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In One Chart: Booming home prices are boosting state and local governments

Property tax collections hit the highest since at least 2009 as the housing market stayed hot through the COVID-19 downturn, according to a report out Wednesday.

The analysis, from the National Association of Home Builders, uses Census Bureau quarterly tax data to show that property owners paid $703.5 billion in the four quarters ending in Q2 2021. That is up 13.2% for the year, and marked the first time an annual increase topped 10% since the end of the 2007-09 Great Recession.

The…

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