A Website proves Illinois has the 2nd Highest Property Taxes
Not surprised... A website compiled a complete list of property taxes by state, and Illinois finishes at the bottom. There is only one state in the US that has a worse property tax rate than the Land of Lincoln, take a look at the depressing numbers here...
WalletHub released its 2023's Property Taxes by State list, and to no surprise, Illinois finished 2nd to last in the country. On the site they say...
"In order to determine the states with the highest and lowest property taxes, WalletHub compared the 50 states and the District of Columbia by using U.S. Census Bureau data to determine real-estate property tax rates"
The only state where the property taxes are worst than Illinois? New Jersey. The site compiles this data and ranks the states on what they call the "Effective Real-Estate Tax Rate" Illinois' is 2.23% compared to New Jersey's which is 2.47% and the only other states about 2% are Connecticut and New Hampshire. By their calculations, they say the average Illinois family will pay $5,465 on the house for about $244,000. Where do Illinois' neighbors land on this list? Missouri ranks 29th, Iowa 42nd, Wisconsin 44th, and Indiana 21st. To see the complete list for yourself click here!
If you are wondering why so many people are moving out of Illinois, this list is the only evidence you need. I will say it again, for cold weather states to be competitive with the warm weather states your taxes have to be lower than the warm weather states. But that's just my opinion...