Berkeley, Illinois Property Taxes
The median property tax rate in Berkeley, IL is 3.56%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Berkeley at $180,325, the typical annual property tax bill reaches $6,294, far exceeding the national median of $2,690. Property taxes in Berkeley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Berkeley's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Berkeley or another part of Cook County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Berkeley, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.56%
Estimate Property Tax Bill
$6,420
$6,273
$1,148
Average Berkeley, Illinois Tax Savings
Ownwell’s Berkeley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Berkeley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berkeley 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 Berkeley. 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 Berkeley, Illinois
Property taxes in Berkeley, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Berkeley is 3.56%, significantly higher than the U.S. national median of 0.99%. Local government entities within Berkeley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berkeley 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 Berkeley's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60163 zip code has the highest median property tax rate of 3.56%, while the same zip code also has the lowest median tax rate of 3.56%. Understanding how these cities compare with Berkeley 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.
Average Berkeley Tax Rate
3.56%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berkeley, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60163 | 1.55% | 2.94% | 3.56% | 3.65% | 4.38% |
Source: Ownwell
$1,148
Average Berkeley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Berkeley, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Berkeley, IL. 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 Cook County 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 Berkeley, 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 Berkeley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $6,294 in zip code 60163, which is also the lowest.
Average Berkeley Assessed Value
$180,325
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 Berkeley, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60163 | $165,107 | $172,930 | $180,325 | $187,930 | $202,283 |
Source: Ownwell
$1,148
Average Berkeley Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Berkeley, Illinois
In Berkeley, IL, property tax bills are calculated based on the assessed value of your home, which is determined by the Cook County Assessor's Office. The assessed value is a percentage of your property's market value. For instance, with a median home price of $180,325, homeowners can expect a significant tax bill. Factors such as property improvements, neighborhood changes, and local government budgets can influence this assessed value. Homeowners in Berkeley face tax bills ranging from $5,271 at the 25th percentile to $7,929 at the 90th percentile, with the median tax bill in the 60163 zip code being $6,294. This is considerably higher than the national median property tax rate of 0.99%. Ownwell offers a solution by providing expert property tax appeal services. By analyzing your property's assessed value and comparing it to similar properties, Ownwell identifies discrepancies and files appeals to potentially lower your tax bill. This can result in substantial savings, ensuring you only pay your fair share.
Average Berkeley Tax Bill
$6,294
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Berkeley, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60163 | $2,564 | $5,271 | $6,294 | $6,890 | $7,929 |
Source: Ownwell
$1,148
Average Berkeley Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Tax Bill | |
| Issued | February 1 |
| Due Date #1 | March 1 |
| Due Date #2 | August 1 |
Links | |
|---|---|
| Cook Assessor’s Office | |
| Phone | (312) 443-7550 |
| Website | assessorpropertydetails.cookcountyil.gov |
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