East Dundee, Illinois Property Taxes
The median property tax rate in East Dundee, IL is 2.59%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in East Dundee, the typical annual property tax bill reaches $5,143, exceeding the national median of $2,690. Property taxes in East Dundee 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 East Dundee'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 East Dundee 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
East Dundee, 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 East Dundee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Dundee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Dundee 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 East Dundee, Illinois
Property taxes in East Dundee, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Dundee is 2.59%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within East Dundee set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Dundee 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 East Dundee's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 60118 has the highest median property tax rate of 2.59%, while the same zip code also has the lowest median tax rate of 2.59%. Understanding how these cities compare with East Dundee provides valuable insights into the varying tax landscape across Kane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Dundee Tax Rate
2.59%
Average Kane County Tax Rate
2.60%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Dundee, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60118 | 2.13% | 2.47% | 2.59% | 2.65% | 2.86% |
Source: Ownwell
Property Tax Assessment Values Across East Dundee, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in East Dundee, 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 Kane 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 East Dundee, 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 East Dundee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $5143, notably found in the 60118 zip code.
Average East Dundee Assessed Value
$202,712
Average Kane County Assessed Value
$253,745
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Dundee, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60118 | $142,107 | $179,630 | $202,712 | $239,618 | $309,745 |
Source: Ownwell
Property Tax Bills Across East Dundee, Illinois
In East Dundee, located in Kane County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the tax bill. For instance, with a median home price of $202,712, homeowners can expect varying tax bills depending on their home's assessed value and specific tax rate. In East Dundee, the 25th percentile tax bill is around $4,418, while the 75th percentile reaches approximately $6,191, and the 90th percentile can go as high as $8,216. These figures highlight the significant range of property tax bills that homeowners may face. Compared to the national median property tax rate of 0.99%, East Dundee’s tax bills can be relatively high, impacting homeowners' annual expenses considerably. Factors such as local government budgets, school funding, and municipal services play crucial roles in determining these rates, ultimately affecting the financial responsibilities of homeowners in the area.
Average East Dundee Tax Bill
$5,143
Average Kane County Tax Bill
$6,484
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across East Dundee, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60118 | $3,124 | $4,418 | $5,143 | $6,191 | $8,216 |
Source: Ownwell