New York City is known for its pricey real estate, but some homeowners get an unexpected bargain: Property taxes on some of the fanciest, most coveted properties are often very low — at least relatively. Its annual property tax bill is around $12,000 — about 0.2 percent of the home’s overall worth. Now compare that with the $7,500 tax bill for a $780,000 home in the Bronx. The cheaper home has an effective property tax rate almost four times higher. Both bills are lower than in much of the suburbs, where property taxes for less valuable homes routinely top $25,000.

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Locations: York City, Brooklyn’s Park, Bronx