The rate in context
On a $400,000 home, 1.88% means roughly $7,520 per year in property tax, escrowed monthly, so it lands directly in your payment and your debt-to-income ratio.
Exemptions and notes
No statewide cap on assessment growth; Cook County reassesses on a triennial cycle. Heavy reliance on local levies to fund schools drives one of the nation's highest effective rates.
Sources: Tax Foundation 2026 (2024 ACS); IL Dept. of Revenue; Chicago RPTT. County-level rates vary; your county page has local detail.
Counties in Illinois
FAQ
What is the average property tax rate in Illinois?
The average effective property tax rate in Illinois is about 1.88%, per Tax Foundation 2026 (2024 ACS); IL Dept. of Revenue; Chicago RPTT. Individual counties vary above and below that average.
How do Illinois property taxes affect my mortgage?
Taxes are escrowed into your monthly payment, so a higher rate directly reduces how much house you qualify for. No statewide cap on assessment growth; Cook County reassesses on a triennial cycle. Heavy reliance on local levies to fund schools drives one of the nation's highest effective rates.