Illinois

Illinois has an effective property tax rate of 2.07%, with a median annual property tax of $5,100. Properties are assessed at 33.33% of market value and reassessed every 4 years (every 3 years in cook county; triennial reassessment by township). Payments are due semi-annual.

Effective Rate

2.07%

Assessment Ratio

33.3%

Median Annual Tax

$5,100

Payment Frequency

Semi-Annual

Appeal Deadline

Within 30 days of assessment notice to Board of Review; Cook County has separate schedule per township

Due Dates

Varies by county; Cook County: March and December; most other counties: June and September

Reassessment Cycle

Every 4 years (every 3 years in Cook County; triennial reassessment by township)

Homestead Exception

$10,000 reduction in EAV (Cook County); $6,000 in all other counties. Senior freeze for those 65+ with income under $65,000.

Key Notes

Second highest effective rate in the US. Assessment at 33.33% of fair market value (1/3). Cook County uses different classification system. Heavy reliance on property tax to fund schools and local government. Tax cap (PTELL) limits levy increases.

Late Penalty

1.5% per month (18% annually) on delinquent taxes

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