Homeowners in half of Illinois’ 102 counties saw their property taxes grow faster than inflation from 2018 to 2022. The median bill rose $756 in that time.
By Patrick Andriesen | Illinois Policy Institute
The typical Illinois homeowner is paying $756 more in property taxes than five years ago, and it’s not just inflation: half of Illinois’ 102 counties saw their bills rise faster than the cost of living.
Homeowners across 61 Illinois counties saw their property taxes grow faster than inflation from 2018 to 2022, with the worst-off homeowners seeing a 75% spike in the median property tax bill.
The biggest jump was for Lake County homeowners, where the median increased by $1,262. Tax hikes were less in rural counties, especially those farthest from Chicago.
Illinoisans already paid the second-highest property tax rate in the nation in 2022.
The typical Illinois homeowner paid about $5,055 in property taxes – more than homeowners in any other Midwest state and more than double the typical American homeowner’s $2,457 bill, according to the most recent census data for 2022. Illinois homeowners paid more in median property taxes in 2022 than the typical homeowner in Alabama, West Virginia, Arkansas, Louisiana and South Carolina – combined.
Census data also shows homeowners living in every one of Illinois’ border counties would see their property tax bills reduced by moving to a similar value home in a neighboring county across the state line. On average, these homeowners would have saved about $1,595 in property taxes in 2022.
In Illinois, a homeowner’s property tax bill is based on two factors: the assessed value of the property and the amount of revenue local taxing districts seek to raise.
Schools levy most of the property taxes – about two-thirds across Illinois. Illinois has nearly 7,000 local government units with the power to demand property taxes, far more than any other state.
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