For most homeowners, property taxes pack a painful punch each year. They can cost thousands of dollars, depending on the city.
In some areas of the country, mortgage holders can pay nearly 10% of their income to property taxes. Here are the 10 cities with the highest property tax burdens, according to SmartAsset.
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Paterson, New Jersey
According to the SmartAsset study, the city in the U.S. with the highest tax burden was Paterson, New Jersey. Homeowners in the city paid an astounding property tax rate of 9.8%, as a percentage of income. In fact, the median annual property taxes paid were $9,779. Paterson homeowners have median monthly housing expenses of $2,869, some of the highest in the nation…