replacements take longer to train. Organizations that misread morale often do not recognize the damage until retention drops and rebuilding becomes far more costly.

Belonging could be the missing link

Many leaders believe they have met diversity and inclusion goals, but employees feel unheard. When company leaders fail to act on cultural promises, trust erodes.

Perception gaps extend into whether employees believe inclusion efforts are real. More than half of global workers (57%) say they want their employer to support diversity, equity and inclusion (DEI) efforts. Most executives say those efforts are still happening, but 20% say they have removed DEI language from marketing materials. That may, in part, explain the different views on which initiatives exist. For example, 82% of STEM executives say their organization has programs to recruit, develop and retain women, but only 59% of STEM workers say these programs exist.

Culture fades without communication

The picture of a company’s future is painted by its leaders, but not everyone sees the same image.

The report shows another gap emerging around confidence in what lies ahead. Nearly 8 in 10 executives (78%) say the business outlook looks strong, while many employees remain uncertain. While leaders focus on growth, workers brace for setbacks. In industries undergoing rapid transformation, that disconnect can make change initiatives harder to implement and weaken alignment across teams.

The divide is sharpest in STEM fields, where workers are far more likely than executives to expect conditions to worsen over the coming years (14% compared to 7%).

Communication bridges optimism and trust. Executives often see disruption as an opportunity, while workers see risk. When leaders are transparent about strategy and change, employees can better connect their roles to the company’s goals and share that same confidence in the future.

Trust is not given; it must be earned.

The report suggests organizations must move beyond annual culture surveys and adopt continuous listening strategies. Pulse checks tied to retention risk, internal mobility tracking and manager-level engagement data can help leaders identify disconnects earlier. Companies seeing stronger alignment are prioritizing three actions: increasing direct communication between leadership and frontline teams, linking development programs to measurable career pathways, and auditing whether inclusion initiatives are visible and understood across all levels of the workforce.

Organizations that treat culture as a measurable business driver rather than a branding exercise are twice as likely to report they are prepared for the future. Closing perception gaps early protects retention, strengthens trust and develops future leaders before disengagement becomes irreversible.

Methodology

Kelly commissioned Atomik Research to conduct an online survey of professionals across the globe. The sample included 2,011 executives and 2,009 workers. The margin of error is plus or minus two percentage points for each audience at a 95% confidence level.

Fieldwork was conducted between April 25 and May 16, 2025. Atomik Research, part of 4media group, is a creative market research agency.

This story was produced by Kelly and reviewed and distributed by Stacker.