What Are Property Taxes?

In the State of Illinois, local real estate property taxes are based on a property's equalized assessed value (EAV), and the total local tax rate applied to that value, after any exemptions are subtracted.

​

Property taxes do not go the state or federal government. They are used to fund local needs.  Property taxes are levied by local taxing bodies, including but not limited to counties, municipalities, townships, community colleges, and school districts.

 

Equalized assessed values are not determined by the local taxing bodies, but through the County Assessor's office.

​

Although mostly used for public education, property taxes also fund other local government needs and projects such as sewer and water improvements, fire protection and law enforcement.