Home
/US Property Taxes
/Illinois
/Cook County
/Elgin

Elgin, Cook County, Illinois Property Taxes

  • Median Elgin, IL effective property tax rate: 1.98%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.

  • Median Elgin, IL home value: $230,000

  • Median annual Elgin, IL tax bill: $4,461, $2,061 higher than the national median property tax bill of $2,400.

How are property taxes in Cook calculated?

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

Last Updated March 1, 2025

Elgin, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.98%

Estimate Property Tax Bill

$4,554

$4,226

SAVE WITH OWNWELL

$1,102

Average Tax Savings

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

Local government entities set tax rates, which can vary widely within a state. 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 there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Elgin’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Elgin, located in Cook County, has an effective property tax rate of 1.98%. This rate is significantly higher than the national median property tax rate of 1.02%. With the median property tax bill in the U.S. at $2,400, property owners in Elgin might find themselves paying more. Within Illinois, Elgin shares its rate with other areas, reflecting the state's higher-than-average property tax landscape. Understanding these figures can help property owners make informed decisions about appeals and exemptions, potentially leading to significant savings.

Property Tax Rates Across Elgin, Cook County, Illinois

Source: Ownwell

Loading...

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 Elgin Tax Rate

1.98%

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 Elgin, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
601201.35%1.72%1.98%2.33%2.56%
60103N/AN/AN/AN/AN/A
60123N/AN/AN/AN/AN/A

Source: Ownwell

Property Tax Assessment Values Across Elgin, Cook County, Illinois

When examining property taxes in Elgin, 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 May. 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 Elgin.

For example, the median home price in Elgin is $230,000, with tax bills ranging significantly across the county. 60120 has the highest median home price at $230,000.

Property Tax Assessment Values Across Elgin, Cook County, Illinois

Source: Ownwell

Loading...

$25,480

$637,740

$1,250,000

Median Elgin Market Value

$230,000

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 Elgin, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60120$147,380$185,710$230,000$270,000$330,000
60103N/AN/AN/AN/AN/A
60123N/AN/AN/AN/AN/A

Source: Ownwell

Property Tax Bills Across Elgin, Cook County, Illinois

In Elgin, located in Cook County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Elgin is $230,000, which significantly impacts the tax bill. The median property tax bill in this area is notably higher than the national median, reflecting the region's higher tax rates. Homeowners in Elgin experience a range of tax bills, with the 25th percentile at $3,343 and the 90th percentile reaching $7,646. These figures illustrate the potential financial burden on property owners in this area. Ownwell assists homeowners by identifying potential savings on their property tax bills through appeals and exemptions. By leveraging local expertise and understanding the nuances of property tax assessments in Cook County, Ownwell can help reduce the financial burden on homeowners, ensuring they pay only what is fair and necessary.

Property Tax Bills Across Elgin, Cook County, Illinois

Source: Ownwell

Loading...

$569

$15,332

$30,094

Median Elgin Tax Bill

$4,461

Median Cook County Tax Bill

$4,680

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Elgin, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60120$2,162$3,342$4,456$5,716$7,637
60103N/AN/AN/AN/AN/A
60123N/AN/AN/AN/AN/A

Source: Ownwell

Don't miss the deadline to appeal!