Property taxes are an important consideration for first-time homebuyers and for those looking to relocate. Homeowners across the United States pay anywhere from 1% to 10% of their income on property taxes, even after they pay off their mortgage, according to a new report from SmartAsset.
In some jurisdictions, older Americans, owner-occupants and other groups may receive preferential tax treatment, the report noted. These taxes pay for local infrastructure and amenities, even though not all households use these benefits equally.
SmartAsset ranked 343 cities with populations of more than 100,000 based on the percentage of homeowner income that goes to paying annual property taxes. Researchers compared the median annual real estate taxes paid to the median household income for homeowners according to the U.S. Census Bureau 1-Year American Community Survey for 2024.
See the accompanying gallery for the 12 cities where homeowners have the highest property tax burden as a percentage of income.
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