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new analysis reveals that Illinois homeowners face significant property tax burdens. SmartAsset examined 342 US cities with populations over 100,000, ranking them by median real estate taxes as a percentage of annual housing payments. The study found six Illinois cities among the top 20 places with the highest real estate taxes in the country.

    Peoria holds the top spot nationwide, with an effective property tax rate of 2.6% on homes valued at $168,900, resulting in a median annual tax bill of $4,455. Rockford comes in second, with a 2.4% tax rate and a median tax bill of $3,452. Other top cities include Waterbury, Connecticut; Syracuse, New York; and Albany, New York.

    Illinois cities also rank high on the list, including Elgin (7th), Aurora (8th), Joliet (13th), and Springfield (16th). In contrast, southwestern US cities tend to have lower real estate taxes relative to home values. Cities in Arizona and Nevada, such as Scottsdale, AZ, and San Tan Valley, AZ, are among the cheapest. Chicago ranks third in aggregate residential real estate taxes collected at $3.2 billion, behind only New York and Los Angeles.