Chicago suburbs  ·  2020–2024 Census data

Summit Property Tax
Rate & Typical Bill

Homeowners in Summit, Cook County, pay about 2.05% of their home's value in property tax each year. The median bill is $5,476.

Summit, IL

Effective rate
2.05%
Median tax bill
$5,476
Median home value
$232,600
Owner-occupied homes
2,260
Rank in Cook County (1 = highest)
54 of 111

Cook County average: 1.73%

Estimated Yearly Tax by Home Value

At Summit's typical rate of 2.05%. Exemptions lower the real bill.

Home valueProperty tax (estimate)
$250,000$5,128
$350,000$7,179
$450,000$9,230
$600,000$12,306
$800,000$16,408

Can You Deduct It?

A family with a $232,600 home in Summit pays about $4,771 in property tax. With $120,000 of income they also pay about $5,940 in Illinois income tax, so their SALT deduction is $10,711 — under the $40,400 cap. That alone does not beat the $32,200 standard deduction for married couples; mortgage interest and charity decide the rest.

Run your own numbers

Compare Nearby Towns

TownCountyRateMedian bill
LyonsCook2.16%$6,016
JusticeCook2.41%$5,596
HodgkinsCook1.47%$6,738
RiversideCook2.38%$10,000+
StickneyCook2.23%$6,077
BrookfieldCook2.41%$8,049

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates. Unofficial estimate, not a tax bill. Updated 2026-10-08.

Property Tax FAQ

What is the property tax rate in Summit, IL?

Homeowners in Summit pay a typical effective property tax rate of 2.05% of home value per year. The median annual bill is $5,476 and the median home value is $232,600 (U.S. Census ACS 2020–2024).

How much is property tax on a $400,000 home in Summit?

About $8,204 per year at Summit's typical rate of 2.05%. The homeowner exemption and other exemptions lower the actual bill.

Is property tax in Summit higher than the Cook County average?

Summit's typical rate of 2.05% is higher than the Cook County average of 1.73%.

Can I deduct property taxes paid in Summit on my 2026 federal return?

Yes, if you itemize. For 2026, property tax plus Illinois income tax count toward the SALT deduction, capped at $40,400 ($20,200 if married filing separately) and reduced above $505,000 of income. Itemizing helps only if your total deductions beat the standard deduction: $32,200 married filing jointly, $16,100 single, $24,150 head of household.

Let a CPA Run Your Numbers

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