Peoria has the highest property taxes in the country relative to market value of homes, according to a study of 342 of the largest cities.

SmartAsset ranked cities based on the “median annual real estate taxes paid on owner-occupied homes with a mortgage relative to the median home value of such households.”

Peorians, according to the study, pay 2.64% of the value of their homes in annual property taxes, the highest mark in the country, according to the study based on data from the U.S. Census Bureau’s 1-Year American Community Survey for 2023. The median amount spent in property taxes for owner-occupied homes was $4,455 a year and the median home value in Peoria was $168,900, according to SmartAsset.

Illinois had the top two cities on the list and four of the top eight. Rockford was No. 2. Homeowners there paid 2.46% of their home value in property taxes with a median of $3,452 in property taxes paid, according to the study. The median home value in Rockford was $140,300, according to the study.

The rest of the top five, based on the highest percentage of property taxes paid relative to home values, included: Waterbury, Connecticut (2.39%); Syracuse, New York (2.36%); and Albany, New York (2.34%).

Elgin was seventh with 2.23% of home value paid for real estate taxes, with $6,394 being the median amount for property taxes and $287,300 listed as the median home value. Aurora was eighth with 2.21% of home value paid in property taxes, with a median property tax amount of $6,310 and a median home value of $285,300.

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