Illinois property tax
The state of Illinois has the second highest property tax in the country. The average national effective tax rate is 2.16%, almost double the national average. The typical Illinois homeowner pays $4,527 annually in property taxes. In some areas, this amount can exceed $6,000 per year.
One reason for the high property taxes in Illinois is the more than 8,000 different tax authorities. Property taxes in Illinois support city governments, county governments, and school districts, as well as a variety of other local services and projects. The types of tax districts that may appear on your Illinois property tax bill include fire prevention districts, health districts, park districts, and even mosquito elimination districts.
When you're thinking about buying real estate in Illinois, the idea of high property taxes can be a little overwhelming. To make the home buying process a little easier, take a look at ourIllinois Mortgage Rate Guide.It contains important details about obtaining a mortgage in the state of Prairie, including county-specific information.
ONEFinancial Advisor in Illinoiscan help you understand how home ownership fits into your overall financial goals.financial advisorHe can also help you with investments and financial plans including taxes, home buying, retirement planning and more to ensure you are prepared for the future.
How Illinois property taxes work
Property tax assessments and collections in Illinois occur on a cycle of approximately two years. During the first year, local appraisers appraise properties to determine the market value of every home in your area. The appraised home value is 33.33% (one-third) of the market value of the home in most of Illinois, although it may vary in some counties.
After local authorities calculate estimated property values, city councils check these values to see if they are correct. These councilors can correspond to the determined values. For example, if they find that a property in a particular county is valued at half its true value, they apply an adjustment factor of 2, doubling the appraised value of everything in the county.
Homeowners also have the opportunity to appeal the appraised value to the district council. If a homeowner is not satisfied with the county council's decision, they can appeal to the state board of basic tax appeals or even the district court.
The state of Illinois also equalizes values across counties by issuing an equalization factor for each county. This ensures that the estimated real estate values are comparable across countries.
Illinois property tax exemptions
There are a number of exceptions that can reduce the appraised value (and therefore property tax payments) in Illinois. The most significant is the General Homestead Exemption, which is available to homeowners living in their primary residence. The Homestead General Exemption equates to a $10,000 reduction in assessed value in Cook County and $6,000 in all other counties.
Another important exemption is the senior housing exemption. This exemption applies to homeowners over the age of 65 and can only be applied to your primary residence. Equivalent to a $5,000 reduction in appraised value, except in Cook County where the reduction is $8,000.
Property tax rates in Illinois
Certain Illinois tax rates are determined based on either the total tax base or the total real estate value with a county. In the second year of the property tax cycle, each tax authority determines its tax based on the tax base and required income. Therefore, the rates change each year based on property values and income needs (which are generally subject to voter approval).
Typically, however, the rate changes are small. Overall tax increases are capped by the Property Tax Extension Limitation Act (PTELL). This law limits property tax growth that results from rising property values. In this situation, income (and hence the tax burden) must not grow faster than the rate of inflation (change in consumer price index) or 5%, whichever is lower.
Despite this limitation, Illinois property taxes are quite high. The table below shows the effective average property tax rates for each county in Illinois.
