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.
Getting property Taxes in Illinois: Rates, Exemptions, and How They Work (2026) right makes a difference. Getting property Taxes in Illinois: Rates, Exemptions, and How They Work (2026) right makes a difference.
If you qualify for multiple exemptions, apply for all of them. In most jurisdictions, exemptions stack. A senior homeowner who is also a veteran can often claim both exemptions simultaneously, doubling the savings.
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).
Do not assume you are automatically enrolled. Most exemptions require an application, and many homeowners lose years of savings simply because they never filed. Contact your county assessor's office or check their website for the application form. Bring proof of eligibility (age verification, disability documentation, veteran status, etc.) and file well before the deadline.
If you qualify for multiple exemptions, apply for all of them. In most jurisdictions, exemptions stack. A senior homeowner who is also a veteran can often claim both exemptions simultaneously, doubling the savings.
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.
Even if you are appealing your assessment, you typically must pay your tax bill on time. Failing to pay while appealing can trigger penalties and interest charges that offset any savings from a successful appeal. Pay the amount due, and if your appeal succeeds, you will receive a refund or credit for the overpayment.
If paying the full amount creates a hardship, check whether your jurisdiction offers installment plans or partial payment options. Some counties allow you to pay the undisputed portion while your appeal is pending.
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.
The appeal process is designed to be accessible to regular homeowners, not just attorneys and tax professionals. You do not need to hire anyone to file. The key is preparation. Gather your evidence before the hearing, organize it clearly, and practice presenting your case in under 10 minutes. Lead with comparable sales, then cover any property record errors, and finish with photos or documentation of condition issues.
Keep your tone professional and factual. Review boards respond to evidence, not complaints. If you walk in with 3 strong comparable sales and a calm, organized presentation, you are already ahead of most appellants.
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.
Property record errors are surprisingly common. The most frequent mistakes include incorrect square footage, wrong number of bedrooms or bathrooms, a finished basement listed when yours is unfinished, or an extra garage bay that does not exist. Each of these inflates your assessed value and your tax bill.
To check for errors, request your property record card from the assessor's office. Walk through your home with the card in hand and compare every line item. If anything is wrong, document the correction with measurements, photos, or building permits. Presenting a clear error to the review board is often the fastest path to a reduced assessment.
Your Next Steps
Here is exactly what to do this week to start lowering your Illinois property taxes:
- Pull your property record card. Contact your county assessor's office or check their website. Compare every detail to your actual property. Flag anything that looks wrong.
- Check recent sales in your neighborhood. Look up 3 to 5 homes similar to yours that sold in the past 12 months. If they sold for less than your assessed value, you have a case.
- File for any exemptions you have not claimed. If you are a senior, veteran, or disabled homeowner in Illinois, there may be exemptions saving you hundreds or thousands per year that you have not applied for yet.
- Mark your appeal deadline. Find the date on your most recent assessment notice and set a reminder for two weeks before. Do not let the deadline pass without acting.
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Frequently Asked Questions
How are property taxes calculated in Illinois?
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 taxes are distributed fairly.
What is the property assessment process 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 property tax exemptions are available in Illinois?
EAV = Equalized Assessed Value (assessed value times the equalization factor).
Why are Illinois property tax rates so high?
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.
When are properties reassessed in Illinois?
Cook County reassesses property every 3 years on a rotating basis by township.
Can I appeal my Illinois property tax 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 money.