Chicago, Illinois Property Taxes
The median property tax rate in Chicago, IL is 1.90%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Chicago, the typical annual property tax bill reaches $3,503, exceeding the national median of $2,690. Property taxes in Chicago are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chicago's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Chicago or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chicago, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
$3,552
$1,148
Average Chicago, Illinois Tax Savings
Ownwell’s Chicago Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chicago with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chicago to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Chicago. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Chicago, Illinois
Property taxes in Chicago, Illinois, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Chicago is 1.90%, significantly higher than the U.S. national median of 0.99%. Local government entities within Chicago set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chicago estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Chicago's effective property tax rate to other areas in Cook County and the national median. For comparison, the 60803 zip code has the highest median property tax rate of 2.52%, while the 60617 zip code has the lowest median tax rate of 1.47%. Understanding how these areas compare with Chicago provides valuable insights into the varying tax landscape across Cook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chicago Tax Rate
1.90%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chicago, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60068 | 1.04% | 1.40% | 2.01% | 2.01% | 2.01% |
| 60601 | 1.75% | 1.93% | 2.01% | 2.01% | 2.01% |
| 60602 | 1.75% | 2.01% | 2.01% | 2.01% | 2.01% |
| 60603 | 1.88% | 2.01% | 2.01% | 2.01% | 2.09% |
| 60604 | 1.83% | 2.01% | 2.01% | 2.01% | 2.01% |
| 60605 | 1.75% | 1.88% | 2.01% | 2.02% | 2.02% |
| 60606 | 1.77% | 1.92% | 2.02% | 2.13% | 2.33% |
| 60607 | 1.78% | 1.89% | 2.02% | 2.02% | 2.02% |
| 60608 | 1.47% | 1.74% | 1.92% | 2.02% | 2.02% |
| 60609 | 0.80% | 1.45% | 1.85% | 2.01% | 2.01% |
| 60610 | 1.70% | 1.87% | 2.01% | 2.01% | 2.06% |
| 60611 | 1.76% | 1.95% | 2.01% | 2.01% | 2.16% |
| 60612 | 1.57% | 1.78% | 2.01% | 2.02% | 2.02% |
| 60613 | 1.56% | 1.79% | 2.01% | 2.01% | 2.08% |
| 60614 | 1.75% | 1.89% | 2.01% | 2.01% | 2.03% |
| 60615 | 1.29% | 1.66% | 1.95% | 2.01% | 2.02% |
| 60616 | 1.62% | 1.81% | 2.01% | 2.02% | 2.02% |
| 60617 | 0.51% | 0.92% | 1.47% | 2.01% | 2.02% |
| 60618 | 1.64% | 1.83% | 1.93% | 2.02% | 2.07% |
| 60619 | 0.64% | 1.18% | 1.62% | 2.01% | 2.01% |
| 60620 | 0.36% | 1.01% | 1.56% | 2.01% | 2.02% |
| 60621 | 0.34% | 1.39% | 2.01% | 2.01% | 2.02% |
| 60622 | 1.80% | 1.88% | 2.01% | 2.01% | 2.07% |
| 60623 | 0.67% | 1.30% | 1.64% | 2.01% | 2.10% |
| 60624 | 0.75% | 1.17% | 1.93% | 2.02% | 2.02% |
| 60625 | 1.50% | 1.74% | 1.91% | 2.01% | 2.08% |
| 60626 | 1.40% | 1.62% | 1.98% | 2.01% | 2.01% |
| 60628 | 0.36% | 1.01% | 1.57% | 2.02% | 2.02% |
| 60629 | 0.95% | 1.53% | 1.64% | 1.72% | 2.01% |
| 60630 | 1.08% | 1.63% | 1.80% | 1.94% | 2.01% |
| 60631 | 1.21% | 1.67% | 1.82% | 1.92% | 2.01% |
| 60632 | 0.86% | 1.46% | 1.66% | 1.82% | 2.01% |
| 60633 | 0.80% | 1.35% | 1.68% | 2.74% | 5.38% |
| 60634 | 1.00% | 1.60% | 1.76% | 1.88% | 2.01% |
