By: Nick Binotti
Another tax study, another loss for Illinois taxpayers.
Illinois again has the highest effective property tax rate in the nation.
Not only that, five of the top 10 metro areas with the highest property tax rates in the nation are in Illinois: Rockford, Champaign-Urbana, Peoria, Springfield, and Chicago. That’s according to a study done by ATTOM Data Solutions, a company that provides comprehensive data on property values and taxes across the nation.
Illinois’ 2023 effective property tax rate – taxes paid as a share of median home value – is 1.88 percent, highest in the nation and up from 1.78 percent the prior year. New Jersey, the state that competes yearly with Illinois for highest property taxes, came in second worst at 1.64 percent. Connecticut at 1.54 percent, New York at 1.46 percent, and Nebraska at 1.46 percent round out the top five.
Of the states that border Illinois, Iowa comes closest at 1.25 percent – still way below Illinois’ rate. And tax rates in Missouri, Indiana and Kentucky are way lower, all around 0.80 percent.
And the story for the metro areas is just as bad.
Rockford has the 2nd-highest effective property tax rate of all metro areas nationally at 2.41%. It is one of only two metro areas in the country with rates above 2 percent.
Champaign-Urbana has the third-highest rate nationally at 1.95 percent. Peoria and Springfield are fifth and sixth worst with rates of 1.9 percent. The Chicago metro area comes in eighth worst with a rate of 1.84 percent.
Gov. Pritzker promised property tax relief in his 2020 State of the State speech. He even created a task force to make tax cut proposals. It never delivered a final report and the governor never delivered relief.
Illinoisans are waiting. Well, those that haven’t left yet.
Read more from Wirepoints:
- Suppose they held an election and nobody showed up? In Illinois, we’re getting there.
- Chicago Public Schools’ sexual abuse and misconduct cases everyone should know about
- A Spring Break drive to Florida offers yearly reminder of just how unfair Illinois gas prices are
- Pace of electric vehicle adoption must quadruple to reach Illinois goal
- The monopoly of failing public schools tightens in Joliet
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
When I lived in McHenry Co, my RE taxes were 3.76%. When I moved to Cook County, they decreased to 1.22%. They currently are 2.18%. If I utilize our Homeowner and Senior exemptions, it drops to 1.6%.
Livable to me.
As taxes go up, we are going to have to down size or move away from our family as people will not be able to afford to live here in retirement. Just doesn’t work.
Pull yourself up by your boot straps and lay off the avocado toast. Perhaps get a second job and learn to code.
Learn to get your lips off of Rich Miller’s fat, hairy ass.
Thanks – Bill. You are sounding more and more like a conservative everyday. Thanks so much for the note, but, nah, I think we will just give up the Illinois Residence and move to the Telluride or Maui properties. Hope all is well with you.
You won’t be able to afford to live here in retirement but you’ll leave for your Maui or Telluride properties? So were you lying earlier or with your most recent post? Pointy wire wackos sure do love to lie.
Wacko is certainly a good word.
Moved away from Silly-nois seven years ago now and banked the money I used to pay in property taxes in Du Page and Will County. Our current house in our new home state is more square footage, on a bigger lot, for 1/4 the property taxes of our last house in Will County.
The longer you stay, sadly, the less money you will get when you do sell. Been there, done that, got a heck of an ugly haircut.
Just more proof that Illinois Dems view YOUR stuff as THEIR stuff like the good little Communists that they are. Get in line comrades. Or else.
Feeling like you are being gouged? Well you should.
Where is all this money going?
So what is wrong with having to work until March or April to be able to pay your real estate tax?? Illinois residents are nothing more than tax mules and political serfs. ” Oh ye suckers”
Check the effective rate in Lake County Many areas are over 3% some close to5%. The taxes are crushing home values magnifying the problem causing a death spiral. Meanwhile, for all the taxes educational quality continues to decline, crime is out of control, and the answer to traffic congestion is “figure out how to eliminate cars”. The progressive social experiment is a disaster for any one with income or assets. The first job of government is public safety. Illinois- failure The second job of government is infrastructure- water, sewer, roads, gas, electricity…. Illinois- failure, again. Next up is education. Outside… Read more »
Have you compared the cost of public schools K-12 vs the private schools in you area? You can easily find the tuition rates for private on their websites. Here in Rockford most private costs are under $8K depending on grade vs over $17K+ for public.
The values of clergy and those in their employ are quite different than those of the public at large, don’t you think? What one set has as motivating values isn’t necessarily the same for the other. To the extent that seeking material comfort is a motivator you’ll find less of it in those who seek where a church is the employer. You can’t compare what motivates monks vs. coal miners, for example. Its no surprise that monks likely cost less to employ.
Woodstock IL homes must pay over 3% of full fair market home value in property taxes (has been the case for decades). Over 30 years, the value of the Collar County/Rockford Illinois home will depreciate relative to homes everywhere in America more than 81% (that is: the property tax rate differential of 2%, taken to the power of 30). Another aspect to look at is percentage of household income demanded in property taxes. According to BLS, all over America– across all income quartiles and even regionally– the percentage of hh income spent on property taxes is below 4%. When HH… Read more »
I pay 0.55% in Littleton, CO, is Champaign K-12 education 4 times better than Littleton? Nyet!!
IMO this is what happens in a state when a single political party has almost total control.
Also, Illinois Dem party is basically owned by the Illinois public sector unions.
Aurora has been lumped into the Chicago metro area, if it was split out : Aurora would be the highest taxed city in Illinois.
That ‘green’ paver parking lot at city hall must have cost millions, it probably cost 20x what a normal parking lot would have cost.
You are correct, very suspicious of kickbacks on that one.
Not only do we pay the highest rates, the taxpaying citizen has the least to show for it: think educational achievement or public safety for example…..
Pritzker lied to Illinois residents, and that’s no surprise. Equally unsurprising but more disturbing is that the so called journalists in Illinois refuse to call him out for it. The journalists wonder why people don’t read the papers or watch the news anymore, when all they need to do is look in the mirror to know why that is.
Pritzker’s campaign promise of property tax relief went the same way as his promise for fair maps – down the drain. The legacy media in IL has worked hard to memory hole both of those key campaign promises.