Will County Property Tax Guide: What Homebuyers Need to Know

Property taxes are one of the most significant ongoing costs of homeownership in Illinois — and in Will County, they can vary dramatically from one township to the next, from one school district to another, and even from one side of a street to the other. Before you buy a home in the south suburbs, understanding how property taxes work, what to expect, and how to plan for them is essential.

This guide walks you through the Will County property tax system, how rates are calculated, what affects your tax bill, and what strategies homeowners can use to keep taxes manageable.

How Illinois Property Taxes Work

Illinois has one of the highest effective property tax rates in the nation — consistently ranking in the top three or four states. The state average is roughly 2.0–2.2% of market value annually, compared to a national average around 1.1%. Will County falls within this range, though actual rates vary significantly by municipality and school district.

Here’s how the system works:

Assessed Value

In Illinois, property is assessed at one-third of its estimated market value. This is called the Assessed Value (AV). So a home with a market value of $300,000 would have an Assessed Value of approximately $100,000.

Equalization Factor (Multiplier)

The Illinois Department of Revenue applies a state equalization factor (multiplier) each year to bring assessed values into alignment with market values across counties. The multiplier adjusts the Assessed Value to arrive at the Equalized Assessed Value (EAV). In Will County, this multiplier is typically close to 1.0, but it changes annually.

Exemptions

Exemptions reduce your EAV before your tax bill is calculated. The most common exemptions include:

• General Homestead Exemption: Reduces EAV by up to $6,000 for owner-occupied primary residences
• Homestead Improvement Exemption: Temporarily offsets increased assessments after qualifying improvements
• Senior Citizen Homestead Exemption: Additional $5,000 EAV reduction for homeowners 65+
• Senior Citizen Assessment Freeze: Freezes the EAV for income-qualified seniors 65+
• Disabled Veterans Exemption: Ranging from partial to full exemption depending on disability rating

Tax Rate

Your tax rate (expressed as a dollar amount per $100 of EAV) is set by the various taxing bodies that overlay your property — your municipality, township, school district(s), park district, library district, fire protection district, community college district, and others. In Will County, most properties fall under 10–15 separate taxing bodies, each setting their own levy.

The combined rate across all taxing bodies is your aggregate tax rate, which is applied to your EAV (after exemptions) to produce your tax bill.

Property Tax Rates by South Suburbs Community

Effective tax rates (as a percentage of market value) vary considerably across south suburbs communities, primarily because of differences in school district levies. The school district typically accounts for 55–65% of your total property tax bill — which is why school district boundaries matter so much to buyers.

General effective rate ranges you’ll encounter in common south suburbs communities (these fluctuate annually — always verify current rates with the Will County Treasurer):

• Frankfort: Approximately 2.0–2.3% effective rate (Lincoln-Way District 210)
• New Lenox: Approximately 2.1–2.4% (Lincoln-Way District 210)
• Mokena: Approximately 2.0–2.3% (Lincoln-Way District 210)
• Homer Glen: Approximately 2.0–2.5% (varies by township — Lockport Township vs. Homer Township)
• Lockport: Approximately 2.2–2.6% (Lockport Township High School District)
• Manhattan: Approximately 2.1–2.5% (Lincoln-Way District 210)
• Orland Park: Spans multiple school districts (Sandburg, Palos) — rates typically 2.0–2.4%
• Tinley Park: Multiple school districts — rates typically 2.1–2.5%

Note: Always look up the actual tax bill for any specific property you’re considering, not just community averages. Two homes on the same street can have meaningfully different effective rates based on school district overlaps and exemption status.

How to Look Up Property Taxes in Will County

Before making an offer on any property, look up the actual tax bill — not just the estimate. Here’s how:

• Will County Treasurer’s Website: Search by address or PIN (Property Index Number) to see the most recent tax bills, payment history, and outstanding balances
• Will County Assessor’s Website: See the assessed value, recent assessment changes, and exemptions currently applied to a property
• Illinois PTAX lookup tools: Various state and county resources allow comparison of rates by taxing district

When reviewing tax data, pay attention to whether the current owner has exemptions that won’t transfer to you. A property currently receiving a Senior Citizen Assessment Freeze will see its taxes reset to market-value-based rates when you purchase it — potentially a significant increase from what the current bill shows.

