Upstate NYS. 4 to 5 figs on $150,000 to $200,000 homes around 2,000 sq ft. NOT Mcmansions. Many can’t sell them or have to sell at a loss because buyers can’t or don’t want to assume the prop tax burden. Deductible, mostly, but still, that’s money that could be saved for retirement and won’t be.
This fact is something the people of Texas are not seeing coming. Property taxes are going to make their homes worthless.
Texas did a great job of selling "we don't have state income tax". It was a great selling point for the last couple decades but the bloom is off the rose. People are starting to figure out sky high property taxes are FAR worse than a state income tax and very low property taxes. With the state income tax you STOP paying the tax as soon as you don't have the high income. High property taxes never go away even when you can't generate enough income to afford them. It's a killer asteroid that's about to hit here and very few see it coming.