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Tuesday, October 15, 2024

Higher property tax revenue in Illinois during Q2

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David Harris Commissioner of Revenue at Illinois Department of Revenue | Illinois Department of Revenue

David Harris Commissioner of Revenue at Illinois Department of Revenue | Illinois Department of Revenue

Illinois collected $19 million in property taxes during the second quarter, an 11.8% increase over the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter was $17 million.

Overall, Illinois collected $19.5 billion in combined tax revenues in the second quarter, an increase from the $15.3 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q2 Illinois Tax Collections
Type of TaxAmount (millions)
Property Taxes$19
Sales and Gross Receipts Taxes$6,975
Income Taxes$11,201
License Taxes$1,117
Other Taxes$178
Source: U.S. Census Bureau

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