It’s Official: 4 Illinois Cities Rank Worst for Property Taxes

If you thought property taxes were high in Rockford, you're not dreaming.

Rockford Tops the Nation, According to New Study

Compared to the rest of the country, it would be more like a nightmare come true. In fact, according to a new study by Crain's Chicago Business, Rockford has the highest property taxes in the state and, even worse, the highest in the entire country.

Four Illinois Cities Land Among the Worst for Property Taxes

So what gives? The truth is, I have no idea why, and it just seems like that's the way it is. That's not a good enough answer. The study also shows four of the top five worst cities for property taxes are in Illinois:

• Rockford: 2.06% above market value of their home in property taxes
• Chicago: 1.91%
• Peoria 1.89%
• Champaign-Urbana: 1.88%

How Rockford’s Tax Rate Stacks Up Against the National Average

For comparison's sake, the national average is less than half of Rockford's. These are all outrageous tax percentages. I suppose I can see them in Chicago, considering the city's massiveness, but even compared to Rockford, they're nuts.

The Real Impact on Rockford Homeowners

The real story is the financial burden that Rockford residents must take on as homeowners, part of the American dream, mind you, and it's incredibly unfair. The report also notes that property taxes are a significant factor in determining the affordability of homes in Illinois. You don't say?

In Illinois, a Second Mortgage Often Covers Property Taxes

In almost every other state, a second mortgage is typically used to pay outstanding bills or finance home renovations. In Illinois, however, it is often used to pay real estate taxes.