Chicago City Wire

With second-installment property tax bills due in the coming months across Illinois, new data reveals a significant rise in these taxes.

An analysis by the Illinois Policy Institute shows that the typical Illinois homeowner paid approximately $5,055 in property taxes during 2022. This figure surpasses that of any other Midwestern state and is more than double the national average. Over a span of five years, this increase has cost the average homeowner an additional $756.

Even when combined, the property tax bills from Alabama, West Virginia, Arkansas, Louisiana, and South Carolina fall short of what Illinois' median homeowner pays. In Cook County, where bills average $5,941, homeowners face higher median property taxes than those in California's Orange, Los Angeles, and San Diego counties.

Property taxes have grown faster than inflation for homeowners in 61 out of Illinois' 102 counties. In border counties specifically, Illinois homeowners would save an average of about $1,595 on similarly valued homes if they moved to a neighboring state.

Notable increases in property taxes for 2022 include:

- Lake County had the state's highest median property tax at $8,609.

- DuPage County followed with a median tax of $7,646.

- Cook County was seventh with a median tax of $5,941.

- McHenry County's property taxes were higher than 98.7% of all U.S. counties.

- Hardin County experienced a 75% increase in its median property tax from 2018 to 2022.

- Monroe County homeowners paid $748 more compared to five years earlier.

Skyrocketing pension debt has significantly contributed to these rising taxes. Statewide pension spending has surged by 584% since 2000.

"The latest property tax data speaks to a financial hardship for countless Illinois homeowners and their families," said Bryce Hill, director of economic and fiscal policy at the Illinois Policy Institute. "These taxes make housing in Illinois unacceptably expensive for far too many residents. Lawmakers must immediately undertake comprehensive pension reform and curb property tax costs for the future. The current rates punish both homeowners and renters for choosing to live here."

To read more about Illinois’ burdensome property tax spikes – and how to address them – visit illin.is/proptax.