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Crestwood, Cook County, Illinois Property Taxes

  • Median Crestwood, IL effective property tax rate: 2.56%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.

  • Median Crestwood, IL home value: $97,770

  • Median annual Crestwood, IL tax bill: $2,055, $345 lower than the national median property tax bill of $2,400.

How are property taxes in Cook County calculated?

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

Last Updated March 1, 2025

Crestwood, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.56%

Estimate Property Tax Bill

$2,503

$2,323

SAVE WITH OWNWELL

$1,102

Average Tax Savings

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

Local government entities set tax rates, which can vary widely within a state. Each county annually 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, this is the annual process in a nutshell.

Crestwood in Cook County, IL, has a property tax landscape that may surprise some homeowners. The effective property tax rate here stands at 2.56%, which is significantly higher than the national median property tax rate of 1.02%. This means that property owners in Crestwood pay a considerably larger portion of their property's assessed value in taxes compared to the national average.

In comparison to other cities within Illinois, Crestwood's tax rate is on the higher end, reflecting the higher demand for local services and infrastructure. Understanding these rates and how they impact your property tax bill is crucial for homeowners in the area. By staying informed, you can make better financial decisions and potentially explore opportunities to appeal your property's assessed value or seek exemptions.

Property Tax Rates Across Crestwood, 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 Crestwood Tax Rate

2.56%

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 Crestwood, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
604180.90%1.74%2.56%3.25%3.38%
60445N/AN/AN/AN/AN/A

Source: Ownwell

Property Tax Assessment Values Across Crestwood, Cook County, Illinois

When examining property taxes in Crestwood, 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's Office 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. Assessment notices: 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 Crestwood. For example, the median home price in Crestwood is $97,770, with tax bills ranging significantly across the county. Zip code 60418 has the highest median home price at $97,770.

Property Tax Assessment Values Across Crestwood, Cook County, Illinois

Source: Ownwell

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$25,480

$637,740

$1,250,000

Median Crestwood Market Value

$97,770

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 Crestwood, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60418$11,060$66,850$97,770$167,220$196,271
60445N/AN/AN/AN/AN/A

Source: Ownwell

Property Tax Bills Across Crestwood, Cook County, Illinois

In Crestwood, 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 to determine the property tax bill. Various factors such as location, property size, and improvements can influence the assessed value. Homeowners in Crestwood face a property tax bill that can vary significantly, with the 25th percentile at $791 and the 90th percentile reaching $5,453. The median property tax bill stands at $2,054, which is lower than the national median of $2,400, offering some relief to local homeowners. However, these taxes can still pose a significant financial burden. Ownwell helps homeowners by providing property tax appeal and exemption services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can effectively challenge overvaluations, ensuring homeowners pay only their fair share. This service can lead to substantial savings, making it an invaluable resource for property owners in Crestwood.

Property Tax Bills Across Crestwood, Cook County, Illinois

Source: Ownwell

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$569

$15,332

$30,094

Median Crestwood Tax Bill

$2,055

Median Cook County Tax Bill

$4,680

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Crestwood, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60418$256$791$2,054$4,197$5,453
60445N/AN/AN/AN/AN/A

Source: Ownwell

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