Blue Island, Illinois Property Taxes
The median property tax rate in Blue Island, IL is 3.29%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Blue Island, the typical annual property tax bill reaches $3,091, exceeding the national median of $2,690. Property taxes in Blue Island 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 Blue Island'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 Blue Island 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
Blue Island, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.29%
Estimate Property Tax Bill
$3,358
$3,116
$1,148
Average Tax Savings
Ownwell’s Blue Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blue Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blue Island 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 Blue Island. 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 Blue Island, Illinois
Property taxes in Blue Island, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blue Island is 3.29%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Blue Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blue Island 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 Blue Island's effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 60406 has the highest median property tax rate of 3.29%, while the same zip code also has the lowest median tax rate of 3.29%. Understanding how these cities compare with Blue Island 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 Blue Island Tax Rate
3.29%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blue Island, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60406 | 1.42% | 2.59% | 3.29% | 4.30% | 4.70% |
Source: Ownwell
$1,148
Average Blue Island Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Blue Island, Illinois
In Blue Island, 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 Appraisal District 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 Blue Island, 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 Blue Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $3,091, found in zip code 60406.
Average Blue Island Assessed Value
$102,075
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 Blue Island, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60406 | $35,545 | $73,370 | $102,075 | $126,748 | $154,675 |
Source: Ownwell
$1,148
Average Blue Island Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Blue Island, Illinois
In Blue Island, Cook County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Blue Island is $102,075, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate. Homeowners in Blue Island face tax bills ranging from $1,679 at the 25th percentile to $5,981 at the 90th percentile, with the median tax bill being $3,091, which is significantly higher than the national median property tax rate of 0.99%. Ownwell can help homeowners in Blue Island save on their property tax bills by providing expert property tax appeal and exemption services. Our team analyzes your property's assessed value, identifies discrepancies, and files appeals to ensure you are not overpaying. By leveraging our expertise, you can potentially lower your tax bill and save money annually.
Average Blue Island Tax Bill
$3,091
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Blue Island, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60406 | $920 | $1,679 | $3,091 | $4,449 | $5,981 |
Source: Ownwell
$1,148
Average Blue Island 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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