Who must pay property taxes?
All owners of real property must pay property tax unless specifically exempted by State law. Leaseholders must pay property tax if they are leasing real estate from an owner whose property is exempt from property tax. Owners of business, industrial, agricultural, and residential property all pay property tax. Renters also contribute to the property tax but do so indirectly through their rent. Landlords consider taxes as cost of doing business and adjust their own rents to cover them. In Illinois, taxpayers now pay property taxes only on their real property. Personal property tax for individuals was eliminated in 1969.

Show All Answers

1. What is property tax?
2. What is the history of the Illinois property tax?
3. What is considered property?
4. How is the value of property determined?
5. How are farm properties valued in Illinois?
6. Who must pay property taxes?
7. Who spends property taxes?
8. How important is the property tax compared to other taxes?