Homeowners pay most property taxes in these states – see how California ranked

California's real estate market continues to be extremely competitive

FOX 11's Hailey Winslow was in Mission Viejo as the demand for homes remain extremely high across Orange County.

LOS ANGELES - U.S. existing home sales continued to slide in August as a combination of steep mortgage rates and a worsening supply shortage squeezed would-be homebuyers.

There were about 1.1 million homes for sale at the end of August, according to new data released Thursday by the National Association of Realtors (NAR)., down 0.9% from the previous month and 14.1% from the same time one year ago.

A new study recently revealed which states in the U.S. pay the most in annual property taxes - and you may be surprised how California ranked.

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According to the analysis by Tax Foundation, New Jersey residents pay the highest in the country - a median of $8,797.

To calculate median property tax amounts, the Tax Foundation used the median amount of taxes paid for owner-occupied homes between 2017 and 2021, according to U.S. Census American Community Survey data. The data excludes property taxes paid by businesses and renters.

Coming in second was Connecticut ($6,153), then New Hampshire ($6,036), New York ($5,884), and Massachusetts rounding out the top five ($5,091).

California rounded out the top 10, ranking 9th on the list ($4,279).

By comparison, the state with the least expensive property taxes was Alabama ($646).

Property taxes generate 32.2% of state and local revenues in the U.S., according to the study.

To see the full study, tap or click here.

FOX Business contributed to this report.

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