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Property tax (Chicago / Cook County)
Chicago's effective property tax averages roughly 1.8–2.0% of market value (Cook County median ~2.14%). The General Homestead Exemption cuts a primary residence's Equalized Assessed Value by $10,000, saving about $250–$2,000/yr.
| Home value | $500,000 |
| Rate | 1.90% |
| Tax | $9,500 |