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While Honolulu has the lowest relative real estate taxes with $2,346 median annual payments making up 0.28% of the median $823,500 home values, Arizona and Nevada cities constitute the majority of ...
Aurora, the fourth Illinois city to make the top 10, has a median home value of $285,300 and a median real estate tax of $6,310 for homes with a mortgage and $5,359 for homes without. 9. Rochester ...
This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.
The property tax is a local tax, imposed by counties, townships, municipalities, school districts, and special taxation districts. The property tax in Illinois is imposed only on real property. [5] [6] [7] Illinois counties, townships, cities, and villages may also promulgate local ordinances. [8]
Rank County Per capita income Median household income Median family income Population Number of households 1 Lake: $38,120 $78,948 $91,693 703,462 241,712
In 2012, the city had the highest tax rates of the year; as of 2021, that meant an average overall tax rate of 13.5% for families earning $150,000. The high rates are attributable to higher home ...
Administrative divisions of Illinois; List of census-designated places in Illinois; List of cities in Illinois; List of Illinois townships; List of towns and villages in Illinois; List of counties in Illinois; List of precincts in Illinois
The post Where Real Estate Taxes Are Highest – 2023 Study appeared first on SmartReads by SmartAsset. Whether an individual or family is just starting out as a first-time homebuyer, or retirees ...