| district | average house value | Average annual property tax payment | Average effective property tax rate |
|---|---|---|---|
| Adams County | 126.100 $ | $2.130 | 1,69% |
| Alexander County | 53.500 $ | 692 $ | 1,29% |
| County of Bonds | 122.500 $ | $2.140 | 1,75% |
| Boone County | 152.600 $ | 3.906 $ | 2,56% |
| Brown County | 89.600 $ | 1.435 $ | 1,60% |
| office county | 109.700 $ | 2.327 $ | 2,12% |
| Calhoun County | 114.300 $ | 1.916 $ | 1,68% |
| Caroll County | 101.600 $ | 1.984 $ | 1,95% |
| Cass County | 78.100 $ | 1.541 $ | 1,97% |
| Champaign County | 157.800 $ | 3.493 $ | 2,21% |
| christian county | 90.000 $ | 1.638 $ | 1,82% |
| Clark County | 87.800 $ | 1.693 $ | 1,93% |
| clay county | 81.700 $ | 1.311 $ | 1,60% |
| Clinton County | 148.100 $ | 2.894 $ | 1,95% |
| Coles County | 97.600 $ | $ 2.090 | 2,14% |
| Cook County | 237.200 $ | 4.984 $ | 2,10% |
| Crawford County | 87.000 $ | 1.408 $ | 1,62% |
| Cumberland County | 100.700 $ | 1.756 $ | 1,74% |
| DeKalb County | 169.800 $ | 4.881 $ | 2,87% |
| Witt County | 100.900 $ | 1.853 $ | 1,84% |
| Douglas County | 106.500 $ | $2.125 | 2,00% |
| DuPage County | 299.000 $ | 6.627 $ | 2,22% |
| Edgar County | 80.100 $ | 1.266 $ | 1,58% |
| Edwards County | 76.500 $ | $ 1.125 | 1,47% |
| County Effingham | 140.300 $ | $2.145 | 1,53% |
| Fayette County | 84.700 $ | 1.404 $ | 1,66% |
| Ford County | 98.400 $ | $2.214 | 2,25% |
| Franklin County | 74.500 $ | 1.169 $ | 1,57% |
| County Fulton | 86.700 $ | 1.845 $ | 2,13% |
| County Gallatin | 75.300 $ | 911 $ | 1,21% |
| Greene County | 77.400 $ | 1.277 $ | 1,65% |
| County Grundy | 191.300 $ | $4.019 | 2,10% |
| Hamilton County | 98.100 $ | 1.313 $ | 1,34% |
| Hancock County | 86.700 $ | 1.601 $ | 1,85% |
| Hardin County | 71.500 $ | 601 $ | 0,84% |
| Henderson County | 91.300 $ | 1.412 $ | 1,55% |
| Henry County | 118.800 $ | 2.439 $ | 2,05% |
| County of the Iroquois | 99.500 $ | 2.124 $ | 2,13% |
| Jackson County | 106.400 $ | $2.126 | 2,00% |
| Jasper County | 99.400 $ | 1.562 $ | 1,57% |
| Jefferson County | 94.400 $ | 1.520 $ | 1,61% |
| Jersey County | 144.800 $ | 2.617 $ | 1,81% |
| Jo Daviess County | 144.600 $ | 2.804 $ | 1,94% |
| Johnson County | 99.400 $ | 1.467 $ | 1,48% |
| Kane County | 232.000 $ | 6.164 $ | 2,66% |
| Kankakee County | 144.200 $ | 3.439 $ | 2,38% |
| Kendall County | 224.200 $ | 6.597 $ | 2,94% |
| County Knox | $ 83.100 | 1.665 $ | 2,00% |
| Lake County | 259.900 $ | 7.347 $ | 2,83% |
| LaSalle County | 126.000 $ | 2.788 $ | 2,21% |
| Lawrence County | 73.800 $ | 985 $ | 1,33% |
| Lee County | 117.600 $ | 2.499 $ | 2,13% |
| County of Livingston | 109.700 $ | 2.640 $ | 2,41% |
| Logan County | 102.900 $ | 2.032 $ | 1,97% |
| Mcdonough County | 94.200 $ | 1.889 $ | 2,01% |
| McHenry County | 219.600 $ | 6.312 $ | 2,87% |
| McLean County | 166.700 $ | 3.825 $ | 2,29% |
| Macon County | 96.800 $ | $2.147 | 2,22% |
| County Macoupin | 99.600 $ | 1.632 $ | 1,64% |
| Madison County | 132.300 $ | 2.691 $ | 2,03% |
| Marion County | 74.900 $ | 1.399 $ | 1,87% |
| Marshall County | 104.800 $ | 2.406 $ | 2,30% |
| Mason County | 79.600 $ | 1.705 $ | 2,14% |
| massac county | 83.700 $ | 1.316 $ | 1,57% |
| Menard County | 137.400 $ | 2.680 $ | 1,95% |
| County Mercer | 106.000 $ | 2.350 $ | 2,22% |
| Monroe County | 209.100 $ | 3.746 $ | 1,79% |
| County of Montgomery | 82.200 $ | 1.483 $ | 1,80% |
| Morgan County | 104.800 $ | $2.041 | 1,95% |
| Moultrie County | 109.000 $ | 2.251 $ | 2,07% |
| Ogle County | 143.100 $ | $ 3.126 | 2,18% |
| County Peoria | 129.900 $ | $ 3.016 | 2,32% |
| County Perry | 85.400 $ | 1.487 $ | 1,74% |
| Piatt County | 130.300 $ | 2.472 $ | 1,90% |
| Pike County | 78.800 $ | 1.382 $ | 1,75% |
| Dad's district | 87.200 $ | 1.142 $ | 1,31% |
| Pulaski district | 63.600 $ | 702 $ | 1,10% |
| Putnam County | 124.500 $ | 2.141 $ | 1,72% |
| Randolph County | 104.700 $ | 1.486 $ | 1,42% |
| County Richlands | 87.700 $ | 1.608 $ | 1,83% |
| County Rock Island | 117.000 $ | 2.614 $ | 2,23% |
| St Clair County | 124.700 $ | 2.754 $ | 2,21% |
| salt county | 73.100 $ | 1.212 $ | 1,66% |
