What are the property taxes on a 5 million dollar home?

Property taxes on a $5 million home can vary significantly depending on the location and local tax rates. Generally, property tax rates range from about 0.5% to 2% of the home's assessed value. For example, if the tax rate is 1%, the annual property tax would be approximately $50,000. It's important to check with local tax authorities for the specific rate applicable to the property in question.