Find the home of your dreams, settle down, and raise a family with a great yard and a white picket fence. Every fairy tale needs a villain, and the American Dream has property tax. Some states big evils are larger than others, so let's take a look at how Michigan's above-average property taxes stack up against the rest of the United States.

Related: Michigan, Indiana, Ohio: 3 of USA's Fastest-Selling Home Markets

Michigan's effective real estate tax rate is 1.35%, and WalletHub estimates the state median home value to be $201,100. That adds up to $2,708 in property taxes, but how does that compare with the rest of the United States?

Comparing Michigan's Property Tax Rate to the Rest of the United States

RANKING: Michigan's Property Taxes Among Nations Highest
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WalletHub recently crunched the data, and the state with the lowest real estate tax rate is Hawaii. Like Michigan, it has unique features and beaches that can only be seen in one place. Unlike Michigan, it has volcanoes, saltwater surroundings, and a 0.27% property tax rate.

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It sounds like Hawaii is a bargain, right? Wrong. The average median home value is a whopping $764,800, which translates to $2,054 annually. Hawaii has savings compared to Michigan but also has volcanoes, earthquakes, and tsunamis.

RANKING: Michigan's Property Taxes Among Nations Highest
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As for the other end of the spectrum, New Jersey took the title for the state with the highest tax rate, at 2.33%. If the average median home value were in line with Michigan's, it would still be a painful price hike, but the average taxable home value in New Jersey is $401,400, making the annual property tax a paltry $9,345.

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Remember that these aren't the only property taxes residents of these states pay. As in Michigan, every state's cities, counties, and other municipalities may also take a slice of your property tax pie. Be sure to check with each to ensure you're current.

Property Taxes by State: The USA's Lowest and Highest

Finding the home of your dreams, settling down, and raising a family with a great yard and a white picket fence. Every fairy tale needs a villain, and the American Dream has property tax. WalletHub recently ranked the 50 and the District of Columbia to determine which state has the highest property tax in the United States. Let's start from the lowest and finish with America's highest state property tax.

Gallery Credit: Scott Clow

Fast Housing: Countdown to the USA's Best State for Home Sales

AgentAdvice.com, a partner to the real estate community, recently crunched data from Zillow, to determine which states are the fastest and easiest markets to sell a home. (some states were excluded as not enough data was available). Let's countdown to the Nation's Fastest and Easiest State for Home Sales.

Gallery Credit: Scott Clow

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