Hickory Hills, Illinois Property Taxes
The median property tax rate in Hickory Hills, IL is 2.98%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Hickory Hills, the typical annual property tax bill reaches $5,494, exceeding the national median of $2,690. Property taxes in Hickory Hills 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 Hickory Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hickory Hills 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
Hickory Hills, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.98%
Estimate Property Tax Bill
$5,929
$5,793
$1,148
Average Hickory Hills, Illinois Tax Savings
Ownwell’s Hickory Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hickory Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hickory Hills 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 Hickory Hills. 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 Hickory Hills, Illinois
Property taxes in Hickory Hills, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hickory Hills is 2.98%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Hickory Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hickory Hills 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 Hickory Hills' effective property tax rate to other counties in Illinois and the national median. For comparison, the 60457 zip code has the highest median property tax rate of 2.98%, while the 60457 zip code also has the lowest median tax rate of 2.98%. Understanding how these cities compare with Hickory Hills 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 Hickory Hills Tax Rate
2.98%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hickory Hills, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60457 | 1.80% | 2.54% | 2.98% | 3.22% | 3.61% |
Source: Ownwell
$1,148
Average Hickory Hills Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Hickory Hills, Illinois
In Hickory Hills, Illinois, understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes. The market value represents the price a willing buyer would pay a willing seller in an open, 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 Hickory Hills, 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 these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Awareness of these valuation processes in Hickory Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hickory Hills is $198,950, with the highest and lowest median tax bill both recorded at $5,494 in zip code 60457.
Property Tax Assessment Values Across Hickory Hills, Illinois
Source: Ownwell
$13,140
$631,570
$1,250,000
Average Hickory Hills Assessed Value
$198,950
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 Hickory Hills, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60457 | $82,820 | $144,900 | $198,950 | $224,410 | $274,014 |
Source: Ownwell
$1,148
Average Hickory Hills Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Hickory Hills, Illinois
In Hickory Hills, located in Cook County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Hickory Hills is $198,950. The tax rate is applied to this assessed value to determine the annual tax bill. For homeowners here, property tax bills can vary significantly, ranging from $3,472 at the 25th percentile to $8,372 at the 90th percentile. The highest median tax bill in the area is $5,494, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and improvements made to the property. High property taxes can strain homeowners financially. Ownwell can assist by offering property tax appeal and exemption services. By analyzing your property’s assessed value and comparing it with similar properties, Ownwell identifies discrepancies and files appeals on your behalf, potentially saving you thousands of dollars on your property tax bill.
Average Hickory Hills Tax Bill
$5,494
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Hickory Hills, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60457 | $1,517 | $3,472 | $5,494 | $6,763 | $8,372 |
Source: Ownwell
$1,148
Average Hickory Hills 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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