Calculate your Illinois mortgage payment with state-specific property tax rates (2.08% average - highest in US), flat state income tax (4.95%), and 2026 conforming loan limits.
IL average: 2.08% (highest in US)
Cook County (Chicago) has higher limits due to higher home values.
Illinois has a flat income tax rate of 4.95%:
Your real take-home is in the paycheck calculator.
Illinois has the highest property taxes in the nation:
Their official page has details.
Illinois has the highest property taxes in the US (2.08% average) due to underfunded pension systems, high local government spending, and reliance on property taxes to fund schools. Cook County and collar counties have rates over 2.0%, significantly higher than the national average of 0.99%.
Illinois has a flat income tax rate of 4.95% for all income levels. A constitutional amendment to create a progressive tax system failed in 2020. Chicago residents pay an additional city income tax (up to 3.75%), making the combined rate 8.7% for high earners.
Yes. Illinois offers several senior property tax relief programs: Senior Homestead Exemption (reduces assessed value by $8,000), Senior Freeze (freezes assessment for 65+ with income under $65,000), and Circuit Breaker program (refunds property taxes exceeding 5% of income for low-income seniors).
Yes, the Illinois Housing Development Authority (IHDA) offers several programs: down payment assistance (up to $7,500), competitive interest rates, and special programs for teachers, first responders, and healthcare workers. Eligibility depends on income and home price limits.
Illinois has higher property taxes (2.08% vs 0.85% in Indiana), higher home prices (median $300K vs $200K), and higher income tax (4.95% vs 3.05% in Indiana). However, Illinois has better job opportunities, higher salaries, and more amenities. The choice depends on your priorities and where you work.