Property taxes are an unavoidable part of owning a home. They are generally wrapped into the mortgage payment to ensure that your home doesn't incur a lien, or worse—foreclosure. And even after your mortgage ends, property taxes are a lifelong homeowner expense. These taxes pay for local amenities, such as schools, infrastructure, police, and fire support, among other local services. How much you owe will vary from place to place and may even change over time. And while there may be discounts and exemptions available to some, it's important to plan for property taxes in your short- and long-term budget as a homeowner.
With this in mind, SmartAsset ranked 342 of the largest U.S. cities to pinpoint where homeowners pay the most in property taxes in relation to their homes' market values.
Cities are ranked based on the highest percentage of median annual real estate taxes paid on owner-occupied homes with a mortgage relative to the median home value of such households.
Cities are ranked based on the lowest percentage of median annual real estate taxes paid on owner-occupied homes with a mortgage relative to the median home value of such households.
SmartAsset examined data from the Census Bureau's 1-Year American Community Survey for 2023. The study includes 342 cities with greater than 100,000 in population. Specifically, cities are ranked by the median real estate taxes paid (by homeowners with a mortgage) as a proportion of the median annual housing payments. Any amounts of $10,000 even may actually be higher than $10,000.
This story was produced by SmartAsset and reviewed and distributed by Stacker.