Calculate using real Chicago data. Median home price: $310,000. Property tax rate: 1.73%.
The effective property tax rate in Chicago, IL is 1.73%. On the median home value of $310,000, that equals approximately $5,363 per year.
At the 1.73% effective rate, a $310,000 home in Chicago, IL would pay about $5,363 annually, or $447 per month.
The 1.73% rate in Chicago, IL is above the national average of roughly 1.1%.