Calumet City, Illinois Property Taxes
The median property tax rate in Calumet City, IL is 4.73%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Calumet City at $72,780, the typical annual property tax bill reaches $3,390, exceeding the national median of $2,690. Property taxes in Calumet City 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 Calumet City'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 Calumet City 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
Calumet City, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
$3,552
$1,148
Average Calumet City, Illinois Tax Savings
Ownwell’s Calumet City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calumet City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calumet City 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 Calumet City. 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 Calumet City, Illinois
Property taxes in Calumet City, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calumet City is 4.73%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Calumet City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calumet City 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 Calumet City's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60409 zip code has the highest median property tax rate of 4.73%, while the same zip code also has the lowest median tax rate of 4.73%. Understanding how these cities compare with Calumet City 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 Calumet City Tax Rate
4.73%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calumet City, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60409 | 1.38% | 3.68% | 4.73% | 7.39% | 8.36% |
Source: Ownwell
$1,148
Average Calumet City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Calumet City, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Calumet City, 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 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 Calumet City, 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. For instance, the median home price in Calumet City is $72,780, with annual tax bills ranging from $2,272 at the 25th percentile to $6,901 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Calumet City, Illinois
Source: Ownwell
$13,140
$631,570
$1,250,000
Average Calumet City Assessed Value
$72,780
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 Calumet City, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60409 | $37,128 | $64,160 | $72,780 | $107,270 | $119,194 |
Source: Ownwell
$1,148
Average Calumet City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Calumet City, Illinois
In Calumet City, property tax bills are calculated based on the assessed value of a property, which is determined by the Cook County Assessor's Office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For homeowners, this means that fluctuations in the housing market and changes in local tax rates can significantly impact their property tax bills. The median home price in Calumet City is $72,780, with annual tax bills ranging from $2,272 at the 25th percentile to $6,901 at the 90th percentile. The median property tax rate in this area is notably higher than the national median of 0.99%. Ownwell helps homeowners save on their property tax bills by offering expert property tax appeal and exemption services. By identifying discrepancies in assessed values and ensuring all eligible exemptions are applied, Ownwell can help reduce the financial burden on homeowners.
Average Calumet City Tax Bill
$3,390
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Calumet City, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60409 | $811 | $2,272 | $3,390 | $5,719 | $6,901 |
Source: Ownwell
$1,148
Average Calumet City 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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