A new study reported by Crain’s reveals four out of the top five urban areas with the highest property tax are in Illinois.
The report comes after a property information service, Attom, analyzed the property tax rates for 217 different urban areas.
The four cities listed were Rockford, Chicago, Peoria and Champaign-Urbana.
The report detailed the percentage homeowners pay above market value for their home.
Here are the results:
Rockford: 2.06% above market value Chicago: 1.91% above market value Peoria: 1.89% above market value Champaign-Urbana: 1.88% above market valueAttom’s analysis also said the effective property tax rate by homeowners in those cities was more than double the national average.
Another Illinois city was also on the list- Springfield came in sixth place.
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