La Grange Park, Illinois Property Taxes
The median property tax rate in LA GRANGE PARK, IL is 2.64%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in LA GRANGE PARK at $289,175, the typical annual property tax bill reaches $7,707, exceeding the national median of $2,690. Property taxes in LA GRANGE PARK 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 LA GRANGE PARK'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 LA GRANGE PARK 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
La Grange Park, 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 La Grange Park, Illinois Tax Savings
Ownwell’s LA GRANGE PARK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA GRANGE PARK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA GRANGE PARK 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 LA GRANGE PARK. 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 La Grange Park, Illinois
Property taxes in LA GRANGE PARK, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA GRANGE PARK is 2.64%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within LA GRANGE PARK set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA GRANGE PARK 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 LA GRANGE PARK's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60526 ZIP code has both the highest and lowest median property tax rate of 2.64%. Understanding how these cities compare with LA GRANGE PARK 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 La Grange Park Tax Rate
2.64%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Grange Park, Illinois
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
60526 | 2.09% | 2.49% | 2.64% | 2.92% | 3.14% |
Source: Ownwell
$1,148
Average La Grange Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across La Grange Park, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in La Grange Park, Illinois. 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 La Grange Park, 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. With a median home price of $289,175, the tax bill at the 25th percentile is $6,051, while at the 75th percentile, it is $10,319. The highest and lowest median tax bills are both $7,707 in the zip code 60526. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across La Grange Park, Illinois
Source: Ownwell
$13,140
$631,570
$1,250,000
Average La Grange Park Assessed Value
$289,175
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 La Grange Park, Illinois
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
60526 | $192,216 | $247,515 | $289,175 | $383,128 | $508,861 |
Source: Ownwell
$1,148
Average La Grange Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across La Grange Park, Illinois
In LA GRANGE PARK, Cook County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to calculate the tax bill. Homeowners in LA GRANGE PARK face property tax bills that range significantly, with the 25th percentile at $6,051 and the 75th percentile reaching $10,319. The highest median tax bill recorded in the area is $7,707. Various factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. These taxes can place a significant financial burden on homeowners, especially in areas with higher property values. Ownwell can assist homeowners in LA GRANGE PARK by providing expert property tax appeal and exemption services. By ensuring that homes are accurately assessed and identifying potential exemptions, Ownwell helps homeowners reduce their property tax bills, resulting in substantial savings.
Average La Grange Park Tax Bill
$7,707
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across La Grange Park, Illinois
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
60526 | $3,481 | $6,051 | $7,707 | $10,319 | $13,870 |
Source: Ownwell
$1,148
Average La Grange Park 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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