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martAsset's analysis reveals that four Illinois cities rank among the top 10 places with the highest property tax rates relative to home values. Joining them are East Coast cities and Pearland, Texas. According to Tax Foundation data from 2022, New Jersey has an effective tax rate of 2.08%, followed by Illinois at 1.95%. However, some cities in higher-tax states surpass these rates, landing them on the list.

    In Peoria, Illinois, property taxes account for 2.64% of home value, with a median home value of $168,900 and annual property tax payments of $4,455 for homeowners with a mortgage. Rockford ranks second, with property taxes making up 2.46% of home value, resulting in median annual payments of $3,452.

    Waterbury's high median home value of $234,400 means that homeowners pay a median of $5,607 in property taxes if they have a mortgage and $4,892 without one. In Syracuse, homeowners with a mortgage pay a median of $3,254 in property taxes, while those without a mortgage pay $3,044.

    The Albany area has a median home value of $237,700, with homeowners paying a median of $5,561 in property taxes if they have a mortgage and $3,920 without. Paterson, New Jersey ranks sixth, but its high median home value of $432,000 results in the highest median annual property tax payment among the top 20 cities at $10,000.