| 60636 | 0.25% | 0.86% | 2.01% | 2.01% | 2.01% |
| 60637 | 1.19% | 1.63% | 2.01% | 2.01% | 2.02% |
| 60638 | 0.83% | 1.52% | 1.71% | 2.01% | 2.01% |
| 60639 | 1.15% | 1.59% | 1.71% | 2.01% | 2.01% |
| 60640 | 1.49% | 1.74% | 2.01% | 2.01% | 2.08% |
| 60641 | 1.18% | 1.70% | 1.81% | 2.01% | 2.02% |
| 60642 | 1.80% | 1.87% | 2.01% | 2.01% | 2.11% |
| 60643 | 0.59% | 1.31% | 1.71% | 2.02% | 2.02% |
| 60644 | 0.46% | 1.12% | 1.66% | 2.01% | 2.01% |
| 60645 | 1.13% | 1.55% | 1.81% | 2.01% | 2.01% |
| 60646 | 1.48% | 1.77% | 1.86% | 1.96% | 2.02% |
| 60647 | 1.75% | 1.85% | 2.01% | 2.02% | 2.07% |
| 60649 | 0.79% | 1.41% | 2.01% | 2.01% | 2.01% |
| 60651 | 0.56% | 1.43% | 1.68% | 2.01% | 2.01% |
| 60652 | 0.94% | 1.54% | 1.65% | 1.73% | 2.03% |
| 60653 | 1.54% | 1.71% | 2.00% | 2.02% | 2.02% |
| 60654 | 1.81% | 1.97% | 2.01% | 2.01% | 2.02% |
| 60655 | 1.36% | 1.59% | 1.71% | 1.82% | 2.02% |
| 60656 | 1.01% | 1.56% | 1.79% | 2.01% | 2.01% |
| 60657 | 1.67% | 1.84% | 2.01% | 2.01% | 2.07% |
| 60659 | 1.17% | 1.62% | 1.85% | 2.01% | 2.02% |
| 60660 | 1.31% | 1.63% | 1.89% | 2.01% | 2.01% |
| 60661 | 1.79% | 1.94% | 2.02% | 2.02% | 2.02% |
| 60706 | 1.00% | 1.19% | 1.51% | 2.68% | 3.38% |
| 60707 | 1.12% | 1.58% | 1.72% | 1.88% | 2.01% |
| 60803 | 2.40% | 2.43% | 2.52% | 2.58% | 2.58% |
| 60827 | 0.78% | 1.72% | 2.02% | 2.02% | 2.18% |
Source: Ownwell
$1,148
Average Chicago Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Chicago, Illinois
In Chicago, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Cook County Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Chicago, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For example, the highest median tax bill in Chicago is $8,523 in the 60622 zip code, while the lowest median tax bill is $569 in the 60827 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chicago Assessed Value
$208,120
Average Cook County Assessed Value
$210,000
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chicago, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60068 | $100,000 | $167,500 | $280,000 | $285,000 | $288,000 |
| 60601 | $33,300 | $128,390 | $301,830 | $510,000 | $832,906 |
| 60602 | $50,000 | $60,000 | $70,000 | $406,880 | $925,592 |
| 60603 | $24,600 | $52,140 | $181,520 | $585,580 | $954,550 |
| 60604 | $17,000 | $20,000 | $220,000 | $480,000 | $750,000 |
| 60605 | $10,000 | $30,000 | $220,925 | $361,000 | $560,735 |
| 60606 | $32,290 | $52,410 | $225,000 | $356,355 | $494,970 |
| 60607 | $19,700 | $35,000 | $267,360 | $418,170 | $649,650 |
| 60608 | $19,380 | $167,520 | $260,000 | $340,010 | $490,000 |
| 60609 | $30,000 | $65,000 | $140,000 | $278,985 | $420,000 |
| 60610 | $21,710 | $130,315 | $252,300 | $445,920 | $760,000 |
| 60611 | $27,280 | $60,000 | $266,400 | $496,160 | $948,900 |
| 60612 | $24,170 | $141,710 | $230,000 | $373,080 | $590,000 |
| 60613 | $20,000 | $117,900 | $200,000 | $362,860 | $660,000 |
| 60614 | $25,760 | $200,310 | $420,000 | $720,000 | $1,309,320 |
| 60615 | $60,000 | $110,000 | $188,890 | $320,000 | $540,000 |
| 60616 | $10,010 | $30,000 | $220,000 | $340,000 | $460,000 |
| 60617 | $50,000 | $65,000 | $110,000 | $131,910 | $176,906 |
| 60618 | $95,010 | $250,000 | $425,750 | $580,000 | $878,580 |
| 60619 | $56,072 | $81,755 | $120,000 | $160,000 | $200,000 |
| 60620 | $60,000 | $80,000 | $130,000 | $150,000 | $170,000 |
| 60621 | $21,340 | $25,010 | $35,010 | $50,010 | $90,000 |
