Illinois has the second-highest effective property tax rate in the U.S. (behind only New Jersey), and consistently comes in at roughly double the ~0.99% national average. Figures vary slightly by methodology/year: WalletHub's 2025 ranking puts Illinois at 2.07% (some WalletHub citations show 2.01%), while the Tax Foundation's 2026 report shows 1.88% effective rate on owner-occupied housing value. Illinois Policy Institute, using WalletHub data, states Illinois families pay 2.07% versus the national average — more than double what a typical American family pays. Regionally, Cook County (Chicago) has seen especially sharp increases: the 2025 tax levy (billed in 2026) rose county-wide by 4.8% (nearly $19.2 billion total, up almost $871.8 million), well above the 3.5% inflation rate, driven by reassessments and a shift of tax burden from commercial to residential property. Chicago's median residential bill alone jumped 16.7% in this cycle — the largest one-year percentage increase for the city in at least 30 years.
Example: Statewide: WalletHub's analysis shows Illinois families paying about $6,285/year in property taxes on the average U.S. home value ($303,400 for 2025), versus a $2,969 national average for the same home value — more than double. On Illinois's own state median home value (~$263,300 per WalletHub's methodology), annual taxes come out to roughly $5,298. Cook County specific: the median annual property tax bill is $6,349 on a median home value of $335,800 (per SmartAsset/county data); within the City of Chicago specifically, the median residential tax bill for the 2025 tax year (billed 2026) is $4,457, up 16.7% from the prior year.
Figures vary somewhat by source/methodology (WalletHub 2.01-2.07% vs. Tax Foundation 1.88%; different median home values used), so I've cited a range with sources rather than a single invented number — always check the specific county assessor (e.g., Cook County Assessor's Office) for exact local rates and exemption amounts, since Cook County applies some exemptions differently (e.g., a higher General Homestead cap up to $10,000 for long-time occupants) than downstate counties, and actual bills depend heavily on local tax rates set by overlapping taxing districts (schools, municipalities, parks, etc.), not just the state exemption framework.
Facts on this page reflect research current as of 2026-07-05. Programs, rates, and laws change — confirm current figures with the relevant state agency before relying on them.