And the Real Kentucky Derby Winner Is…..

Louisville!  While the fabled Kentucky Derby at Churchill Downs in Louisville, KY had an unusual outcome this weekend, the City of Louisville was the big winner.

And that is because homeowner’s in Louisville, KY pay the lowest real estate taxes among the 50 biggest Metro-City areas!

LendingTree just released its study on how owning real estate impacts people in different areas around the country.

LendingTree looked at the average amount of real estate taxes, mortgage interest and mortgage insurance premiums that were paid by homeowners in a given metro, as reflected on their tax returns. The study then ranked the nation’s 50 largest metros to show where people paid the lowest taxes on their homes.

Key findings

  • People from metros in more rural states tend to pay less in real estate taxes. Homeowners in Birmingham, Ala., Louisville, Ky., and Salt Lake City pay an average of $2,600 on real estate taxes, which is the lowest out of the nation’s 50 largest metros.
  • Louisville, Ky.
    % of returns with real estate taxes: 27.7%
    Average real estate tax amount: $2,733
    % of returns with mortgage interest paid: 24.2%
    Average mortgage interest paid: $6,297
    % of returns with mortgage insurance premiums paid: 4.3%
    Average mortgage insurance premium amount: $1,227

Source: LendingTree Real Estate Tax Survey