What is the Property Tax Rate in Illinois?
Based on HomeLight’s analysis of publicly available data, the average effective property tax rate for a primary residence in Illinois is approximately 2.11% of its estimated value. This is higher than the national average of 0.90%.
For example, with a 2.11% effective tax rate, a homeowner with a $325,000 home might pay around $6,857 in annual property taxes.
An effective property tax rate represents the actual percentage of a property’s market value that a homeowner pays in taxes, considering the assessed value and any exemptions or deductions.
Note: HomeLight’s Illinois property tax calculator provides a ballpark estimate for a primary residence using average rates. Your tax can vary based on location and the specific taxing districts (e.g., schools, fire districts, and libraries) that apply to your parcel. For a precise number, contact the Illinois Department of Revenue.
Step One: Consult with a Trusted Buyer's Agent
Tell us a little bit about your plans (where you’re looking to buy and when you want to make a purchase), and we’ll connect you with top-rated buyer’s agents in your area. It takes only a few minutes, and it’s free.
Are There Property Tax Exemptions in Illinois?
Homeowners in Illinois may qualify for several property tax exemptions that can lower their tax bill. Depending on your location, these are offered through the Illinois Department of Revenue. Common exemptions include:
- General homestead exemption: For owner-occupied primary residence. Reduces the equalized assessed value (EAV) by up to $10,000, depending on the county
- Over-65 exemption: Up to $8,000 EAV reduction depending on the county
- Disabled individual exemption: Up to $2,000 EAV reduction for persons with disabilities
If you’re buying a home in Illinois, note that property tax exemptions do not automatically transfer from the previous owner. After the home changes hands, you’ll need to reapply based on your own eligibility.
When Are Illinois Property Taxes Due?
Property taxes in Illinois are billed biannually:
- June 1: First installment
- June 2: Second installment
What Do Property Taxes Pay For in Illinois?
Local property taxes in Illinois pay for important local services, including:
- Public schools
- Police, fire, and EMS services
- Roads, streets, and traffic signals
- Parks, libraries, and community centers
- City and county government operations
- Infrastructure like water, sewer, and trash services
- Repayment of local bond projects (such as transit and school improvements)
Yes, You Can Buy Before You Sell. Why Move Twice?
Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.
What Does It Cost to Buy a Home in Illinois?
How Much House Can You Afford?
Affordability in Illinois depends on your income, debt, credit score, and mortgage rate. With a median household income of around $87,820 in Illinois, a buyer might afford a home in the $285,000-$320,000 range using standard debt-to-income guidelines. However, with the Illinois median home price coming in at $325,000, many buyers need dual incomes or additional savings to qualify.
Use HomeLight’s Home Affordability Calculator to estimate your budget based on your income, debts, and current rates.
What Down Payment Will You Need in Illinois?
According to Nerdwallet, the average down payment on a house in Illinois is 14%. However, down payment amounts vary widely depending on loan type and credit score. While 20% used to be the expected standard, many buyers put down between 5% and 15%, with 3% options available for FHA and some conventional first-time buyer loans.
For a $325,000 home, here’s what your down payment could look like:
- 3% down = $9,750
- 5% down = $16,250
- 10% down = $32,500
- 15% down = $48,750
- 20% down = $65,000
Try HomeLight’s Down Payment Calculator to see how different down payments affect your monthly payment and loan size.
How Much Are Closing Costs in Illinois?
Buyers in Illinois can expect to pay about 7% of the purchase price in closing costs. These may include:
- Loan origination and underwriting fees
- Title insurance and escrow fees
- Appraisal and inspection costs
- Prepaid property taxes and homeowners’ insurance
- Filing and recording fees
For a $325,000 home, that means estimated closing costs of $6,500 to $16,250. Use HomeLight’s Illinois Closing Costs Calculator to get a personalized estimate based on your expected Illinois home purchase price.
How To Find a Trusted Illinois Real Estate Agent
An experienced Illinois agent can help you understand local tax rates, school districts, and development trends — and guide you toward neighborhoods that fit your lifestyle and budget.
HomeLight’s free Agent Match tool uses data from over 27 million transactions and thousands of verified reviews to match you with top Illinois agents based on proven performance. Tell us a little about your buying plans and get matched today with no obligation.
Additional resources when searching for a trusted buyer’s agent in Illinois:
Buying and Selling? Consider “Buy Before You Sell”
If you’re buying a new home in Illinois but need to sell your current property first, HomeLight’s Buy Before You Sell program can simplify the entire process. This modern solution helps you unlock equity from your current home so you can make a non-contingent offer on your new home — and only move once. Watch the short video below to see how it works.