Property tax rates, which vary by county, averaged 2.28 percent in Illinois in 2012, up from 1.93 percent in 2010, the Illinois Policy Institute said, interpreting county-level data in the Urban Institute’s report. Local officials have increased property tax rates in response to declining home values, Brian Costin, IPI’s director of government reform, said in a blog post. Source: chicagomag.com.
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