Illinois Has Highest Real Estate Taxes

That’s what the Chicago Tribune is reporting a California company finds.

Illinois has the highest median property tax rate in the nation, with various agencies and entities taking a combined 2.67 percent bite, according to a CoreLogic analysis of real estate property taxes nationwide.

Nationally, the median property tax rate is 1.31 percent, said the Irvine, Calif.-based data provider to financial services and real estate companies. That means that a home valued at $200,000 will, on average, pay annual total property taxes of $2,620.

In Illinois, that homeowner would pay $5,340…

After Illinois, the states with the highest median property tax rates are: New York, 2.53 percent; New Hampshire, 2.4 percent; and New Jersey, 2.37 percent.

Divide your property tax bill by what you could sell your home for and tell us in the comment section what your percentage is.


Illinois Has Highest Real Estate Taxes — 32 Comments

  1. 3.4% here.

    Guessing the statewide average is significantly impacted by the relativley low property tax paid in the city of Chicago.

  2. Anyone have an annual property tax payment that exceeds the annual mortgage payment.

  3. Yeah 4.6% here!

    It’s ridiculous but no wonder why there’s a mass exodus and every other person we know is on the 3, 5, 7 yr plan to escape!

  4. Illinois leads with highest property taxes and the most underfunded pensions.

    Plenty plenty of local police and fire pensions are vastly underfunded.

    Each pension is contractual and cannot be diminished or impaired per one dysfunctional sentence added to the state constitution on December 15, 1970, which allows unlimited salary and benefit hikes resulting in unlimited pension hikes irregardless if pension hikes were unfunded or underfunded, irregardless if pension systems were already underfunded.

    Have yet to see for just Illinois much less nationwide a comprehensive list of the funding status of all local retiree healthcare plans.

    Add on lots of local bond debt.

    Factor in a Democratic Super Majority with Democrat State Representative Jack Franks voting for and aligning with Michael Madigan, calling Bruce Rauner attempts to reform Illinois government, union busting.

    Never mind a lot of the union friendly laws and collective bargaining agreements passed over the years are busting the public.


    Icing on the cake.

    The administration and union each has a change document listing additions and deletions in the newly negotiated collective bargaining agreement.

    The change document is kept secret during negotiations and after negotiations.

    Contrast that to the Illinois General Assembly.

    In the ILGA, legislation changes are marked underline for additions and strike through for deletion.

    Thus, the ILGA legislative process is more transparent than the collective bargaining process.


    And we see the result in hiked pay, which results in hiked pensions and hiked taxes, when the public has no good way to analyze collective bargaining agreements.

  5. Danger Zone.

    Does the mortgage balance exceed the fair cash value of the house.

  6. yes,tax bill exceeds mortgage payment sad but still sticking to a 5 yr exit plan!

  7. Doesn’t this property tax issue come close to taxation without representation?

  8. 4.6% property tax rate in Woodstock.

    And every taxing body feels it their sacred mission to spend more and more property tax funding.

    MCC, MCCD, Valley Hi, and of course local schools.

    How do we get through to the humans on these boards that we are in crisis, and that their business as usual is destroying human lives?

  9. We only have ourselves to blame for OUR property taxes.

    We, not all of us, because only 15% (avg) vote in the collar counties elect the same people to the property taxing entities (townships, villages, county board, park districts, libraries, school board).

    Then to add insult to injury, we don’t hold anyone accountable as hearing and board rooms are empty month after month.

    However, we sure do love to bitch about property taxes when we have a say.

    My guess is those who have an exit strategy will do the same thing in their new domain and decades from now, will be crying or there descendants will be cryng about out of control property taxes.

  10. I sold my house in unincorporated Cary closed December 21, 2015 for $295,000.00, property tax was $7,600.00, 2.57%

    Most people still are thinking the value of their house is still higher than what it would sell for now.

    Think at least a third less than what you’d like to get and you’ll be close to present market value.

    Although prices have been on the up tick lately.

  11. Something needs to be done about salaries, current benefits, pensions, and retiree healthcare, not to mention reign in bond issues.

    Here is a snippet from a recent article about just public sector pensions in the United States.


    Breaking Views – Agenda Setting Financial Insight

    by Edward Chancellor

    April 15, 2016

    “For instance, the current deficits of U.S. corporate “defined benefit” pension plans are estimated at around $425 billion, by Citigroup.

    UK and European corporate pension plans also sport large deficits.

    The aggregate shortfall of American public-sector pension plans – state and local government – is somewhere between $1 trillion and $2 trillion, according to Citi.”

