Property Taxes in Illinois: Rates, Exemptions, and How They Work (2026)
TL;DR
Illinois has the second-highest effective property tax rate in the nation at approximately 2.07%. Property is assessed at 33.33% of market value (10% in Cook County for residential). The state equalization factor adjusts local assessments to ensure they meet the legal standard. Multiple exemptions are available, including a $10,000 homeowner exemption and a senior freeze. Appeals go through the county Board of Review, with further appeals to the Property Tax Appeal Board (PTAB) or circuit court.
Assessment in Illinois
Illinois assesses property at 33.33% of fair market value in most counties. Cook County (Chicago) is different, using its own classification system:
| County | Property Type | Assessment Level |
|---|---|---|
| Non-Cook counties | All property | 33.33% of market value |
| Cook County | Residential (1-6 units) | 10% of market value |
| Cook County | Commercial/industrial | 25% of market value |
The Equalization Factor (Multiplier)
The Illinois Department of Revenue publishes an annual equalization factor for each county. This multiplier adjusts local assessments to bring them to the statutory level of 33.33% of market value. If a county is under-assessing property, the multiplier pushes values up. If over-assessing, it brings them down.
Cook County's multiplier has historically been above 2.0, meaning assessed values are multiplied by more than 2 to reach the equalized level. This multiplier can significantly affect your tax bill.
Exemptions
| Exemption | Amount | Who Qualifies |
|---|---|---|
| General Homestead | $10,000 off EAV ($10,000 Cook County) | Owner-occupied primary residence |
| Senior Homestead | $8,000 off EAV | Homeowners 65+ |
| Senior Freeze | Freezes EAV at base year level | Seniors 65+ with household income under ~$65,000 |
| Disabled Persons | $2,000 off EAV | Disabled homeowners |
| Disabled Veterans | $2,500-$5,000 or full exemption | Veterans with 30%+ disability (100% for total disability) |
| Returning Veterans | $5,000 off EAV | Veterans returning from active duty (2 years) |
| Home Improvement | Up to $75,000 in improvements exempt for 4 years | Homeowners who make qualifying improvements |
EAV = Equalized Assessed Value (assessed value times the equalization factor).
Tax Rate and Bills
Illinois property tax rates are expressed per $100 of EAV. Combined rates from all taxing districts commonly total $7-$14 per $100 of EAV. In some Chicago suburbs, combined rates exceed $10 per $100.
Tax bills in Illinois are typically mailed in the spring and due in two installments (June and September in most counties, though dates vary). Late payments accrue 1.5% interest per month.
Appeal Process
Cook County
- Assessor's Office: File during your township's 30-day appeal window after reassessment
- Board of Review: File after the Assessor's revision, another 30-day window
- PTAB or Circuit Court: Appeal the Board of Review decision within 30 days
Cook County reassesses property every 3 years on a rotating basis by township.
Non-Cook Counties
- Board of Review: File a complaint within 30 days of the publication of the assessment roll
- PTAB: File within 30 days of the Board of Review decision
Evidence should include comparable sales, property condition documentation, and any independent appraisals.
Check Your Illinois Assessment
With Illinois property tax rates among the highest in the nation, an over-assessment costs you more here than almost anywhere else. Use our free property tax analyzer to check whether your assessed value is accurate. A successful appeal could save you hundreds or thousands per year.
Frequently Asked Questions
What should I know about property taxes in illinois: rates, exemptions, and how they work (2026)?
Illinois has the second-highest effective property tax rate in the nation at approximately 2.07%. Property is assessed at 33.33% of market value (10% in Cook County for residential). The state equalization factor adjusts local assessments to ensure they meet the legal standard.
What should I know about assessment in illinois?
Illinois assesses property at 33.33% of fair market value in most counties. Cook County (Chicago) is different, using its own classification system:
What should I know about exemptions?
EAV = Equalized Assessed Value (assessed value times the equalization factor).
What should I know about tax rate and bills?
Illinois property tax rates are expressed per $100 of EAV. Combined rates from all taxing districts commonly total $7-$14 per $100 of EAV. In some Chicago suburbs, combined rates exceed $10 per $100.
What is the process for appeal process?
Cook County reassesses property every 3 years on a rotating basis by township.
What should I know about check your illinois assessment?
With Illinois property tax rates among the highest in the nation, an over-assessment costs you more here than almost anywhere else. Use our free property tax analyzer to check whether your assessed value is accurate. A successful appeal could save you hundreds or thousands per year.