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The average property tax rate is 0.56%, one of the lowest rates in the country. The average homeowner will pay around $1,707 - more than $1,000 less than the national average.
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The Cook County Treasurer oversees what is the United States' second-largest system of property tax collection and distribution. [1] The office was established in 1831, and since 1835 has been an elected, partisan position. The inaugural holder of the office of treasurer was Archibald Clybourn, an early settler of Cook County. [2]
In Cook County, which includes Chicago and its suburbs, property taxes are due twice a year. Taxes not paid by the first due date in March are considered "delinquent," and interest begins to accrue.
The property tax is a local tax, imposed by counties, townships, municipalities, school districts, and special taxation districts. The property tax in Illinois is imposed only on real property . [ 5 ] [ 6 ] [ 7 ] Illinois counties, townships, cities, and villages may also promulgate local ordinances .
Chicago, with its location on the Great Lakes and via the St. Lawrence Seaway, is a global port city, giving Cook County an international shipping port. Cook County's population is larger than that of 28 U.S. states and territories, and larger than the population of 11 of the 13 Canadian provinces and territories. [6]
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