Illinois Property Taxes: What Buyers and Sellers Need to Know

How Property Taxes Work in Illinois

Illinois collects property taxes in arrears, meaning you pay this year for last year's taxes.

✓ Your 2025 property taxes are paid in 2026.
✓ Your 2026 taxes won't be paid until 2027.

Tax bills are usually mailed in June or July. So in June 2026, you'll receive your bill for 2025 taxes. You can pay the bill in full or use the installment option (typically four payments). If you have a mortgage with an escrow account, your lender usually handles payment automatically, but always verify the bill has been paid.

Look up your taxes online:

Madison County Tax Lookup St. Clair County Tax Lookup

I Bought a House Last Year: How Much Do I Owe in Taxes?

This is one of the most common questions. Here is a real-world example.

Example: Johnny and Suzy Lincoln

They closed on their new home on June 30, 2025. Annual taxes are $3,000. They only owned the home for half of 2025, so here is how it plays out:

✓ At closing, the seller credits Johnny and Suzy $1,500 for the six months they did not own the home.
✓ In June 2026, the full $3,000 bill arrives and the buyer (or their lender) pays it.
✓ Each party pays their share: seller for January through June, buyer for July through December.

Bottom line

All of the proration calculations are handled by the title company at closing. They also verify that the previous year's taxes were paid. If closing happens in January or February, they prorate carefully to avoid surprises. You don't need to do the math yourself.

I Sold a House Last Year: How Much Do I Owe in Taxes?

Nothing. You squared up at closing.

✓ The title company prorated taxes to the day of closing.
✓ You gave a credit to your buyer for the portion of the year you no longer owned the home.
✓ When the full bill arrives in June, the buyer (or their lender) pays it.

You have no further tax obligation after closing. If you ever have questions about a specific transaction, give me a call or reach out to your title company. They'll have the exact numbers.

Community discussion

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Questions about your specific situation?

Every transaction is a little different. Reach out and I'm happy to walk you through it.

📞 Call 618-531-4000 💬 Text 618-531-4000

Email george@wildfire.net and I'll get back to you within one business day.

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George Sykes

Managing Broker, Worth Clark Realty

618-531-4000