Indian Head Park, Illinois Property Taxes
The median property tax rate in Indian Head Park, IL is 1.80%, which is considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Indian Head Park, the typical annual property tax bill reaches $104, exceeding the national median of $2,690. Property taxes in Indian Head 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 Indian Head 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 Indian Head 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
Indian Head Park, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$104
$101
Ownwell’s Indian Head Park Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Indian Head Park with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Indian Head Park to estimate your property tax bill. This valuable tool provides a clear understanding of potential tax liabilities. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Indian Head Park, Illinois
Property taxes in Indian Head Park, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Indian Head Park stands at 1.80%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Indian Head Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Indian Head 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 Indian Head Park's effective property tax rate to other areas in Illinois and the national median. For comparison, the 60525 zip code has the highest median property tax rate of 1.80%, while the same zip code also records the lowest median tax rate of 1.80%. Understanding how these areas compare with Indian Head Park 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 Indian Head Park Tax Rate
1.80%
Average Dupage County Tax Rate
2.22%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Indian Head Park, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60525 | 1.80% | 1.80% | 1.80% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Indian Head Park, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Indian Head Park, Illinois. 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 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 Indian Head 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. 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 Indian Head Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $5,760, with the highest and lowest median tax bills both recorded at $104 in zip code 60525.
Property Tax Assessment Values Across Indian Head Park, Illinois
Source: Ownwell
$2,760
$1,600,770
$3,198,780
Average Indian Head Park Assessed Value
$5,760
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 Indian Head Park, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60525 | $5,760 | $5,760 | $5,760 | $5,760 | $5,760 |
Source: Ownwell
Property Tax Bills Across Indian Head Park, Illinois
In Indian Head Park, located in DuPage County, IL, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is determined by the local assessor’s office and typically represents a percentage of the property's market value. In this region, the median home price is $5,760, and the property tax rate is applied to this assessed value to compute the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Indian Head Park can expect their tax bills to fall within a narrow range, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $104. This consistency suggests a stable property tax environment within the zip code 60525, where the highest and lowest median tax bills are also $104. For homeowners, understanding these factors is crucial as property taxes directly affect annual housing costs and can influence decisions on buying or selling property.
Average Indian Head Park Tax Bill
$104
Average Dupage County Tax Bill
$7,313
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Indian Head Park, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60525 | $104 | $104 | $104 | $104 | $104 |
Source: Ownwell