West Dundee, Illinois Property Taxes
The median property tax rate in West Dundee, IL is 2.73%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in West Dundee at $275,420, the typical annual property tax bill reaches $7,417, far exceeding the national median of $2,690. Property taxes in West Dundee are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding West 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 West 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
West 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 WEST DUNDEE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WEST DUNDEE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WEST 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 West Dundee, Illinois
Property taxes in West Dundee, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Dundee is 2.73%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within West Dundee set these rates annually, and they can vary significantly across different neighborhoods. Each year, West 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 West Dundee's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60118 zip code has the highest median property tax rate of 2.73%, while the same zip code also has the lowest median tax rate of 2.73%. Understanding how these cities compare with West 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 West Dundee Tax Rate
2.73%
Average Kane County Tax Rate
2.60%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Dundee, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60118 | 2.44% | 2.64% | 2.73% | 2.78% | 2.94% |
Source: Ownwell
Property Tax Assessment Values Across West Dundee, Illinois
In West Dundee, 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 Kane 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 West 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. The highest median tax bill in West Dundee is $7,417 in the zip code 60118, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average West Dundee Assessed Value
$275,420
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 West Dundee, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60118 | $181,387 | $224,880 | $275,420 | $336,561 | $390,216 |
Source: Ownwell
Property Tax Bills Across West Dundee, Illinois
In West Dundee, located in Kane County, IL, property tax bills are calculated based on the assessed value of the property. The assessment is typically a percentage of the market value, which is then multiplied by the local tax rate to determine the tax bill. For homeowners in West Dundee, the property tax rate can significantly impact their annual expenses. The median home price in the area is $275,420, with tax bills ranging from $5,950 at the 25th percentile to $10,888 at the 90th percentile. Factors such as property improvements, neighborhood changes, and local government budgets can influence the assessed value and, consequently, the tax bill. Homeowners with a median tax bill of $7,417 in the 60118 zip code may find themselves paying higher taxes compared to the national median property tax rate of 0.99%. Understanding these elements can help homeowners anticipate their property tax obligations and manage their finances more effectively.
Average West Dundee Tax Bill
$7,417
Average Kane County Tax Bill
$6,484
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across West Dundee, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60118 | $4,311 | $5,950 | $7,417 | $9,282 | $10,888 |
Source: Ownwell