Norridge, Illinois Property Taxes
The median property tax rate in Norridge, IL is 1.69%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Norridge at $320,000, the typical annual property tax bill reaches $5,280, exceeding the national median of $2,690. Property taxes in Norridge 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 Norridge'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 Norridge 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
Norridge, 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 Norridge, Illinois Tax Savings
Ownwell’s Norridge Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Norridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norridge 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 Norridge. 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 Norridge, Illinois
Property taxes in Norridge, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Norridge is 1.69%, significantly higher than the U.S. national median of 0.99%. Local government entities within Norridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norridge 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 Norridge's effective property tax rate to other areas in Illinois and the national median. For comparison, the 60706 zip code has the highest median property tax rate of 1.69%, while also having the lowest median tax rate of 1.69%. Understanding how these areas compare with Norridge 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 Norridge Tax Rate
1.69%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Norridge, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60706 | 0.99% | 1.40% | 1.69% | 1.89% | 2.08% |
Source: Ownwell
$1,148
Average Norridge Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Norridge, Illinois
In Norridge, 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 Norridge, 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 Norridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Norridge is $320,000, with tax bills ranging from $3,916 at the 25th percentile to $7,529 at the 90th percentile. The zip code 60706 has both the highest and lowest median tax bill at $5,280.
Average Norridge Assessed Value
$320,000
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 Norridge, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60706 | $225,630 | $290,000 | $320,000 | $360,000 | $415,670 |
Source: Ownwell
$1,148
Average Norridge Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Norridge, Illinois
In Norridge, Cook County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, and the current median home price in Norridge is $320,000. Factors such as property size, location, and improvements can influence this assessment. Homeowners in Norridge face a median property tax rate of 1.65%, significantly higher than the national median of 0.99%. This results in substantial tax bills, with the 25th percentile at $3,916 and the 75th percentile reaching $6,307. Ownwell can help homeowners in Norridge save on their property tax bills by providing expert property tax appeal and exemption services. By thoroughly reviewing assessments and identifying discrepancies, Ownwell ensures homeowners are not overpaying. Additionally, Ownwell assists in filing for eligible exemptions, further reducing the tax burden. This proactive approach can lead to significant savings, providing financial relief to property owners in Cook County.
Average Norridge Tax Bill
$5,280
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Norridge, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60706 | $2,459 | $3,916 | $5,280 | $6,307 | $7,529 |
Source: Ownwell
$1,148
Average Norridge 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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