NCI Regional Property Tax Rates for Manufacturing/Distribution - 47 cents to $1.15 per sq.ft.
There is no State Property Tax in Illinois. Local Property taxes are the primary source of income for all Illinois school districts. Taxes are levied per $100 of equalized assessed value (EAV) Assessments are based on market value, and vary based on County, and by residential, commercial or industrial use. Tax rates average approximately 7.82 percent of assessed value statewide. Property taxes are assessed for the County, Village, Library District, Township, Elementary School District, High School District, Community College District, and Park District. Please call the North Central Illinois Economic Development office at 815-224-0645 to determine the property tax rate at any particular address or location.
- Illinois does not collect a state property tax on real estate or personal property.
- All property other than real estate is exempt from the property tax in Illinois. Thus, all classes of personal property, including machinery, equipment, inventories, and intangibles, are exempt.
- Pollution controls are assessed at salvage value (lacking any economic productivity) rendering them essentially exempt from the property tax.
- Property tax Tax Increment Financing Zones (TIFs) are used in Illinois to promote development. 16 North Central Illinois cities have established local TIF districts....many providing development opportunities within industrial and business parks.
- Property Tax Collections as a Percent of Income = 4.35 percent
An Example of your Total Property Tax Bill in North Central Illinois:
Estimated Total Annual Property Taxes
$10 Million Industrial Development
|Bureau County||$ 205,700||$ 5,167|
|LaSalle County||$ 228,400||$ 5,710|
|Putnam County||$ 180,500||$ 4,512|
Property Tax Comparison - Effective Business Tax Rate on Industrial and Commercial Development
74 Percent Less Property Taxes than Cook County; 28 Percent Less than Will County
Effective Property Tax Rate %
|Bureau County, IL||2.067%|
|LaSalle County, IL||2.284%|
|Putnam County, IL||1.805%|
|Cook County, IL||8.60%|
|City of Chicago||5.26%|
|Will County, IL||3.16%|
|DuPage County, IL||2.75%|
|Kane County, IL||3.64%|
|Grundy County, IL||2.224%|
|Champaign County, IL||2.162%|
|McLean County, IL (Bloomington)||2.253%|
|Ogle County, IL (Rochelle)||2.226%|
|Peoria County, IL (Peoria)||2.227%|
|Porter County, IN (Portage)||0.958%|
|St. Joseph County, IN (South Bend)||1.021%|
|Dane County, WIS (Madison)||2.013%|
|Milwaukee County, WIS||2.560%|
|Scott County, Iowa (Davenport)||1.556%|
Data Updated August 2018 - Effective property tax rates are the median amount of property taxes actually paid each year as a percentage of the median value.