Both states have flat income taxes, but the comparison isn't straightforward. Illinois: 4.95% flat, NO local income tax. Indiana: 3.15% state + 0.5-2.9% county tax = 3.65-6.05% total. CRITICAL: 91 of Indiana's 92 counties levy income tax. Marion County (Indianapolis): 2.02% = 5.17% total. Lake County (near Chicago): 1.5% = 4.65% total. At $100,000: Illinois ~$4,950 vs Indiana (Marion) ~$5,170—Illinois is CHEAPER in Indianapolis! The math only favors Indiana in low-tax counties like Hamilton (0.84% = $3,990 total). Property taxes: Illinois 2.23% vs Indiana 0.84%—Indiana wins big here. Choose Illinois if: you're in Indianapolis metro, want simpler filing, or value Chicago job market. Choose Indiana if: you're in a low-county-tax area, own expensive property, or are retired.

By CountryTaxCalc Research Team

Last Updated: March 2026

The Big Picture

🏙️ Illinois

4.95%

Flat Tax

No local income tax

🏎️ Indiana

3.15%

Flat Tax

Plus 0.5-2.9% county tax

Typical Annual Savings

At $100,000 (county dependent) income:

-$220 to +$2,000

That is Varies by county back in your pocket!

Tax Savings by Income Level

IncomeIL TaxIN TaxSavings10-Year
$50,000 (Marion County) ~$2,475 (4.95%)~$2,585 (3.15% + 2.02%)Illinois saves $110$1,100
$75,000 (Hamilton County) ~$3,713 (4.95%)~$2,993 (3.15% + 0.84%)Indiana saves $720$7,200
$100,000 (Lake County) ~$4,950~$4,650 (3.15% + 1.5%)Indiana saves $300$3,000
$100,000 + $400K home ~$4,950 + $8,920 property~$5,170 + $3,360 propertyIndiana saves ~$5,340 total$53,400
$150,000 (Marion County) ~$7,425~$7,755Illinois saves $330$3,300

Illinois Pros and Cons

✅ Pros

  • No local income tax: Your rate is 4.95%, period—no county-level complexity or varying rates
  • Chicago job market: Higher salaries for tech, finance, law—often 20-30% above Indianapolis
  • O'Hare hub: International connectivity for business travel unmatched in Midwest
  • Progressive politics: May align better with certain lifestyle preferences

❌ Cons

  • Highest property taxes in Midwest: 2.23% average vs Indiana's 0.84%—$400K home = $8,920/year
  • Chicago crime concentrated: While suburbs safe, city perception affects property values
  • Pension crisis: Illinois has $140B+ unfunded pension liability—future tax hikes likely
  • Flat tax ceiling: 4.95% hits from first dollar—no low-income benefit

Indiana Pros and Cons

✅ Pros

  • Lower property taxes: 0.84% average saves thousands on expensive homes annually
  • Lower state rate: 3.15% base is 1.8 points below Illinois (matters in low-tax counties)
  • Indianapolis growth: Booming tech scene, lower cost of living than Chicago
  • Tax caps: Property tax limited to 1% of assessed value for homesteads

❌ Cons

  • Hidden county taxes: 91 of 92 counties add 0.5-2.9%—Marion County brings total to 5.17%
  • Filing complexity: Must navigate county-specific rules, rates change frequently
  • Lower salaries: Indianapolis median income 15-20% below Chicago for equivalent roles
  • Infrastructure spending: Lower taxes = less funding for transit, roads in some areas
💡

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Frequently Asked Questions

Q: Is Indiana really cheaper than Illinois for taxes?

Not always! Indiana's 3.15% state rate is lower, but 91 of 92 counties levy additional income tax (0.5-2.9%). Marion County (Indianapolis) adds 2.02% = 5.17% total, MORE than Illinois's 4.95%. Indiana only wins clearly in low-tax counties like Hamilton (0.84%) or Hendricks (1.25%). Always add your specific county rate.

Q: What's the best Indiana county for low taxes near Chicago?

Lake County (Gary, Crown Point, Schererville) is closest to Chicago with a 1.5% county rate = 4.65% total, saving 0.3% over Illinois. Porter County is 1.72% = 4.87% total. LaPorte County is 1.44% = 4.59% total. Savings are modest—commute and property taxes matter more.

Q: How do property taxes compare between Illinois and Indiana?

Indiana wins decisively. Illinois: 2.23% average (highest in Midwest). Indiana: 0.84% average with 1% homestead cap. On a $400,000 home: Illinois ~$8,920/year, Indiana ~$3,360/year = $5,560 annual savings. This often outweighs income tax differences.

Q: Should I move from Chicago suburbs to Indiana?

Depends on your situation. If your Indiana county rate keeps total under 4.95%, and you own an expensive home (property tax savings), Indiana wins. But Chicago salaries are 15-30% higher for many fields. A $20,000 salary cut to save $2,000 in taxes is a bad trade. Retirement relocations make more sense than working-age moves.

Q: Do both states tax retirement income?

Partial taxation in both. Illinois exempts Social Security and most retirement income (pensions, 401k, IRA) from state tax—major retiree benefit. Indiana taxes retirement income but excludes $3,000/person from pensions/401k (modest exemption). For retirees, Illinois is actually more favorable despite higher rates.

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