Property Tax in Illinois (2026): Rates, Exemptions, and Real Numbers

Illinois Property Tax Rates by County

Highest and lowest effective rates within Illinois

Property Tax Calculator — Illinois

Pre-loaded with Illinois's 1.88% effective rate and $282,909 median price

Property Tax by City in Illinois

Annual and monthly property tax by city, based on local median prices and the statewide effective rate

Illinois Homestead Exemption

How Illinois Assesses Property Values

Assessment cycle: Triennial reassessment cycle in Cook County (north suburbs, south suburbs, Chicago each on 3-year rotation). Annual reassessment in downstate counties.

Property Tax's Impact on Your True Monthly Cost

On a $282,909 home in Illinois

Property tax represents 17% of the true monthly cost in Illinois.

Mortgage Calculator Including Property Tax — Illinois

See your full PITI (principal, interest, taxes, insurance) payment

How Illinois's Property Tax Affects Affordability

$443/month in property tax reduces the home price you can afford. Use the affordability calculator to see the real impact.

Property Tax After Refinancing in Illinois

Refinancing changes your P&I but not your property tax. If your home was reassessed at a higher value, your tax bill increases regardless of your rate.

Frequently Asked Questions

What is the property tax rate in Illinois?

Illinois's effective property tax rate is 1.88%, ranking #1 nationally. The median annual property tax bill is $5,319 ($443/month). Rates range from 0.84% in Hardin County to 2.19% in Lake County. Source: Tax Foundation Property Taxes by State 2024.

Does Illinois have a homestead exemption?

Yes — Illinois offers a homestead exemption for primary residences. General Homestead Exemption reduces assessed value by up to $10,000 (Cook County) or $6,000 (all other counties). Homestead Improvement Exemption caps value increases on new improvements for 4 years. Senior Citizens Homestead Exemption adds $5,000 reduction. Assessment-to-market-value ratios vary by county (Cook: 10% for residential).. Apply through your county assessor's office after purchasing your home.

How often is property reassessed in Illinois?

Illinois reassesses property on a triennial reassessment cycle in cook county (north suburbs, south suburbs, chicago each on 3-year rotation). annual reassessment in downstate counties. basis. When your property is reassessed, your tax bill changes based on the new assessed value multiplied by the applicable rate. If you believe your assessment is too high, you can appeal — most counties allow 30-90 days after receiving your assessment notice.

How is property tax calculated in Illinois?

Property tax = Assessed Value × Mill Rate (or effective rate). In Illinois, the effective rate is 1.88% of market value. On a $282,909 home: $282,909 × 1.88% = $5,319/year. Assessments may use a fraction of market value — the effective rate accounts for this.

Can I appeal my property tax assessment in Illinois?

Yes. If your assessed value is higher than comparable sales in your area, you can file an appeal with your county assessment board. Steps: (1) Get your assessment notice, (2) Research comparable recent sales, (3) File an appeal by the deadline (typically 30-90 days from assessment notice). Studies show 20-40% of appeals result in a reduction. The process is free and you represent yourself — no attorney required.

Are property taxes included in my mortgage payment in Illinois?

Most lenders require an escrow account that collects $443/month ($5,319/year ÷ 12) along with your mortgage payment, then pays the county on your behalf. If your loan-to-value is below 80%, you may be able to opt out of escrow and pay taxes directly. Note: if your assessed value rises, your escrow payment adjusts and your total monthly cost increases.

What Illinois counties have the highest and lowest property taxes?

Illinois's highest effective rate is in Lake County at 2.19%. The lowest is Hardin County at 0.84%. That's a 1.35% spread — on a $282,909 home, the difference is $3,819/year.