  12. Woodstock tax rate is 4.6% of total fair market value (that is: 1/3 of 13.8% of Equalized Assessed Value(EAV)).

    Assessed value is very subjective, and as Nob points out, perceived values are higher than what a willing buyer will pay for a house in an open market sale with a 4.6%…and rising steadily…annual property tax burden.

    We know that some homes have been chronically under-assessed, former County Board member Nick Chirikos is the perfect example when he famously declared that property taxes were not too high in McHenry County (because HIS property taxes were artificially low due to under assessment).

  13. Let’s not forget the fleecing by our local gov. to meet their needs, even when faced with the additional taxes you all are going to be paying soon enough you all Do Nothing!

    you all must like bending over!

    as the band plays on…

    So stop your whining when you can do something, could have- should have!

  14. If you want to reduce your property tax bill, you need to start with the largest taxing bodies, the school districts.

    Call your legislator now and request that House Bill 5529 be voted down.

  15. I wish mine were at the average for the state.

    I have 4.3%, 3.8% & 3.7%

    Yes the exit plan is becoming more of a reality.

    Tax people, especially seniors right out of their homes

  16. My guess is that only in unincorporated areas would 74% of one’s tax bill go to schools.

  17. 2005 at high point in home prices, I sold my Cary Fox river front house for $405,000.00, taxes were just over $8000.00,

    2% about.

  18. Expecting about 3.1% with new assessment.

    Unincorporated Nunda.

    Unfortunately, the higher property tax rate is in no way mitigated by the more reasonable income tax rate (compared to other states.)


    This is where you find your (2014) true tax rate.

    You have to look on your tax bill and find your tax code.

    The tax rate listed is rate charged on full EAV.

    Divide by 3 to get true tax rate on full fair market value of home.

    The large majority range of tax rates runs from about 10% on the low side to 14% on the high side.

    That is, 3.33% -4.7% tax rate.

    To quantify the homestead exemption: $6000 multiplied by the tax rate.

    For example, homestead exemption is worth $600 in a 10% (of EAV) tax rate district, and $840 in a 14% tax rate district.

    The reason true tax rate matters more than what a homeowner perceives as the tax rate indicated by the predicted value of the home and including homestead exemption is this:

    We have become a sinkhole of value for property due to the anomalous high tax rate.

    Property owners cannot count on a homeowner (homestead exemptions are only available to owner-occupants) coming along to buy their home when they need to sell it.

  20. Cal: Your guess would be WRONG, unfortunately.

    I have the stats for DuPage County in front of me right now, and the schools are getting an average of 73.25% of every tax dollar across the board.

    Looking at Lake and McHenry County stats next…

  21. Are you including junior college costs or just k-12?

    I was thinking of k-12.

  22. Cal: I’m including K-12 and Community Colleges.

    Considering what COD was up to in DuPage County, I lump all of our “education” establishment into the same thieving bucket…

  23. Based on 2015 property taxes and just received real estate appraisal, my percentage for McHenry County is a staggering 4.54%!!!!!!!!!!!

    Who will have the courage to stop these insane taxing bodies?

    We are now forced to sell due to fixed income.

  24. No kidding, Frank.

    That’s what we have been trying to drill home to these oligarchs.

    I’ve been priced out of my golden retirement days, also.

  25. I don’t live in McHenry county, but we have the same problem in Dupage county.

    We live in Naperville, IL. in Dupage county.

    Contrary to a lot of opinions, everyone in Naperville is not rich.

    My wife and I are both in our 70’s and retired at age 65 & 66 respectively.

    We did receive some inheritance shortly after retirement which allowed us to pay off our mortgage.

    We thought we were ‘home free’ since we no longer had a mortgage.

    Today, we are borrowing from our insurance policies and robbing our 401-k’s to pay our real estate taxes.

    WE have both lived in Illinois all our lives (except for one year) due to a job transfer.

    WE are now joining thousands of other people who live in Illinois who have decided to move to a different state.

    We recently looked at carpeting to prepare our home to sell.

    The manager of the carpeting store told us he has had many other people who are doing the same thing (moving out of state). Why is it that our elected officials do not see (or don’t want to see) what is going on.

    The one year we lived out of state was in California (1979).

    They had just passed proposition 13, which completely change how real estate taxes were calculated.

    Had this not of happened, we would not have moved to California, due to the higher cost of a home.

    It’s time for people who are stuck living in Illinois (job, etc:), To rise up,and do something about the ridiculous tax system in Illinois.

    I don’t know where we are moving to yet, but at least we will be OUT of Illinois!

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