Originally Posted by
golfmad
For clarity, you'd need an assessed home value of roughly $4m to generate a property tax of $40k per annum. The median house price in the US is $200,000 which would be roughly $2k in property taxes. There will be a tiny percentage of Americans paying property taxes at that level or above.
Not in Illinois unfortunately!
A property with a market value of roughly $1.2m will end up with a property tax bill of $40k