2026 effective rate · 1.97% · well above the US average (0.99%)
Illinois Property Tax Calculator
Estimate annual and monthly property tax in Illinois. The state's effective property tax rate is 1.97% (among the highest in the US, vs the US average of about 0.99%). On a $240,100 median-value home, that works out to about $4,942 per year or $394 per month.
Illinois median home property tax
$4,730 per year
$394 per month at the median home value of $240,100
Effective rate 1.97% times $240,100 = $4,730
Illinois property tax at common home values
| Home value | Annual property tax | Monthly | % of value |
|---|---|---|---|
| $150,000 | $2,955 | $246 | 1.97% |
| $240,100 (median) | $4,730 | $394 | 1.97% |
| $250,000 | $4,925 | $410 | 1.97% |
| $350,000 | $6,895 | $575 | 1.97% |
| $500,000 | $9,850 | $821 | 1.97% |
| $750,000 | $14,775 | $1,231 | 1.97% |
Uses Illinois's 2026 effective rate (1.97%). Actual taxes vary by county and exemptions. For full PITI mortgage estimate including taxes + insurance, use the Illinois mortgage calculator.
Illinois property tax overview
Illinois has the 2nd-highest effective property tax rate (1.97%). Cook County (Chicago) homestead exemption is $10,000 plus additional senior and disability exemptions. Property tax bills are paid in arrears (one year behind).
Illinois's effective rate of 1.97% ranks among the highest in the US nationally. Median annual property tax: $4,942. Median home value: $240,100.
Illinois vs neighboring states
FAQs about Illinois property tax
What is the property tax rate in Illinois?
Illinois's effective property tax rate is 1.97% (among the highest in the US, vs national average of ~0.99%). On a $240,100 median-value home, that's about $4,942 per year, or roughly $394 per month added to your housing cost.
How is property tax calculated in Illinois?
Property tax = assessed value times the local mill rate (millage). The effective rate (1.97%) is what you actually pay as a percentage of market value, accounting for assessment ratios, exemptions, and millage. For a home valued at X, multiply X by 1.97% for an annual estimate.
When are property taxes due in Illinois?
Property tax due dates vary by county within Illinois. Most counties bill annually with either a single payment or two installments. Common payment deadlines fall in late summer (1st half) and late winter (2nd half). Check with your county tax assessor for exact dates and any escrow arrangements through your mortgage lender.
Does Illinois have a homestead exemption?
Illinois has the 2nd-highest effective property tax rate (1.97%). Cook County (Chicago) homestead exemption is $10,000 plus additional senior and disability exemptions. Property tax bills are paid in arrears (one year behind).
How does Illinois property tax compare to neighboring states?
Illinois's 1.97% rate compares to: Wisconsin (1.63%), Iowa (1.40%), Missouri (0.88%). Property tax burden can vary significantly between neighboring states — moving 30 miles across a state line can change your annual tax bill by thousands.
Can I appeal my property tax assessment in Illinois?
Yes. Every US state including Illinois provides a formal property tax appeal process. Steps: (1) request your property's assessment record from the county assessor, (2) gather comparable sales from your neighborhood, (3) file a formal appeal within the deadline (usually 30-60 days after assessment notice). Successful appeals typically save 5-15% on annual tax bills.
How can I lower my Illinois property taxes?
Common strategies: apply for homestead exemption (primary residence), senior or disabled exemptions if eligible, veteran's exemptions, and appeal over-assessment. Track your county's assessment notices carefully and verify the appraisal matches recent comparable home sales. Avoid major visible upgrades right before reassessment dates.