Brookfield, Illinois Property Taxes
The median property tax rate in Brookfield, IL is 3.27%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Brookfield at $211,245, the typical annual property tax bill reaches $6,351, exceeding the national median of $2,690. Property taxes in Brookfield are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brookfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Brookfield or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brookfield, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
$3,552
$1,148
Average Brookfield, Illinois Tax Savings
Ownwell’s Brookfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brookfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brookfield to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Brookfield. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Brookfield, Illinois
Property taxes in Brookfield, Illinois, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Brookfield is 3.27%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Brookfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brookfield estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Brookfield's effective property tax rate to other areas in Cook County and the national median. For comparison, the zip code 60513 has the highest median property tax rate of 3.27%, while the same zip code also has the lowest median tax rate of 3.27%. Understanding how these cities compare with Brookfield provides valuable insights into the varying tax landscape across Cook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brookfield Tax Rate
3.27%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brookfield, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60513 | 2.24% | 2.78% | 3.27% | 3.45% | 3.94% |
Source: Ownwell
$1,148
Average Brookfield Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Brookfield, Illinois
In BROOKFIELD, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Cook County Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In BROOKFIELD, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in BROOKFIELD helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in BROOKFIELD is $6,351 in the 60513 zip code.
Average Brookfield Assessed Value
$211,245
Average Cook County Assessed Value
$210,000
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brookfield, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60513 | $104,107 | $165,160 | $211,245 | $234,770 | $271,376 |
Source: Ownwell
$1,148
Average Brookfield Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Brookfield, Illinois
Property tax bills in Brookfield, Cook County, IL, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which in Brookfield, with a median home price of $211,245, significantly influences the tax bill. Factors such as property size, location, and improvements also impact the assessed value. Homeowners in Brookfield face property tax bills ranging from $4,166 at the 25th percentile to $9,211 at the 90th percentile, with a median tax bill of $6,351. High property taxes can be a burden, but Ownwell offers a solution. By providing professional property tax appeal and exemption services, Ownwell helps homeowners ensure their property is fairly assessed. This can lead to significant reductions in tax bills, providing financial relief. With expert knowledge and a proven track record, Ownwell maximizes savings for homeowners, making property ownership more affordable.
Average Brookfield Tax Bill
$6,351
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Brookfield, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60513 | $2,501 | $4,166 | $6,351 | $7,785 | $9,211 |
Source: Ownwell
$1,148
Average Brookfield Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Tax Bill | |
| Issued | February 1 |
| Due Date #1 | March 1 |
| Due Date #2 | August 1 |
Links | |
|---|---|
| Cook Assessor’s Office | |
| Phone | (312) 443-7550 |
| Website | assessorpropertydetails.cookcountyil.gov |
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