Elk Grove Village, Cook County, Illinois Property Taxes
Median Elk Grove Village, IL effective property tax rate: 1.85%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Elk Grove Village, IL home value: $290,000
Median annual Elk Grove Village, IL tax bill: $5,058, $2,658 higher than the national median property tax bill of $2,400.
How are property taxes in Cook County calculated?
Property taxes in Elk Grove Village, 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 Elk Grove Village’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Elk Grove Village, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Elk Grove Village, Cook County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.85%
Estimate Property Tax Bill
$5,365
$4,979
$1,102
Average Tax Savings
Property Tax Rates Across Elk Grove Village, Cook County, Illinois
Local government entities determine tax rates, which can differ significantly even within a single state. This variation occurs because each county annually estimates its necessary budget to fund services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Though votes and laws play a role in setting tax rates and budgets, this is the basic annual procedure.
In Elk Grove Village, situated in Cook County, the effective property tax rate is 1.85%. This rate is higher than the national median property tax rate of 1.02%, which may be indicative of the area's funding needs for local services. The median property tax rate in Illinois is also 1.85%, aligning with the rate in Elk Grove Village. This consistency within the state suggests a common approach to budgeting and service provision. However, when compared to the national median property tax bill of $2,400, the tax obligations in Elk Grove Village may be higher, reflecting the region's property values and local government requirements.
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 Elk Grove Village Tax Rate
1.85%
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 Elk Grove Village, Cook County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60007 | 1.16% | 1.51% | 1.85% | 2.16% | 2.40% |
Source: Ownwell
$1,102
Average Elk Grove Village Tax Savings
Save on your property taxes & more with Ownwell
Property Tax Assessment Values Across Elk Grove Village, Cook County, Illinois
When examining property taxes in Elk Grove Village, 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 Elk Grove Village.
For example, the median home price in Elk Grove Village is $290,000, with tax bills ranging significantly across the county. Zip code 60007 has the highest median home price at $290,000.
Property Tax Assessment Values Across Elk Grove Village, Cook County, Illinois
Source: Ownwell
$25,480
$637,740
$1,250,000
Median Elk Grove Village Market Value
$290,000
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 Elk Grove Village, Cook County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60007 | $145,430 | $230,000 | $290,000 | $350,000 | $400,000 |
Source: Ownwell
$1,102
Average Elk Grove Village Tax Savings
Save on your property taxes & more with Ownwell
Property Tax Bills Across Elk Grove Village, Cook County, Illinois
In Elk Grove Village, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Cook County uses this assessed value to determine the property tax bill, taking into account local tax rates and levies set by various taxing authorities. Homeowners in this area experience a higher tax burden compared to the national median, with tax bills ranging from $3,501 at the 25th percentile to $8,693 at the 90th percentile. The median tax bill in Elk Grove Village is notably higher than the national median of $2,400, reflecting the area's higher property values and tax rates.
Property taxes can significantly impact homeowners' finances, making it crucial to ensure that assessments are fair and accurate. Ownwell assists homeowners by reviewing property assessments and identifying potential savings through appeals and exemptions. By leveraging their expertise in property tax laws and local market conditions, Ownwell can help reduce the financial burden of property taxes, ensuring homeowners pay only their fair share.
Median Elk Grove Village Tax Bill
$5,058
Median Cook County Tax Bill
$4,680
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Elk Grove Village, Cook County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60007 | $2,154 | $3,501 | $5,058 | $7,000 | $8,693 |
Source: Ownwell
$1,102
Average Elk Grove Village 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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