Georgia vs Illinois
Property Tax Comparison: Georgia vs. Illinois
According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Georgia and Illinois differ markedly in their effective property‑tax rates, median home values, and the resulting annual tax burdens. The data below shows how the two states compare on these key metrics.
Side‑by‑side comparison
| Metric | Georgia | Illinois |
|---|---|---|
| Effective property‑tax rate | 0.81 % | 2.07 % |
| Median home value | $272,900 | $250,500 |
| Median annual property tax | $2,214 | $5,189 |
| Property tax on a $250,000 home | $2,028 | $5,179 |
| Property tax on a $500,000 home | $4,057 | $10,357 |
| Median household income | $74,664 | $81,702 |
Sources: Georgia property tax, Illinois property tax.
Which state has the lower tax burden?
- Winner (lower effective tax rate): Georgia – 0.81 % vs. Illinois’ 2.07 %.
- Rate difference: 1.26 percentage points, which is a 60.84 % lower effective rate in Georgia.
- Annual tax difference on a $250,000 home: $5,179 – $2,028 = $3,151.
- Annual tax difference on a $500,000 home: $10,357 – $4,057 = $6,300.
Why Georgia scores lower
The primary driver is the substantially lower effective property‑tax rate. Even though Georgia’s median home value is slightly higher than Illinois’, the lower rate produces a median annual tax that is less than half of Illinois’ ($2,214 vs. $5,189). Consequently, the tax owed on both $250 k and $500 k homes is considerably less in Georgia.
Who is likely to benefit from this comparison?
| Audience | Relevance of the comparison |
|---|---|
| Current homeowners | May see a smaller ongoing tax expense in Georgia, especially if they own higher‑valued properties. |
| Prospective homebuyers | Lower tax rates can reduce the total cost of homeownership in Georgia relative to Illinois. |
| Retirees on fixed incomes | A lower property‑tax burden can be advantageous for budgeting fixed‑income resources. |
| Real‑estate investors | The differential affects cash‑flow calculations; Georgia’s lower rates can improve net operating income. |
| Policy analysts | Provides a data‑based illustration of how state‑level tax policy impacts household expenses. |
The comparison is factual and does not incorporate qualitative factors such as local services, school funding, or cost‑of‑living variations, which may also influence decision‑making.
Summary
Based on the most recent ACS estimates, Georgia’s effective property‑tax rate of 0.81 % is markedly lower than Illinois’ 2.07 %, resulting in substantially lower annual property‑tax payments for median‑valued homes and for properties valued at $250 k and $500 k. Homeowners, retirees, and prospective buyers looking primarily at tax burden will generally find Georgia to be the more tax‑advantageous state according to the available data.
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Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.