| Sangamon County | 138.100 $ | 2.794 $ | 2,02% |
| Schuler circle | 85.900 $ | 1.463 $ | 1,70% |
| Scottish county | 85.000 $ | 1.291 $ | 1,52% |
| Shelby County | $ 90.100 | 1.642 $ | 1,82% |
| strong county | 85.400 $ | 1.607 $ | 1,88% |
| County Stephenson | 97.000 $ | 2.645 $ | 2,73% |
| Tazewell County | 139.700 $ | 2.952 $ | 2,11% |
| union district | 101.500 $ | 1.533 $ | 1,51% |
| Vermilion County | 78.900 $ | 1.423 $ | 1,80% |
| Wabash County | 80.500 $ | 1.441 $ | 1,79% |
| Warren County | 84.300 $ | 1.620 $ | 1,92% |
| Washington County | 109.400 $ | 2.288 $ | 2,09% |
| Wayne County | 82.000 $ | $ 1.037 | 1,26% |
| white county | 69.700 $ | 975 $ | 1,40% |
| Whiteside County | 103.400 $ | 2.354 $ | 2,28% |
| Will County | 224.800 $ | 5.940 $ | 2,64% |
| Williamson County | 111.800 $ | 1.685 $ | 1,51% |
| Winnebago County | 117.000 $ | 3.497 $ | 2,99% |
| Woodford County | 162.700 $ | 3.597 $ | 2,21% |
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Cook County
Cook CountyIt is the largest county in Illinois and is home to over 40% of the state's residents. Cook County property tax rates are actually lower than the state mark, with an average rate of 2.10% for the county compared to 2.16% for the state.
While Cook County's home appraisal level of 10% is lower than the rest of the state's level (33.33%), that difference is more or less offset by the state's equalization factor, which was 2,916 for 2019 that the first calculated cadastral values are multiplied by 2.9160 to arrive at the cadastral values on which taxes are levied.
Some Chicago taxpayers pay slightly lower tax rates than neighboring cities. About 20% of the county's property tax revenue goes to the Chicago Board of Education. About 10.5% of tax revenue goes to the city itself and about 5% to the county. The average Chicago homeowner ranges from about $2,400 to just under $6,000 in property taxes per year, depending on where you live in the city.
If you have questions about how property taxes might affect your overall financial plans, aFinancial Advisor in Chicagocan help you
DuPage County
A typical homeowner in DuPage County pays $6,627 per year in property taxes. It is one of the highest in the state but reflects the county's high residential values. The average home in DuPage County is valued at $299,000, the highest of any Illinois county. In fact, tax rates in DuPage County are about average for the state, with an average effective tax rate of 2.22%.
Lake County
If you're looking for low Illinois property taxes, Lake County may not be the best option. The district, which is north of Chicago, has an average effective property tax rate of over 2.83%. This is also one of the highest rates in the state. However, in absolute terms, homeowners in Lake County pay more than anyone else in the state. The average Lake County homeowner pays $7,347 annually in property taxes.
Will County
Located south of DuPage and Cook counties, Will County is home to one of the state's largest cities, Joliet. Property taxes in Will County are well above the state and national averages. The county's average effective property tax rate is 2.64%, more than double the state average. This means that if you own a $200,000 home in Will County, you can expect to pay about $5,280 a year in property taxes.
Kane County
Kane County has some of the highest property taxes in Illinois. The typical Kane County homeowner pays $6,164 annually in property taxes. While that's almost $2,000 more than the national average, it's also less than neighboring DuPage County, where the average salary is more than $6,600 per year.
McHenry County
McHenry County has an effective property tax rate that is well above the state average, currently 2.87%. Since the median home value is $219,600, that means the typical McHenry County homeowner pays $6,312 in property taxes each year.
Winnebago County
With nearly 300,000 residents, Winnebago County is one of the largest counties in Illinois. It is located in the north-central part of the state and includes the state's third-largest city, Rockford. At 2.99%, the county's average property tax rate is the highest in the state.
