This report explains the system and method for how property taxes are levied, calculated and collected in Cook County, Illinois. This is called the tax extension and billing process. Additional Civic Federation primers will explain the Cook County assessment, property tax appeals and tax increment financing (TIF) systems.The purpose of this report is to make the property tax system more…
This short report presents trends on increases in total property tax extensions for all the governments on typical Chicago property tax bills. A taxpayer in the City of Chicago pays property taxes to 7 or 8 local governments, depending on which part of the City they live.
This report provides an estimate of the full market value of property in Cook County between tax years 2013 and 2022 using data provided by the Cook County Assessor’s Office and the Illinois Department of Revenue. Data to estimate the full value of real estate in 2023 and 2024 using this report’s methodology will not be available for several years.
The Civic Federation released our latest report on effective property tax rates in selected communities in Northeast Illinois earlier this month. The report looks at ten years of data from 2013-2022, the most recent year for which data are available. That period encompasses the aftermath of the Great Recession of 2007-2009 and subsequent growth in property values. Generally, effective…
The Civic Federation has released its estimate of effective property tax rates in the six-county region of northeastern Illinois.The full report is available at civicfed.org/Effective_Property_Tax_2013_2022. Included are interactive maps showcasing the effective residential, commercial and industrial property tax rates of several municipalities in northeast Illinois.
This report estimates the tax year 2022 (taxes payable in 2023) effective rates for selected municipalities in northeastern Illinois. Use our interactive property tax maps to compare residential, commercial and industrial property tax rates across the region.
The most recent edition of an annual report from the Lincoln Institute of Land Policy and the Minnesota Center for Fiscal Excellence compared effective property tax rates across 53 municipalities in all 50 U.S. states. The report found that property tax rates vary greatly by city and state, and the variance was correlated with several local contextual factors, including a government’s reliance on…
Throughout the 2023 Chicago mayoral campaign, Mayor Johnson stated that it was his intention to avoid increasing property taxes, citing concerns about the burden already placed on many Chicagoans. But, while the impact of property tax increases on individual homeowners and business owners is an important factor to consider, the new mayoral administration must also weigh the property tax in…
With the upcoming implementation of an elected school board to oversee Chicago Public Schools, the governance of CPS will be separated from the City of Chicago. The 21-member elected school board, set to replace the existing seven-member board appointed by the Chicago mayor, will be phased in beginning in 2025, with the fully elected board in place beginning in 2027. The separation raises…
This post presents information on residential, commercial and industrial estimated effective property tax rates in northeastern Illinois municipalities in 2019, with some comparisons to rates a decade prior. The Civic Federation produces an annual estimated effective property tax rates report for Chicago and 28 other selected municipalities in northeastern Illinois. Of the municipalities, 12 are…
