How are property tax rates determined in Illinois?

Property tax rates in Illinois are set by each taxing district (municipality, school district, park district, library, etc.) based on their annual levy (the amount of tax revenue they need). The rate is calculated by dividing the levy by the total assessed value of all property in the district.

What is the composite tax rate?

The composite tax rate is the sum of all overlapping taxing district rates that apply to a specific property. A typical property may be taxed by several overlapping districts. The composite rate determines your total tax bill when multiplied by your property's assessed value.

Why do tax rates vary within the same town?

Properties within the same municipality can have different composite rates because overlapping districts (school, park, fire, library) have different boundaries. A home in one school district may have a different rate than a home two blocks away in a different school district.

Prospect Heights, IL Property Tax Rate 2026 — Full Breakdown by District

CSAChicago-Naperville MSAChicago-Naperville-Elgin#108/303 Home Value

Showing latest tax year with year-over-year changes. Full rate history available with a paid plan. View plans →

Property Tax — Tax Year 2024 (payable 2025)i

IL DOR

Composite Ratei

6.36%–7.74%+4.9%YoY

Varies by school district

Municipal Portioni

0.3573%+0.9%YoY5.1% of total

Effective Ratei

2.12%–2.58%

Est. Annual Taxi

$7K–$9K

Median Home Valuei

$346,500

Total Leviedi

$1.1B

Tax Per Capitai

$120

Municipal Revenuei

$2.3M9.2% of total rev

Rate varies by school district. Your actual rate depends on which school district your property falls in.

Rate Trend — click a year to explorei

20232024

Municipal

Other Districts

Where Your Tax Dollar Goesi

$0.62 E 26 (Cook)

$0.52 E 25 (Cook)

$0.50 E 23 (Cook)

$0.42 E 31

$0.17 Prospect Hts Fpd

$0.11 Prospect Hts Pkd

$0.08 Prospect Hts Lbry Dist

$0.06 Cook Co

$0.05 Prospect Hts

$0.01 Cook Co Fst Prsv Dist

$0.01 Wheeling Twp

Estimated Tax by Home Valuei

$200K

$4,239–$5,158

$250K

$5,299–$6,448

$300K

$6,359–$7,738

$350K

$7,418–$9,027

$400K

$8,478–$10,317

$450K

$9,538–$11,607

$500K

$10,598–$12,896

Highlighted value is closest to median home value ($347K)

11 Overlapping Taxing Districtsi

E 26 (Cook)Elementaryi

61.6%4.3382%

$28.8M levied

E 25 (Cook)Elementaryi

51.8%3.6518%

$87.0M levied

E 23 (Cook)Elementaryi

49.9%3.5163%

$24.3M levied

E 31Elementaryi

42%2.9592%

$21.9M levied

Prospect Hts Fpdi

16.6%1.1703%

$6.2M levied

Prospect Hts Pkdi

11.3%0.7985%

$3.5M levied

Prospect Hts Lbry Disti

7.9%0.5595%

$4.4M levied

Cook Coi

5.5%0.3905%

$815.6M levied

Prospect Htsi

5.1%0.3573%

$1.9M levied

Cook Co Fst Prsv Disti

1%0.0686%

$143.3M levied

Wheeling Twpi

0.8%0.0548%

$3.5M levied