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Bellwood, Cook County, Illinois Property Taxes

  • Median Bellwood, IL effective property tax rate: 4.02%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.

  • Median Bellwood, IL home value: $155,390

  • Median annual Bellwood, IL tax bill: $5,850, $3,450 higher than the national median property tax bill of $2,400.

How are property taxes in Cook County calculated?

Property taxes in Bellwood, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Bellwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bellwood, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Bellwood, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

4.02%

Estimate Property Tax Bill

$6,247

$5,797

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Bellwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bellwood with just two data points. By entering your property's estimated assessed value, our calculator applies Bellwood’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Cook County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Bellwood, Cook County, Illinois

Local government entities are responsible for setting tax rates, which can differ significantly within a state. This occurs because each county annually estimates the budget required to provide services and divides it by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.

In Bellwood, located in Cook County, the effective property tax rate is notably higher compared to other cities in Illinois and the national average. This higher rate reflects the county's budgetary needs and the total assessed value of properties. Illinois generally has some of the highest property tax rates in the country, with Bellwood exemplifying this trend. For property owners, understanding these rates is crucial as they directly impact the annual tax bill. Comparing Bellwood’s rate to both the state and national medians highlights the significant variation in property tax burdens across different regions. As property taxes are a substantial expense for homeowners, staying informed about local tax rates is essential for financial planning and making informed decisions about property investments.

Property Tax Rates Across Bellwood, Cook County, Illinois

Source: Ownwell

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1.47%

4.93%

8.39%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Bellwood Tax Rate

4.02%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Cook County Tax Rate

2.01%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bellwood, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
601040.87%3.07%4.02%4.31%5.17%

Source: Ownwell

Property Tax Assessment Values Across Bellwood, Cook County, Illinois

When examining property taxes in Bellwood, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Cook County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Cook County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Bellwood.

For example, the median home price in Bellwood is $155,390, with tax bills ranging significantly across the county. ZIP code 60104 has the highest median home price at $155,390.

Property Tax Assessment Values Across Bellwood, Cook County, Illinois

Source: Ownwell

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$25,480

$637,740

$1,250,000

Median Bellwood Market Value

$155,390

Median Cook County Market Value

$210,000

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bellwood, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60104$103,246$140,090$155,390$172,230$181,970

Source: Ownwell

Property Tax Bills Across Bellwood, Cook County, Illinois

In Bellwood, located in Cook County, IL, property tax bills are determined by assessing the value of a home, which is then multiplied by the local tax rate. The median home price in Bellwood is $155,390, and the tax bill can range significantly, with the 25th percentile at $3,396 and the 75th percentile reaching $7,198. The highest median tax bill in the area is $5,850, which interestingly is also the lowest median tax bill recorded in the same zip code, 60104. This variability in tax bills can significantly impact homeowners, as the national median property tax rate is 1.02% and the median property tax bill is $2,400, making Bellwood's tax burden notably higher. Factors such as changes in assessed value and local tax levies can influence the final tax amount. Ownwell offers a solution for homeowners by providing property tax appeal and exemption services, potentially lowering tax bills and alleviating financial pressure. By leveraging expertise in local tax regulations, Ownwell can help homeowners achieve substantial savings on their property taxes.

Property Tax Bills Across Bellwood, Cook County, Illinois

Source: Ownwell

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$569

$15,332

$30,094

Median Bellwood Tax Bill

$5,850

Median Cook County Tax Bill

$4,680

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Bellwood, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60104$1,140$3,396$5,850$7,198$8,091

Source: Ownwell

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