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Chicago Ridge, Cook County, Illinois Property Taxes

  • Median Chicago Ridge, IL effective property tax rate: 2.95%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.

  • Median Chicago Ridge, IL home value: $124,920

  • Median annual Chicago Ridge, IL tax bill: $2,923, $523 higher than the national median property tax bill of $2,400.

How are property taxes in Cook calculated?

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

Last Updated March 1, 2025

Chicago Ridge, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.95%

Estimate Property Tax Bill

$3,685

$3,420

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Chicago Ridge Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Chicago Ridge with just two data points. By entering your property's estimated assessed value, our calculator applies Chicago Ridge’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 Chicago Ridge, Cook County, Illinois

Local government entities set tax rates, which can vary widely within a state. This variation occurs because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Chicago Ridge, located in Cook County, has an effective property tax rate that stands out when compared to other cities in Illinois. The median property tax rate in Chicago Ridge is significantly higher than the national median property tax rate of 1.02%. This highlights the importance of understanding local tax rates, as they can greatly impact homeowners' financial responsibilities. By comparing Chicago Ridge’s property tax rates to both state and national figures, homeowners can gain a clearer picture of their tax obligations. This comparison can be crucial for those considering property tax appeals or exemptions, ensuring they are not overpaying compared to other regions. Understanding these dynamics can empower property owners to make informed decisions about their investments and financial planning.

Property Tax Rates Across Chicago Ridge, 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 Chicago Ridge Tax Rate

2.95%

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 Chicago Ridge, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
604151.22%2.13%2.95%3.64%3.75%

Source: Ownwell

Property Tax Assessment Values Across Chicago Ridge, Cook County, Illinois

When examining property taxes in Chicago Ridge, 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 April. 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 Chicago Ridge. For example, the median home price in Chicago Ridge is $124,920, with tax bills ranging significantly across the county. 60415 has the highest median home price at $124,920.

Property Tax Assessment Values Across Chicago Ridge, Cook County, Illinois

Source: Ownwell

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$25,480

$637,740

$1,250,000

Median Chicago Ridge Market Value

$124,920

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 Chicago Ridge, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60415$56,226$69,890$124,920$169,520$192,010

Source: Ownwell

Property Tax Bills Across Chicago Ridge, Cook County, Illinois

In Chicago Ridge, located in Cook County, IL, property tax bills are influenced by the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $124,920, homeowners in Chicago Ridge face a property tax rate that results in a median tax bill of approximately $2,923, which is above the national median of $2,400. Tax bills can vary significantly, with the 25th percentile at $1,711 and the 90th percentile reaching $6,031. Such variability can impact homeowners' financial planning and budgeting. Ownwell offers valuable assistance by identifying potential savings on property tax bills through appeals and exemptions. By leveraging expert knowledge of local tax regulations and assessment practices, Ownwell helps homeowners in Chicago Ridge potentially reduce their tax burden, ensuring they pay only what is fair and equitable.

Property Tax Bills Across Chicago Ridge, Cook County, Illinois

Source: Ownwell

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$569

$15,332

$30,094

Median Chicago Ridge Tax Bill

$2,923

Median Cook County Tax Bill

$4,680

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Chicago Ridge, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60415$805$1,711$2,923$4,942$6,031

Source: Ownwell

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