Edison Park’s effective property tax rate, in Chicago, went up from 1.7% in 2016 to 1.9% in 2025. That marks a 0.2 percentage-point increase over 10 years, according to BlockShopper.com.
Citywide, Chicago’s average effective property tax rate was 1.4% in 2025, holding steady compared with 2016. The 2025 rate in Edison Park exceeded the city average.
Of all Chicago neighborhoods analyzed, Edison Park recorded the 10th smallest increase in effective property tax rates during that period among the 110 neighborhoods studied.
For 2025, Edison Park’s 1.9% rate placed it 21st among Chicago neighborhoods for current effective property tax rates.
That figure is 2.1 times greater than the average U.S. effective property tax rate of 0.888% in 2024.
The national median home price continued trending upward in 2025, reaching approximately $447,000 in June, Redfin reports. This reflects a 1.13% rise over the prior year. Redfin’s data also point to a notable demand-supply gap, with 36% more sellers versus buyers—a difference of 508,715 homes. By the company’s definition, a balanced market is when seller and buyer counts are within 10% of one another.
Even if tax rates fall or hold steady, increases in property values can lead to higher tax bills for homeowners, because property taxes depend on both the tax rate and the appraised value. Higher home values broaden the tax base, increasing what residents owe even when tax rates drop. Data from the Lincoln Institute of Land Policy analysis show that in each state’s largest city, the median-valued home’s effective property tax rate declined by more than 5% from 2023 to 2024.
Simultaneously, rising home prices have boosted the tax base overall in many locations. As property taxes directly relate to market value, growing home prices mean owners often owe more even if rates drop or hold flat. Studies examining U.S. housing markets indicate that a 1% median home value increase roughly corresponds to a 0.71% dip in effective tax rates, showing robust price gains can actually reduce rates while still resulting in higher tax collections for governments.
| Year | Effective Property Tax Rate |
|---|---|
| 2025 | 1.9% |
| 2024 | 1.9% |
| 2023 | 1.9% |
| 2022 | 2% |
| 2021 | 1.8% |
| 2020 | 1.8% |
| 2019 | 1.9% |
| 2018 | 1.8% |
| 2017 | 1.8% |
| 2016 | 1.7% |
Information cited in this piece originates with BlockShopper.com. The source data are available here.
