Estimate your Illinois property tax based on the state's 2.07% average effective rate. Enter your home value for an instant, free calculation.
Enter any tax exemption amount you qualify for in Illinois
Illinois has the second-highest effective property tax rate in the nation at 2.07%. The combination of high rates and moderate home values creates significant financial pressure on homeowners, particularly in Cook County (Chicago) and the collar counties.
Illinois uses a complex multi-tiered assessment system. In Cook County, residential property is assessed at 10% of market value; commercial at 25%. Outside Cook County, assessments are set at 33.3% of market value. Tax increment financing (TIF) districts further complicate the picture.
| Home Value | Estimated Annual Tax | Monthly (Escrow) |
|---|---|---|
| $250,000 | $5,175 | $431/mo |
| $255,600 (median) | $5,291 | $440/mo |
| $600,000 | $12,420 | $1,035/mo |
Illinois offers several significant exemptions: the General Homestead Exemption ($6,000 reduction in EAV), Senior Citizens Homestead Exemption ($5,000 additional), Senior Citizens Assessment Freeze, and Disabled Veterans exemptions. These can meaningfully reduce bills.
Cook County property taxes are due in two installments, typically March 1 and August 1. Other counties set their own schedules.
Lake County has the highest effective rates in Illinois (around 2.50%). The state's pension funding crisis and reliance on property taxes to fund schools creates persistent upward pressure on rates across the state.