Elmhurst, Illinois Property Taxes
The median property tax rate in Elmhurst, IL is 1.75%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Elmhurst at $186,990, the typical annual property tax bill reaches $3,260, exceeding the national median of $2,690. Property taxes in Elmhurst 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 Elmhurst'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 Elmhurst 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
Elmhurst, 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 Elmhurst, Illinois Tax Savings
Ownwell’s Elmhurst Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Elmhurst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elmhurst to estimate your property tax bill. This valuable tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Elmhurst. 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 Elmhurst, Illinois
Property taxes in Elmhurst, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elmhurst is 1.75%, significantly higher than the U.S. national median of 0.99%. Local government entities within Elmhurst set these rates annually, and they can vary across different neighborhoods. Each year, Elmhurst 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 Elmhurst's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60126 zip code has the highest median property tax rate of 1.75%, while the 60126 zip code also has the lowest median tax rate of 1.75%. Understanding how these cities compare with Elmhurst 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 Elmhurst Tax Rate
1.75%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elmhurst, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60126 | 1.44% | 1.68% | 1.75% | 1.88% | 2.12% |
Source: Ownwell
$1,148
Average Elmhurst Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Elmhurst, Illinois
In Elmhurst, 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 Elmhurst, 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. For instance, the median home price in Elmhurst is $186,990, with the 25th percentile tax bill at $2,866 and the 75th percentile tax bill at $3,898. The highest median tax bill in Elmhurst is $3,260, found in the 60126 zip code, which also has the lowest. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Elmhurst Assessed Value
$186,990
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 Elmhurst, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60126 | $137,556 | $177,665 | $186,990 | $203,540 | $255,606 |
Source: Ownwell
$1,148
Average Elmhurst Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Elmhurst, Illinois
In Elmhurst, IL, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the tax rate set by local government entities. For homeowners in Elmhurst, the median home price is $186,990, with tax bills ranging from $2,866 at the 25th percentile to $4,646 at the 90th percentile. The median tax bill stands at $3,260, which is significantly higher than the national median property tax rate of 0.99%. Various factors influence the tax bill, including changes in property values, local government budgets, and public service funding needs. High property taxes can place a financial strain on homeowners, making it crucial to ensure assessments are accurate. Ownwell can help homeowners in Elmhurst save on their property tax bills by providing expert property tax appeal services. Our team reviews property assessments, identifies discrepancies, and files appeals to ensure fair taxation, potentially saving homeowners hundreds or even thousands of dollars annually.
Average Elmhurst Tax Bill
$3,260
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Elmhurst, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60126 | $2,147 | $2,866 | $3,260 | $3,898 | $4,646 |
Source: Ownwell
$1,148
Average Elmhurst 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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