Illinois Property Taxes Are Paid in Arrears

One of the most important things to understand about Illinois property taxes: they’re paid in arrears. This means the bill you pay in 2025 is for the 2024 tax year. The bill you pay in 2026 is for 2025.

At closing, this creates a tax proration: the seller owes you a credit for the portion of the current tax year they’ll have occupied the home before you take ownership. Because the actual tax bill for that year won’t be known until later, the proration is typically calculated based on 105–110% of the most recent known tax bill — a standard practice in Illinois closings that protects buyers against under-proration.

For buyers: the tax proration credit you receive at closing is real money — on a $10,000/year tax bill, you might receive $5,000–$7,000 in tax credits at closing, depending on the time of year and the number of months the seller occupied the home in the current year. Budget for this carefully in your closing cost estimates.

How to Appeal Your Property Tax Assessment

If you believe your home has been over-assessed — meaning the county’s assessed value is higher than one-third of actual market value — you have the right to appeal. Property tax appeals in Will County follow a specific process:

Step 1: Will County Board of Review

The first level of appeal is the Will County Board of Review. You have a limited window each year (typically 30 days from the date your assessment notice is mailed) to file a complaint. The complaint requires evidence of market value — typically recent comparable sales showing that similar homes sold for less than your assessment implies.

Step 2: Illinois Property Tax Appeal Board (PTAB)

If unsatisfied with the Board of Review’s decision, you can appeal to the state-level Illinois Property Tax Appeal Board. PTAB appeals take longer (often 1–3 years) but can result in significant reductions for over-assessed properties.

Step 3: Circuit Court

The final appeal option is filing in Will County Circuit Court. This is typically pursued only for high-value properties where the potential tax savings justify the legal cost.

For most homeowners, a Board of Review appeal is the most practical path. Success rates vary, but homeowners with solid comparable sales evidence win meaningful reductions regularly. Many property tax attorneys work on contingency — taking a percentage of the first year’s savings — which makes appeals low-risk for homeowners.

Exemptions to Apply For After Closing

As a new homeowner in Will County, applying for all available exemptions is one of the easiest money-saving steps you can take. Exemptions don’t apply automatically — you need to file.

• General Homestead Exemption: File with the Will County Assessor’s Office after your first full year of ownership. Reduces EAV by up to $6,000 annually.
• Senior Exemptions: If you’re 65+, file for both the Senior Citizen Homestead Exemption and, if income-qualified, the Senior Citizen Assessment Freeze. These can save hundreds to thousands annually.
• Disabled Veterans: If you have a service-connected disability rating from the VA, file for the appropriate disabled veterans exemption — partial or full, depending on your rating.

What is the property tax rate in Will County?

Effective rates generally range from 2.0–2.6% of market value, depending heavily on which school district the property falls in. Always look up the actual tax bill for a specific property before purchasing.

Are Illinois property taxes paid in advance or arrears?

In arrears — the 2025 tax bill covers 2024. At closing, you receive a seller credit for the portion of the year the seller occupied the home, calculated at 105–110% of the prior year’s bill.

Do I need to apply for homestead exemptions?

Yes — exemptions don’t transfer automatically. File for the General Homestead Exemption with the Will County Assessor’s Office after your first full year of ownership. Seniors and veterans should file for additional applicable exemptions.

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Have questions about property taxes on a specific home you’re considering in the south suburbs? Krembo Group can walk you through the actual tax history, applicable exemptions, and what to budget for — before you make an offer. Contact us today.

Related Reading

• Illinois Homestead Exemption: How to Lower Your Property Tax Bill
• How to Appeal Your Illinois Property Tax Assessment
• Buyer Closing Costs in Illinois: What to Expect
• South Suburbs of Chicago: Complete Neighborhood Guide