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October 1, 2024

Estimated Effective Property Tax Rates 2013-2022

Effective property tax rates are a measure of property tax burden for homeowners and businesses. They translate the tax rates on property tax bills into rates that reflect the percentage of full market value that a property owed in taxes for a given year. This report estimates the tax year 2022 (taxes payable in 2023) effective rates for a specific tax code in Chicago and 28 other selected municipalities in northeastern Illinois.[1] Of the municipalities, 12 are in Cook County (including Chicago) and 19 are in collar counties. There are three municipalities included in the study that are located in two counties: Elgin overlaps Cook and Kane counties, Elk Grove Village overlaps Cook and DuPage counties and Naperville overlaps DuPage and Will counties.