Chicago Hts, Illinois Property Taxes
The median property tax rate in Chicago Heights, IL is 6.15%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Chicago Heights at $21,940, the typical annual property tax bill reaches $1,350, surpassing the national median of $2,690. Property taxes in Chicago Heights 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 Chicago Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Chicago Heights 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
Chicago Hts, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
6.15%
Estimate Property Tax Bill
$1,349
$1,318
$1,148
Average Chicago Hts, Illinois Tax Savings
Ownwell’s Chicago Heights Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Chicago Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chicago Heights 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 Chicago Heights. 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 Chicago Hts, Illinois
Property taxes in Chicago Heights, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chicago Heights is 6.15%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Chicago Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chicago Heights 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 Chicago Heights' effective property tax rate to other areas in Illinois and the national median. For comparison, the 60411 zip code has the highest median property tax rate of 6.15%, while the same zip code also has the lowest median tax rate of 6.15%. Understanding how these figures compare with Chicago Heights 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 Chicago Hts Tax Rate
6.15%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chicago Hts, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60411 | 2.85% | 4.09% | 6.15% | 8.22% | 9.46% |
Source: Ownwell
$1,148
Average Chicago Hts Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Chicago Hts, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Chicago Heights, 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 the Cook County Assessor 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 Chicago Heights, 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 Chicago Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 60411 has the highest and lowest median tax bill, both at $1,350.
Average Chicago Hts Assessed Value
$21,940
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 Chicago Hts, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60411 | $21,940 | $21,940 | $21,940 | $21,940 | $21,940 |
Source: Ownwell
$1,148
Average Chicago Hts Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Chicago Hts, Illinois
In Chicago Heights, 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 local tax rate is then applied to this assessed value. For instance, with a median home price of $21,940, the tax bills range from $897 at the 25th percentile to $2,076 at the 90th percentile. This variability depends on several factors, including property location, home improvements, and local tax levies. High property taxes can be burdensome for homeowners, especially when they exceed the national median property tax rate of 0.99%. Ownwell assists homeowners by identifying potential errors in property assessments and appealing these valuations to ensure they are fair. By leveraging local expertise and comprehensive data analysis, Ownwell helps reduce property tax bills, providing significant savings and financial relief for homeowners in Chicago Heights. This service ensures that homeowners are not overpaying on their property taxes and are only paying their fair share.
Average Chicago Hts Tax Bill
$1,350
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Chicago Hts, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60411 | $625 | $897 | $1,350 | $1,803 | $2,076 |
Source: Ownwell
$1,148
Average Chicago Hts 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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