| 60622 | $50,400 | $301,190 | $444,735 | $646,620 | $936,190 |
| 60623 | $50,000 | $80,000 | $140,000 | $176,390 | $212,250 |
| 60624 | $45,000 | $58,010 | $80,000 | $140,010 | $199,232 |
| 60625 | $80,775 | $160,002 | $297,005 | $459,915 | $680,000 |
| 60626 | $45,000 | $110,010 | $160,000 | $240,000 | $370,000 |
| 60628 | $30,000 | $48,520 | $85,000 | $130,000 | $150,000 |
| 60629 | $120,000 | $150,000 | $170,000 | $190,000 | $210,000 |
| 60630 | $146,210 | $250,000 | $310,000 | $340,010 | $428,790 |
| 60631 | $152,090 | $288,505 | $350,000 | $440,000 | $517,128 |
| 60632 | $110,000 | $141,475 | $180,000 | $210,000 | $240,000 |
| 60633 | $50,840 | $80,000 | $100,000 | $140,000 | $150,492 |
| 60634 | $180,000 | $220,000 | $280,000 | $310,000 | $340,000 |
| 60636 | $25,000 | $31,980 | $40,000 | $65,000 | $90,000 |
| 60637 | $45,000 | $80,010 | $131,910 | $230,000 | $470,000 |
| 60638 | $130,000 | $190,490 | $220,000 | $240,000 | $279,328 |
| 60639 | $143,543 | $170,010 | $210,000 | $239,985 | $290,000 |
| 60640 | $15,000 | $105,600 | $210,000 | $330,000 | $500,000 |
| 60641 | $135,000 | $230,000 | $300,000 | $360,000 | $490,000 |
| 60642 | $24,400 | $251,835 | $395,470 | $543,045 | $716,190 |
| 60643 | $50,010 | $85,010 | $150,000 | $260,000 | $360,000 |
| 60644 | $55,010 | $70,010 | $120,000 | $170,000 | $210,000 |
| 60645 | $83,930 | $120,000 | $190,000 | $340,000 | $413,820 |
| 60646 | $270,000 | $330,000 | $420,000 | $529,642 | $630,000 |
| 60647 | $18,780 | $240,000 | $380,650 | $560,000 | $770,000 |
| 60649 | $20,000 | $30,000 | $80,000 | $150,000 | $210,000 |
| 60651 | $130,000 | $160,000 | $190,000 | $220,000 | $280,000 |
| 60652 | $130,000 | $170,000 | $180,000 | $200,000 | $210,000 |
| 60653 | $10,250 | $157,760 | $220,010 | $310,000 | $400,000 |
| 60654 | $11,442 | $30,000 | $250,000 | $413,745 | $569,800 |
| 60655 | $140,000 | $190,000 | $223,665 | $260,000 | $330,000 |
| 60656 | $100,000 | $140,000 | $290,000 | $334,880 | $420,000 |
| 60657 | $30,000 | $187,300 | $320,000 | $537,110 | $850,010 |
| 60659 | $80,000 | $114,000 | $260,000 | $377,995 | $450,000 |
| 60660 | $74,130 | $120,000 | $192,000 | $285,430 | $450,001 |
| 60661 | $19,620 | $24,710 | $208,860 | $337,200 | $457,190 |
| 60706 | $43,160 | $43,160 | $43,160 | $49,040 | $52,568 |
| 60707 | $110,430 | $190,000 | $230,000 | $290,000 | $320,000 |
| 60803 | $79,370 | $79,370 | $100,890 | $125,190 | $130,194 |
| 60827 | $23,947 | $26,425 | $30,000 | $30,585 | $35,359 |
Source: Ownwell
$1,148
Average Chicago Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Chicago, Illinois
In Chicago, located in Cook County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. Various factors such as property type, location, and exemptions can influence the assessed value. For example, the median home price in Chicago is $208,120, with tax bills ranging from $1,508 at the 25th percentile to $10,381 at the 90th percentile. The highest median tax bill is $8,523 in the 60622 zip code, while the lowest is $569 in the 60827 zip code. High property taxes can significantly impact homeowners, making it essential to manage these costs effectively. Ownwell assists homeowners by providing expert property tax appeal and exemption services, ensuring assessments are accurate and fair. By leveraging local knowledge and expertise, Ownwell can help reduce property tax bills, offering substantial savings and financial relief to homeowners.
