Illinois Homeowners Are Paying So Much Money In Property Taxes

This shouldn't come as a surprise to those who live in Illinois just how high property taxes are. For the rest of us that don't live there, we feel awful for you but it's your fault you live in Illinois.

The amount that a homeowner pays in property taxes every year in Illinois should almost be a crime. Illinois has had one of the highest property tax rates in the U.S. for more than a decade and it doesn't look like it's going down. If I owned a home in Illinois, I would've left the second I got that bill.

How many are Illinoisans paying property taxes compared to the rest of America? For now, let's say a lot more.

Where Your Property Taxes Go In Illinois

If you have a really good education system and schools in your community, you can at least see where most of it goes. If you don't have that in your Illinois town, you need to start questioning your local and county governments.

The Illinois Department of Revenue says that property taxes are collected at the local level and distributed to the taxing district that requested the tax. School districts get the largest portion of property taxes.

Illinois Pays Too Much In Property Taxes

Like, way too much. WalletHub released its list of states that pay the most and the least amount of property taxes for 2024. Illinois doesn't pay the most, it pays the second most in the U.S.

Illinois sits right behind New Jersey as the state with the 2nd-highest property taxes. The average property tax rate is 2.11% and on a house that's $250k, you're looking at paying $5,275. By the way, the average cost of a home in Illinois is about $240,000.

Property Taxes Aren't Going Down

As a matter of fact, they are going up. Since 2010, Illinois has been among the top 10 states with the highest property taxes.

How can anyone still live there and still have enough money for fun or groceries?