Kildeer, Illinois Property Taxes
The median property tax rate in Kildeer, IL is 2.55%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Kildeer at $605,367, the typical annual property tax bill reaches $16,367, far exceeding the national median of $2,690. Property taxes in Kildeer 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 Kildeer'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 Kildeer 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
Kildeer, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.55%
Estimate Property Tax Bill
$15,437
$15,084
Ownwell’s Kildeer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kildeer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kildeer 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 Kildeer, Illinois
Property taxes in Kildeer, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kildeer is 2.55%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Kildeer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kildeer 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 Kildeer's effective property tax rate to other areas in Illinois and the national median. For comparison, the 60047 zip code has the highest median property tax rate of 2.55%, while the 60010 zip code has the lowest median tax rate of 2.45%. Understanding how these areas compare with Kildeer provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kildeer Tax Rate
2.55%
Average Lake County Tax Rate
2.94%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kildeer, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60010 | 2.45% | 2.45% | 2.45% | 2.45% | 2.45% |
| 60047 | 2.38% | 2.44% | 2.55% | 3.13% | 3.18% |
Source: Ownwell
Property Tax Assessment Values Across Kildeer, Illinois
In Kildeer, 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 Lake 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 Kildeer, 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 Kildeer is $605,367, with tax bills ranging significantly across different percentiles. The highest median tax bill is $16,370 in zip code 60047, while the lowest is $15,792 in zip code 60010. 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 valuation processes in Kildeer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kildeer Assessed Value
$605,367
Average Lake County Assessed Value
$260,862
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kildeer, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60010 | $644,150 | $644,150 | $644,150 | $644,150 | $644,150 |
| 60047 | $448,289 | $517,762 | $605,192 | $729,094 | $923,631 |
Source: Ownwell
Property Tax Bills Across Kildeer, Illinois
In Kildeer, located in Lake County, IL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value, determined by the county assessor. Homeowners in Kildeer face a property tax rate that can lead to significant annual tax bills. For instance, the median home price in Kildeer is $605,367, and property tax bills can vary widely. At the 25th percentile, homeowners might see tax bills around $13,016, while those at the 75th percentile could face bills as high as $20,653. The highest median tax bill in the area is approximately $16,370 in the 60047 zip code, compared to the lowest median tax bill of $15,792 in the 60010 zip code. These figures highlight the impact of assessed property values and local tax rates on homeowners, often resulting in substantial financial obligations. With the national median property tax rate at 0.99%, Kildeer's rates are notably higher, reflecting the area's property values and tax policies.
Average Kildeer Tax Bill
$16,367
Average Lake County Tax Bill
$7,861
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Kildeer, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60010 | $15,792 | $15,792 | $15,792 | $15,792 | $15,792 |
| 60047 | $10,832 | $13,015 | $16,370 | $20,653 | $28,576 |
Source: Ownwell