Evergreen Park, Illinois Property Taxes
The median property tax rate in Evergreen Park, IL is 1.94%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Evergreen Park, the typical annual property tax bill reaches $2,091, slightly below the national median of $2,690. Property taxes in Evergreen 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 Evergreen 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 Evergreen 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
Evergreen Park, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$2,088
$2,041
Ownwell’s Evergreen Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Evergreen Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Evergreen Park 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 Evergreen Park, Illinois
Property taxes in Evergreen Park, Illinois, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Evergreen Park is 1.94%, significantly higher than the U.S. national median of 0.99%. Local government entities within Evergreen Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Evergreen 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 Evergreen Park's effective property tax rate to other areas in Illinois and the national median. For comparison, the 60805 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 figures compare with Evergreen 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 Evergreen Park 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 Evergreen Park, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60805 | 1.94% | 1.94% | 1.94% | 1.94% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Evergreen Park, Illinois
In Evergreen Park, 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 Evergreen 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. For instance, the median home price in Evergreen Park is $107,640, with tax bills ranging from $1,555 at the 25th percentile to $2,949 at the 90th percentile. The highest and lowest median tax bills are both $2,091 in zip code 60805. 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 Evergreen Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Evergreen Park, Illinois
Source: Ownwell
$2,760
$1,600,770
$3,198,780
Average Evergreen Park Assessed Value
$107,640
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 Evergreen Park, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60805 | $63,504 | $80,055 | $107,640 | $135,225 | $151,776 |
Source: Ownwell
Property Tax Bills Across Evergreen Park, Illinois
In Evergreen Park, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as property location, improvements, and market conditions can influence the assessed value. For example, with a median home price of $107,640, homeowners might expect a tax bill around the median national rate of 0.99%. However, in Evergreen Park, the tax bills can vary significantly. At the 25th percentile, tax bills are approximately $1,555, while at the 75th percentile, they rise to about $2,627. The highest median tax bill recorded is $2,091 in the zip code 60805. Homeowners need to be aware of these variations, as they can impact annual budgeting and long-term financial planning. Understanding how these factors come together helps homeowners anticipate their property tax obligations more accurately.
Average Evergreen Park Tax Bill
$2,091
Average Dupage County Tax Bill
$7,313
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Evergreen Park, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60805 | $1,234 | $1,555 | $2,091 | $2,627 | $2,949 |
Source: Ownwell