Chicago Property Management Experts

We take the stress out of managing your investment.

Chicago Property Management Blog

The Different Types of Illinois Property Taxes

Home River Chicago - Wednesday, September 7, 2022
Property Management Blog

Did you know that according to a Smart Asset report, Illinois property taxes rank as the "second-highest property taxes in the country?" While that's a chunk of change, understanding Illinois property taxes are a part of our Illinois property management plans that we offer, especially if you're an interested investor from the Indianapolis area.

In this guide, we walk you from zero to hero about Illinois property taxes and our property Illinois management services. 

Understanding Illinois Property Taxes.

Real estate investors and homeowners with a grasp of Illinois property taxes understand one of the most important tips for property management. But, of course, you can view our blog as you learn more about our prices for your Illinois property management plans.

According to, an investor can expect to pay an "average of 1.73%" in Illinois property tax rates. We're here to help you manage property for residential homes like condos, townhouses, or single and multi-family dwellings.

Therefore, please be prepared to pay an average of $3,507 for your residential home. We can also help refer you to the right agent who can help you find a home that fits your property tax budget.  

Commercial Illinois Property Taxes

Suppose you're in the market for commercial property in Illinois. In that case, the state usually reassesses commercial property values "every four years," according to When it comes to Illinois commercial property, the state primarily relies on two areas for assessing property tax rates.

The first factor is the property tax rates from the particular Illinois county. The second factor is a portion of the commercial property in question.

Non-Profit Illinois Property Taxes 

While the state of Illinois imposes property taxes for commercial and residential properties, religious organizations, for example, might not have to pay property taxes at all. 

We are also happy to assist legal non-profit organizations with brokerage services managing their Illinois property. You must apply for an exemption for any property tax rates with the Illinois County Board of Review. 

Residential Illinois Property Taxes 

We, of course, stand ready to help residential homeowners with their Illinois property management and help prospective tenants as well. Suppose you are paying rent or leasing a property for residential reasons.

In that case, a landlord does have the legal right to "make you pay property taxes", according to 

Having a general understanding of Illinois property taxes, in general, can influence your decision to go with us to help you pay to secure the residential property. And if you become the next tenant, we also help you pay your rent on time as a part of our property management services. 

If You Have Questions at All

We know that buying any property can seem overwhelming and like a daunting task. But you're not alone. If you need further information about us or how Illinois property taxes impact property managing, please don't hesitate to reach out to us.

We have a winning track record helping real estate investors from all over the country, including from the Indianapolis area with managing Illinois property. If you're a prospective vendor looking to work with us, you are invited to apply. Please be sure to have a copy of a W-9 form along with proof of insurance.

In addition, prospective tenants and real estate investors can read our frequently asked question section for tips for property management and other methods regarding Illinois property management.