Kirkland, Illinois Property Taxes
The median property tax rate in Kirkland, IL is 2.56%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $243,076 in Kirkland, the typical annual property tax bill reaches $6,326, far exceeding the national median of $2,690. Property taxes in Kirkland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kirkland'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 Kirkland 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
Kirkland, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.56%
Estimate Property Tax Bill
$6,223
$5,775
Ownwell’s Kirkland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kirkland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kirkland 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 Kirkland, Illinois
Property taxes in Kirkland, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kirkland is 2.56%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Kirkland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kirkland 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 Kirkland's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60146 zip code has the highest median property tax rate of 2.56%, while the same zip code also has the lowest median tax rate of 2.56%. Understanding how these cities compare with Kirkland provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kirkland Tax Rate
2.56%
Average Boone County Tax Rate
2.69%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kirkland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60146 | 2.27% | 2.39% | 2.56% | 2.77% | 2.80% |
Source: Ownwell
Property Tax Assessment Values Across Kirkland, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kirkland, 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 Boone 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 Kirkland, 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. Kirkland has a median home price of $243,076, with tax bills ranging from $4,086 at the 25th percentile to $10,236 at the 90th percentile. The highest and lowest median tax bills are both $6,326, found in the 60146 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kirkland Assessed Value
$243,076
Average Boone County Assessed Value
$166,186
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kirkland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60146 | $124,005 | $167,497 | $243,076 | $315,787 | $398,029 |
Source: Ownwell
Property Tax Bills Across Kirkland, Illinois
In Kirkland, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the Boone County assessor. The assessed value is typically a percentage of the home's market value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Factors such as property improvements, location, and changes in the housing market can influence the assessed value. For homeowners in Kirkland, the median home price is $243,076. Tax bills can vary significantly, with the 25th percentile at $4,086 and the 75th percentile at $7,960, reflecting differences in home values and applicable exemptions. The tax bill can reach up to $10,236 for those in the 90th percentile. Comparatively, the national median property tax rate is 0.99%, making Kirkland's rates relatively high. These property taxes are crucial for funding local services but can also impact affordability for homeowners.
Average Kirkland Tax Bill
$6,326
Average Boone County Tax Bill
$4,339
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Kirkland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60146 | $3,295 | $4,086 | $6,326 | $7,960 | $10,236 |
Source: Ownwell