How much are property taxes in Mount Prospect, IL?
Homeowners in Mount Prospect, IL pay a median of $8,425 (±$207) a year in real estate taxes (2020–2024 American Community Survey, table B25103).
Homes with a mortgage pay a median of $8,787.
Homes without a mortgage pay a median of $7,803.
That is about 2.1% of the median home value of $397,400.
In Mount Prospect, the median real estate tax went from $7,159 in 2015–2019 to $8,425 in 2020–2024 (+17.7%).
Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.
Figures last updated on .
- Median real estate taxes
- $8,425 (±$207)
- With a mortgage
- $8,787
- Without a mortgage
- $7,803
- Share of median value
- 2.1%
Real estate taxes in Mount Prospect against Cook County, its state and the nation
| Mount Prospect | Cook County | Illinois | United States | |
|---|---|---|---|---|
| Median real estate taxes | $8,425 (±$207) | $6,191 (±$30) | $5,298 (±$22) | $3,119 |
| Homes with a mortgage | $8,787 (±$290) | $6,502 (±$41) | $5,833 (±$28) | $3,489 |
| Homes without a mortgage | $7,803 (±$471) | $5,638 (±$66) | $4,463 (±$30) | $2,576 |
| Median home value | $397,400 (±$11,745) | $324,500 (±$1,460) | $263,300 (±$797) | $332,700 |
In Mount Prospect, the median real estate tax is higher than in Cook County ($6,191).
It is also higher than in Illinois ($5,298).
It is higher than the national figure ($3,119).
In Cook County, Mount Prospect ranks 35 of 147 places with a published estimate, from highest to lowest median real estate taxes.
Statewide, it ranks 138 of 2,625.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
Taxes as a share of home value in Mount Prospect
The median tax ($8,425) is 2.1% of the median home value ($397,400).
Across Cook County the same ratio is 1.9%.
Across Illinois it is 2.0%.
This is a ratio of two medians, a rough effective rate: not the tax rate or mill rate the town, county or school district sets, and not any one home’s bill.
Owners report what they paid and what they think their home is worth; the assessor’s office publishes the actual rates and assessments.
How property taxes in Mount Prospect have changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median real estate taxes | $7,159 (±$161) | $8,425 (±$207) | +17.7% | Down after inflation |
| Median home value | $330,200 (±$6,485) | $397,400 (±$11,745) | +20.4% | No measurable change after inflation |
| Median owner cost with a mortgage | $2,198 (±$51) | $2,619 (±$79) | +19.2% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median real estate taxes in places near Mount Prospect
| Place | Distance | Median real estate taxes | Compared with this place |
|---|---|---|---|
| Mount Prospect | — | $8,425 (±$207) | — |
| Prospect Heights | 2.8 mi | $7,289 (±$1,090) | Lower |
| Des Plaines | 2.8 mi | $6,344 (±$153) | Lower |
| Elk Grove Township | 3.1 mi | $6,589 (±$186) | Lower |
| Wheeling Township | 3.2 mi | $8,190 (±$168) | Not measurably different |
| Arlington Heights | 3.2 mi | $8,759 (±$196) | Higher |
| Maine Township (Cook County) | 4.3 mi | $7,303 (±$176) | Lower |
| Rolling Meadows | 4.6 mi | $6,636 (±$348) | Lower |
| Wheeling | 4.6 mi | $6,029 (±$457) | Lower |
Nearby places with a measurably lower figure: Prospect Heights, IL ($7,289), Des Plaines, IL ($6,344), Elk Grove Township, IL ($6,589).
Nearby places with a measurably higher figure: Arlington Heights, IL ($8,759).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median real estate taxes across Cook County, place by place
| Rank | Place | Median real estate taxes |
|---|---|---|
| 29 | Palos Park | $9,152 (±$1,232) |
| 30 | La Grange Park | $9,103 (±$240) |
| 31 | Evanston | $8,863 (±$415) |
| 32 | Arlington Heights | $8,759 (±$196) |
| 33 | Palatine Township | $8,612 (±$258) |
| 34 | Lemont Township | $8,577 (±$276) |
| 35 | Mount Prospect | $8,425 (±$207) |
| 36 | Lemont | $8,288 (±$325) |
| 37 | Wheeling Township | $8,190 (±$168) |
| 38 | Morton Grove | $8,109 (±$267) |
| 39 | Hoffman Estates | $8,096 (±$244) |
| 40 | Brookfield | $8,049 (±$339) |
| 41 | Skokie | $8,048 (±$244) |
Showing 13 of 147 places in Cook County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Mount Prospect
How much are property taxes in Mount Prospect?
The median real estate tax paid by homeowners in Mount Prospect, IL is $8,425 (±$207) a year (2020–2024 American Community Survey).
What is the property tax rate in Mount Prospect?
The Census Bureau does not publish tax rates; as a rough guide, the median tax paid is 2.1% of the median home value in Mount Prospect, and the actual rate is set by the town, county and school district.
Have property taxes in Mount Prospect gone up?
In Mount Prospect, the median real estate tax went from $7,159 in 2015–2019 to $8,425 in 2020–2024 (+17.7%).
Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.
Are property taxes in Mount Prospect higher than in Cook County?
In Mount Prospect, the median real estate tax is higher than in Cook County ($6,191).
It is also higher than in Illinois ($5,298).
It is higher than the national figure ($3,119).
Sources
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Mount Prospect village, Illinois
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Mount Prospect village, Illinois
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2015–2019 ACS 5-year estimates — Mount Prospect village, Illinois
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Mount Prospect village, Illinois
- Median Selected Monthly Owner Costs (B25088), 2015–2019 ACS 5-year estimates — Mount Prospect village, Illinois
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Mount Prospect village, Illinois (place:51089, in state:17).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B25103_001E, B25103_001M, B25077_001E, B25077_001M, B25088_002E, B25088_002M from the 2019 release.
The API needs a free key.
B25103_001E, B25103_001M, B25103_002E, B25103_002M, B25103_003E, B25103_003M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
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