Property tax revenues collected by local and state jurisdictions surged nearly 5% at the end of last year and continued an ongoing nine-quarter stretch of increases.
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The $210.7 billion generated in the fourth quarter reflected a seasonally adjusted 1% uptick from $208.5 billion three months earlier, according to a National Association of Home Builders analysis of U.S. Census Bureau data. Compared to one year earlier, the number reflected a 4.8% jump up from $201 billion.
Property taxes accounted for $826.8 billion, or 37.5%, of the $2.2 trillion in overall assessments collected in full-year 2025. The fourth-quarter share was 37.3%, hovering near the same level for three years running, NAHB said.
Over the nine quarters of property tax growth since the second half of 2023, revenue has increased 15.2% from $182.8 billion.
“Property taxes typically make up the largest share of the total tax revenue for state and local governments, with most property tax collected by local governments,” researchers explained.
The new data comes as housing experts and lawmakers are turning much of their focus on the effects accelerating property taxes have put on homeowner affordability in recent years.
Since 2023, several states have either proposed or enacted legislation to help homeowners cut, or, in some cases, even eliminate, their property tax bills.
At the same time, steadily rising bills are leading to the emergence of companies aimed at helping homeowners find ways to negotiate their tax assessments. One such company, Ownwell, announced a new partnership with Carrington Mortgage Services this week.
The deal gives Carrington customers using its servicing platform direct access to Ownwell’s tax appeal assistance program.
“We continuously seek ways to add value for our customers beyond traditional servicing,” said Tom Huddleston, managing director and head of Carrington affiliate, Vylla Companies, in a press release. “Partnering with Ownwell gives our customers access to a service that can reduce their property tax burden without any upfront investment.”
Comparisons to other types of taxes
Compared to the amount coming from homeowners, the $155.7 billion in 2025 sales taxes made up 27.6%, NAHB said. The $152.5 billion in collected income taxes accounted for a near-similar slice of 27%, while corporate levies contributed $45.8 billion, or an 8.4% share, for local and state coffers.
On a quarterly basis, total revenue collected across all four categories increased 2.1%. The 1% in property tax growth, though, was the slimmest of the four compared to the 8.3% coming from corporations. Sales and individual income taxes increased by 2.5% and 1.4% between third and fourth quarters.