Illinois Property Taxes

Average Tax Rate

2.23%

Rank

Population

12.6M

Owner Occupied Homes

3.4M

Median Home Value

$227,500

Estimated Revenue

$34.5B

Find Local Experts to Help Lower Your Property Tax

Illinois is home to Chicago, one of the largest cities in the U.S., and a key financial and cultural center. The state also has strong agricultural and manufacturing industries. With an effective property tax rate of 2.23%, Illinois ranks 2nd highest in the country. This contributes to the state's budget challenges but helps fund extensive public infrastructure.

Trends in Property Taxes in the United States

Property taxes are a crucial source of revenue for most local government entities. Shifting trends in market conditions, legislation, and the economy can have a big impact on both residential and commercial property owners.