50-State Commercial Real Estate Property Tax Directory
Compare commercial and industrial real estate assessment ratios, effective commercial millage rates, Triple Net (NNN) tenant tax pass-through formulas, and municipal industrial tax abatements (Updated for 2026).
| State | Commercial Assessment Ratio | Avg Effective Commercial Tax Rate | NNN Tax Drag / $1M Value | Industrial Abatement Programs |
|---|---|---|---|---|
| Alabama | 20.0% of Market Value | 0.78% | $7,800 / yr | Chapter 9B Industrial Exemption |
| Hawaii | 100% of Market Value | 0.85% | $8,500 / yr | Enterprise Zone Tax Exemption |
| Wyoming | 11.5% Industrial / 9.5% Comm | 0.92% | $9,200 / yr | Industrial Development Revenue Bonds |
| Nevada | 35.0% of Market Value | 1.02% | $10,200 / yr | GOED Partial Property Tax Abatement |
| Delaware | 100% (County Variations) | 1.10% | $11,000 / yr | Targeted Industry Opportunity Grants |
| California | 100% of Purchase (Prop 13) | 1.25% (Split Roll Protections) | $12,500 / yr | California Competes Tax Credit |
| Washington | 100% of Market Value | 1.35% | $13,500 / yr | Manufacturing Sales & Use Tax Deferral |
| North Carolina | 100% of Market Value | 1.40% | $14,000 / yr | Job Development Investment Grant (JDIG) |
| Florida | 100% of Market Value | 1.45% (10% Comm Non-Homestead Cap) | $14,500 / yr | Economic Development Ad Valorem Exemption |
| Georgia | 40.0% of Market Value | 1.50% | $15,000 / yr | Freeport Inventory Exemption |
| Tennessee | 40.0% Industrial & Commercial | 1.60% | $16,000 / yr | PILOT (Payment In Lieu of Taxes) |
| Arizona | 17.0% (Class 1 Commercial) | 1.75% | $17,500 / yr | Government Property Lease Excise (GPLET) |
| Pennsylvania | 100% (Pre-determined ratio) | 2.10% | $21,000 / yr | LERTA (Local Economic Revitalization) |
| Ohio | 35.0% of Market Value | 2.25% | $22,500 / yr | Community Reinvestment Area (CRA) 100% |
| Texas | 100% Market (Annual Appraisal) | 2.35% | $23,500 / yr | Chapter 312 Property Tax Abatement |
| New York | 100% (Class 4 NYC Surcharge) | 2.45% (NYC up to 4.2%) | $24,500 / yr | Industrial & Commercial Abatement (ICAP) |
| Michigan | 50.0% (State Equalized SEV) | 2.60% | $26,000 / yr | IFT (Industrial Facilities Exemption) PA 198 |
| New Jersey | 100% Equalized Value | 2.80% | $28,000 / yr | 5-Year Commercial Tax Abatement (Short-term) |
| Illinois | 25.0% Cook County / 33.3% Collar | 3.45% (Cook County > 4.5%) | $34,500 / yr | Class 6b Industrial Incentive (Cook County) |
| Iowa | 90.0% Commercial Rollback | 3.10% | $31,000 / yr | High Quality Jobs Program (HQJP) |