Matteson, Illinois Property Taxes
The median property tax rate in Matteson, IL is 4.20%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Matteson, the typical annual property tax bill reaches $5,946, exceeding the national median of $2,690. Property taxes in Matteson 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 Matteson'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 Matteson 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
Matteson, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.2%
Estimate Property Tax Bill
$6,102
$5,963
$1,148
Average Matteson, Illinois Tax Savings
Ownwell’s Matteson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Matteson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Matteson 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 Matteson. 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 Matteson, Illinois
Property taxes in Matteson, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Matteson is 4.20%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Matteson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Matteson 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 Matteson's effective property tax rate to other areas in Illinois and the national median. For comparison, the 60443 zip code has the highest median property tax rate of 4.20%, while the same zip code also represents the lowest median tax rate of 4.20%. Understanding how these areas compare with Matteson 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 Matteson Tax Rate
4.20%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Matteson, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60443 | 2.29% | 3.40% | 4.20% | 4.80% | 5.40% |
Source: Ownwell
$1,148
Average Matteson Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Matteson, Illinois
In Matteson, 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 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 Matteson, 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 Matteson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Matteson is $145,290, with tax bills ranging from $3,989 at the 25th percentile to $11,510 at the 90th percentile. The highest and lowest median tax bills are both $5,946 in the 60443 zip code.
Average Matteson Assessed Value
$145,290
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 Matteson, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60443 | $77,960 | $114,510 | $145,290 | $200,520 | $246,358 |
Source: Ownwell
$1,148
Average Matteson Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Matteson, Illinois
In Matteson, property tax bills are calculated based on the assessed value of a home, which is determined by the Cook County Assessor's Office. The assessed value is a percentage of the home's market value, which is then multiplied by the local tax rate. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in Matteson, property tax bills can vary significantly, with the 25th percentile at $3,989 and the 90th percentile reaching up to $11,510. This variability in tax bills can have a substantial impact on household budgets. Ownwell can assist homeowners in Matteson by reviewing their property assessments to ensure accuracy and identifying any potential errors that could lead to overpayment. By filing appeals and seeking exemptions, Ownwell helps reduce the assessed value, thereby lowering the overall tax burden. This service can provide significant savings, especially in a county where the highest median tax bill reaches $5,946, compared to the national median property tax rate of 0.99%.
Average Matteson Tax Bill
$5,946
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Matteson, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60443 | $2,344 | $3,989 | $5,946 | $8,705 | $11,510 |
Source: Ownwell
$1,148
Average Matteson 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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