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Barrington Hills, Illinois Property Taxes

The median property tax rate in Barrington Hills, IL is 1.87%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Barrington Hills at $710,000, the typical annual property tax bill reaches $13,019, exceeding the national median of $2,690. Property taxes in Barrington Hills 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 Barrington Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Barrington Hills 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

Barrington Hills, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

1.87%

Estimate Property Tax Bill

$13,277

$12,321

SAVE WITH OWNWELL

$1,148

Average Tax Savings

Ownwell’s Barrington Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barrington Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barrington Hills to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Barrington Hills. 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 Barrington Hills, Illinois

Property taxes in Barrington Hills, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barrington Hills is 1.87%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Barrington Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barrington Hills 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 Barrington Hills' effective property tax rate to other counties in Illinois and the national median. For comparison, the 60010 zip code has the highest median property tax rate of 1.87%, while the same zip code also has the lowest median tax rate of 1.87%. Understanding how these cities compare with Barrington Hills provides valuable insights into the varying tax landscape across Cook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Barrington Hills, Illinois

Source: Ownwell

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1.46%

4.93%

8.39%

Average Barrington Hills Tax Rate

1.87%

Average Cook County Tax Rate

2.01%

Average Illinois Tax Rate

2.35%

Average United States Tax Rate

0.99%

Property Tax Rates Across Barrington Hills, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
600101.51%1.74%1.87%2.36%2.49%

Source: Ownwell

Property Tax Assessment Values Across Barrington Hills, Illinois

In Barrington Hills, 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 Cook 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 Barrington Hills, 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 Barrington Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 60010 has both the highest and lowest median tax bills, each at $13,019.

Property Tax Assessment Values Across Barrington Hills, Illinois

Source: Ownwell

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$13,140

$631,570

$1,250,000

Average Barrington Hills Assessed Value

$710,000

Average Cook County Assessed Value

$210,000

Average Illinois Assessed Value

$194,700

Average United States Assessed Value

$244,900

Property Tax Assessment Values Across Barrington Hills, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60010$528,204$550,520$710,000$930,000$1,851,734

Source: Ownwell

Property Tax Bills Across Barrington Hills, Illinois

In Barrington Hills, located in Cook County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the tax bill. With a median home price of $710,000, homeowners can expect varying tax bills. For instance, the 25th percentile tax bill is $12,324, while the 75th percentile reaches $16,912. The highest median tax bill in the area is $13,019, found in the 60010 zip code. Several factors influence these tax bills, such as property size, location, and any applicable exemptions. High property taxes can significantly impact homeowners, leading to financial strain or reduced property values. Ownwell offers a solution by providing property tax appeal and exemption services. By leveraging their expertise, homeowners can potentially lower their assessed values, resulting in reduced tax bills and substantial savings. Ownwell's services ensure that homeowners are not overpaying and can enjoy financial relief.

Property Tax Bills Across Barrington Hills, Illinois

Source: Ownwell

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$453

$15,274

$30,094

Average Barrington Hills Tax Bill

$13,019

Average Cook County Tax Bill

$4,680

Average Illinois Tax Bill

$4,715

Average United States Tax Bill

$2,690

Property Tax Bills Across Barrington Hills, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60010$11,081$12,324$13,019$16,912$36,522

Source: Ownwell

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