Average Chicago Tax Bill
$3,503
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Chicago, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60068 | $1,475 | $3,033 | $5,630 | $5,731 | $5,791 |
| 60601 | $660 | $1,313 | $5,564 | $9,251 | $14,345 |
| 60602 | $788 | $1,106 | $1,407 | $7,842 | $18,019 |
| 60603 | $379 | $1,048 | $3,224 | $11,405 | $18,789 |
| 60604 | $342 | $402 | $4,223 | $9,217 | $14,961 |
| 60605 | $202 | $605 | $4,156 | $6,871 | $10,859 |
| 60606 | $651 | $818 | $4,141 | $6,947 | $9,881 |
| 60607 | $365 | $652 | $5,029 | $8,070 | $12,442 |
| 60608 | $391 | $2,376 | $4,442 | $6,234 | $9,350 |
| 60609 | $202 | $782 | $2,146 | $4,822 | $7,641 |
| 60610 | $414 | $1,825 | $4,822 | $8,580 | $14,729 |
| 60611 | $603 | $1,443 | $5,228 | $9,853 | $19,242 |
| 60612 | $462 | $2,421 | $4,284 | $6,859 | $11,433 |
| 60613 | $402 | $1,944 | $3,622 | $6,882 | $12,617 |
| 60614 | $519 | $3,810 | $7,962 | $14,010 | $25,940 |
| 60615 | $805 | $1,910 | $3,217 | $5,632 | $10,008 |
| 60616 | $202 | $598 | $3,810 | $6,196 | $8,642 |
| 60617 | $336 | $741 | $1,345 | $2,151 | $2,823 |
| 60618 | $1,217 | $4,092 | $7,802 | $11,135 | $17,227 |
| 60619 | $488 | $1,043 | $1,743 | $2,614 | $3,419 |
| 60620 | $358 | $799 | $1,743 | $2,548 | $3,016 |
| 60621 | $137 | $402 | $603 | $1,005 | $1,709 |
| 60622 | $930 | $5,594 | $8,523 | $12,658 | $18,701 |
| 60623 | $637 | $1,133 | $2,145 | $2,950 | $3,833 |
| 60624 | $436 | $877 | $1,412 | $2,413 | $3,565 |
| 60625 | $1,005 | $2,749 | $5,044 | $8,407 | $13,004 |
| 60626 | $400 | $1,743 | $2,815 | $4,357 | $6,838 |
| 60628 | $260 | $538 | $1,109 | $1,950 | $2,621 |
| 60629 | $1,266 | $2,145 | $2,749 | $3,219 | $3,754 |
| 60630 | $1,981 | $3,555 | $5,366 | $6,258 | $7,908 |
| 60631 | $2,172 | $4,054 | $6,167 | $7,978 | $9,652 |
| 60632 | $1,106 | $1,944 | $2,816 | $3,553 | $4,223 |
| 60633 | $677 | $1,211 | $1,950 | $2,864 | $4,551 |
| 60634 | $2,188 | $3,340 | $4,562 | $5,564 | $6,238 |
| 60636 | $124 | $379 | $653 | $1,005 | $1,508 |
| 60637 | $502 | $1,307 | $2,347 | $4,223 | $8,447 |
| 60638 | $1,344 | $2,552 | $3,754 | $4,223 | $5,059 |
| 60639 | $1,869 | $2,619 | $3,419 | $4,226 | $5,329 |
| 60640 | $312 | $1,671 | $3,662 | $6,167 | $9,385 |
| 60641 | $2,055 | $3,438 | $5,182 | $6,601 | $9,242 |
| 60642 | $490 | $4,732 | $7,642 | $10,602 | $13,809 |
| 60643 | $437 | $1,076 | $2,353 | $4,386 | $6,453 |
| 60644 | $379 | $939 | $1,624 | $2,927 | $3,754 |
| 60645 | $939 | $1,930 | $3,217 | $6,033 | $7,643 |
| 60646 | $3,766 | $5,582 | $7,575 | $9,855 | $12,038 |
| 60647 | $332 | $4,108 | $7,070 | $10,735 | $15,171 |
| 60649 | $242 | $503 | $1,174 | $2,347 | $3,688 |
| 60651 | $1,020 | $1,950 | $3,002 | $3,821 | $5,027 |
| 60652 | $1,143 | $2,347 | $2,973 | $3,379 | $3,851 |
| 60653 | $206 | $2,555 | $4,030 | $5,647 | $7,594 |
| 60654 | $201 | $603 | $4,683 | $8,018 | $11,006 |
| 60655 | $1,882 | $3,025 | $3,765 | $4,572 | $5,899 |
| 60656 | $1,407 | $2,212 | $4,629 | $5,966 | $7,441 |
| 60657 | $521 | $3,352 | $6,033 | $10,375 | $16,663 |
| 60659 | $1,140 | $1,951 | $4,022 | $6,724 | $8,380 |
| 60660 | $589 | $1,910 | $3,282 | $5,162 | $8,379 |
| 60661 | $332 | $500 | $4,013 | $6,664 | $9,014 |
| 60706 | $468 | $604 | $830 | $1,244 | $1,492 |
| 60707 | $1,509 | $2,952 | $3,957 | $5,007 | $5,835 |
| 60803 | $2,048 | $2,048 | $2,480 | $3,001 | $3,165 |
| 60827 | $262 | $456 | $569 | $613 | $745 |
Source: Ownwell
$1,148
Average Chicago Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Tax Bill | |
| Issued | February 1 |
| Due Date #1 | March 1 |
| Due Date #2 | August 1 |
Links | |
|---|---|
| Cook Assessor’s Office | |
| Phone | (312) 443-7550 |
| Website | assessorpropertydetails.cookcountyil.gov |
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