St Clair County
The County of St. Clair collects property taxes to support county government, towns and schools. The average homeowner in St. Clair pays $2,754 annually in property taxes.
Madison County
Across the Mississippi River from St. Louis, Missouri, Madison County has lower property taxes than many other populous Illinois counties. The effective average property tax rate in Madison County is 2.03%.
Champaign County
Champaign County includes the sister cities of Champaign and Urbana and the University of Illinois campus at Champaign-Urbana. The typical homeowner pays $3,493 annually in property taxes.
FAQs
How do I calculate my property taxes in Illinois? ›
The real estate has an assessed value that is determined by the county assessor. That amount is then multiplied by the state equalization factor to give the property an equalized assessed value (EAV). The EAV is then multiplied by the local tax rate to get you to the total real estate tax.
At what age do you stop paying property taxes in Illinois? ›Senior Citizens Real Estate Tax Deferral Program allows persons 65 years of age and older, who have a total household income of less than $55,000 and meet certain other qualifications, to defer all or part of the real estate taxes and special assessments on their principal residences.
Why is Illinois property tax so high? ›Pappas said the tax increases are due to a combination of property assessments increasing, gentrification, a new Illinois property tax law allowing governments to recover taxes refunded to owners, increased government and school budget costs and rising home values in Latino neighborhoods like Humboldt Park and Avondale ...
How much can property taxes increase per year in Illinois? ›This law limits property tax growth that results from rising property values. In this situation revenues (and therefore tax bills) cannot grow faster than the rate of inflation (change in the Consumer Price Index) or 5%, whichever is lower. Despite that limitation, property taxes in Illinois are quite high.
What is the math formula for property tax? ›Property taxes are calculated by taking the mill rate and multiplying it by the assessed value of your property. The market value of your property is assessed by using one or a combination of three methods: performing a sales evaluation, the cost method, and the income method.
How is the property tax calculated? ›The tax you pay is based on the market value of the property on the valuation date. The valuation date for LPT is 1 November 2021. The value of your property on that date will be used to calculate your LPT for the years 2022–2025.
How can I pay less property taxes in Illinois? ›You can get your property taxes lowered by proving that your house is worth less than the assessor says it is. To do this, you have to appeal to your local board of review. You can find contact information for your local board of review on the Illinois Property Tax Appeal Board website.
How do I avoid property taxes in Illinois? ›- Own or lease a house in the state, live in it as their principal residence and are responsible for paying taxes on the property.
- Have a disability.
- Are disabled veterans who have used federal funds to adapt their home to accommodate their disability.
The applicant must have owned and occupied the property as of January 1 and must have been 65 years of age or older during the tax year in question. The Assessor's Office now automatically renews Senior Citizen Exemptions for properties that were not sold to new owners in the last year.
Which county in Illinois has the highest property taxes? ›It is important to note that this measure does not include commercial or other properties that have a higher tax burden by policy in Cook County and certain other jurisdictions across the United States. Lake County had the highest median property taxes paid in Illinois at $7,724.
Which suburb in Illinois has the lowest property taxes? ›
Which Chicago suburb has the lowest property taxes? Chicago suburbs with the lowest property taxes include Indian Head Park, Burr Ridge, Glenco, and Long Grove, Illinois. When it comes to property taxes in Cook County suburbs only, Winnetka and Kenilworth are the lowest with 0.93% and 0.88% respectively.
What county in Illinois has the lowest property taxes? ›Lake County collects the highest property tax in Illinois, levying an average of $6,285.00 (2.19% of median home value) yearly in property taxes, while Hardin County has the lowest property tax in the state, collecting an average tax of $447.00 (0.71% of median home value) per year.
How are property taxes calculated in Cook County? ›For residential property owners, the assessed value equals 10% of the fair market value of the home. For most commercial property owners, the assessed value is 25% of the fair market value. This level of assessed value is the taxable amount of the property, as determined by Cook County ordinance.
How do I calculate property taxes and lots? ›The RPT rate for the Metro Manila area is 2% and 1% for provinces. Real estate tax can be computed using the formula: Real Estate Income Tax = Real Estate Rate X Assessed Value, wherein the assessed value for a property is defined by the fair market price multiplied by the assessed value set in ordinances.
What are the current tax brackets 2022? ›The 2022 Income Tax Brackets (Taxes due April 2023)
For the 2022 tax year, there are seven federal tax brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your tax bracket is determined by your filing status and taxable income.