Elmhurst, Illinois Property Taxes
The median property tax rate in Elmhurst, IL is 1.94%, 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 $450,945, the typical annual property tax bill reaches $8,685, 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
Ownwell’s Elmhurst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner 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 insightful tool helps you understand potential tax liabilities. 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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elmhurst is 1.94%, significantly higher than the U.S. national median of 0.99%. Local government entities within Elmhurst set these rates annually, and they can vary significantly 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 areas in DuPage County and the national median. For comparison, the 60126 zip code has the highest median property tax rate of 1.94%, while the same zip code also has the lowest median tax rate of 1.94%. Understanding how these cities compare with Elmhurst provides valuable insights into the varying tax landscape across DuPage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elmhurst Tax Rate
1.94%
Average Dupage County Tax Rate
2.22%
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 | 1.73% | 1.88% | 1.94% | 1.98% | 2.00% |
Source: 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 DuPage County Appraisal District 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. Elmhurst's median home price stands at $450,945, with tax bills ranging from $6,522 at the 25th percentile to $18,975 at the 90th percentile. The highest and lowest median tax bills are both $8,685 in the 60126 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Elmhurst Assessed Value
$450,945
Average Dupage County Assessed Value
$319,350
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 | $264,060 | $347,520 | $450,945 | $688,275 | $954,900 |
Source: Ownwell
Property Tax Bills Across Elmhurst, Illinois
In Elmhurst, located in DuPage County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, which is periodically evaluated by local assessors. Various factors influence the assessed value, including the property's size, age, location, and any improvements made. Homeowners in Elmhurst face property tax bills that vary significantly. For instance, the 25th percentile tax bill stands at $6,522, while the 75th percentile reaches $13,543, and the 90th percentile climbs to $18,975. The median home price in Elmhurst is $450,945, which can result in a substantial tax burden compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in Elmhurst are both recorded at $8,685, indicating a consistent tax rate within the zip code 60126. These taxes fund essential community services like public schools, infrastructure, and emergency services, directly impacting the quality of life for Elmhurst residents.
Average Elmhurst Tax Bill
$8,685
Average Dupage County Tax Bill
$7,313
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 | $4,568 | $6,522 | $8,685 | $13,543 | $18,975 |
Source: Ownwell