Real property (land and buildings) is assessed at 33.3% of market value. This is significantly lower than Cook County where industrial property is assessed at 36% and commercial space is assessed at 38%.
Average Property Tax Rates by County 2008
The rates shown below reflect $$Tax per $100 of Assessed Value.
|
Cook
|
DuPage
|
Kane
|
Lake
|
McHenry
|
Will
|
|
|
Commercial
|
$7.26
|
$5.99
|
$7.24
|
$7.07
|
$7.39
|
$7.56
|
|
Industrial
|
$7.77
|
$6.43
|
$7.13
|
$7.39
|
$7.42
|
$6.58
|
State of Illinois Taxes
|
Corporate Income Tax
|
|
|
Tax Rate
|
7.3%
|
|
Rate Structure
|
Flat
|
|
Based on Federal Income
|
yes
|
|
Apportionment (sales-property-payroll)
|
100-0-0
|
|
Sales, Use, & Utility Taxes
|
|
|
Rates:
|
|
|
General Sales Tax
|
6.25%
|
|
Maximum Local Sales Tax Rate
|
3%
|
|
Services (% exempt)
|
96.7%
|
|
Sales Tax Exemptions:
|
|
|
Manufacturing Machinery
|
Exempt
|
|
State and Local Utility Taxes, Based on Consumption:
|
|
|
Electricity
|
0.33-0.202 cents/kwh
|
|
Natural Gas
|
2.4 cents/therm
|
|
Property Taxes
|
|
|
Legal Assessment Ratio for Realty
|
33.3%
|
|
Exemptions
|
Personalty, Machinery, Inventory
|
|
Payroll Taxes
|
|
|
Unemployment Insurance:
|
|
|
Taxable Base
|
$11,500
|
|
New Employer UI Rate
|
3.9%
|
|
Minimum UI Rate
|
1.00%
|
|
Maximum UI Rate
|
8.20%
|
|
Workers' Compensation Average Rate
|
2.69%
|
|
Personal Income Taxes
|
|
|
Tax Rate
|
3.00%
|
|
Rate Structure
|
Flat
|
Source: US Census Bureau
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