Ford Heights, Illinois Property Taxes
The median property tax rate in Ford Heights, IL is 8.39%, significantly higher than both the national median of 0.99% and Illinois' state median of 2.35%. With the median home value in Ford Heights at $25,480, the typical annual property tax bill reaches $2,080, which is below the national median of $2,690. Property taxes in Ford Heights are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Ford Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ford Heights or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ford Heights, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
8.39%
Estimate Property Tax Bill
$2,138
$2,089
$1,148
Average Ford Heights, Illinois Tax Savings
Ownwell’s Ford Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ford Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ford 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 Ford 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 Ford Heights, Illinois
Property taxes in Ford Heights, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ford Heights is 8.39%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Ford Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ford 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 Ford Heights' effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 60411 has both the highest and lowest median property tax rates at 8.39%, highlighting the uniformity within Ford Heights. Understanding how these figures compare with Ford 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 Ford Heights Tax Rate
8.39%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ford Heights, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60411 | 0.92% | 8.18% | 8.39% | 8.39% | 8.40% |
Source: Ownwell
$1,148
Average Ford Heights Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Ford Heights, Illinois
In Ford Heights, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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's Office 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 Ford 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 Ford 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 bills, both at $2080, reflecting the diverse property values within the area.
Property Tax Assessment Values Across Ford Heights, Illinois
Source: Ownwell
$13,140
$631,570
$1,250,000
Average Ford Heights Assessed Value
$25,480
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 Ford Heights, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60411 | $16,500 | $24,195 | $25,480 | $28,130 | $36,681 |
Source: Ownwell
$1,148
Average Ford Heights Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Ford Heights, Illinois
In Ford 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. With a median home price of $25,480, homeowners can expect varying tax bills. For instance, tax bills range from $1,092 at the 25th percentile to $2,299 at the 75th percentile, reaching up to $2,919 at the 90th percentile. These amounts are significantly higher than the national median property tax rate of 0.99%, which can place a financial burden on residents. Several factors influence the tax bill, including property assessments, local tax rates, and any applicable exemptions. High property taxes can affect homeowners by reducing disposable income and potentially lowering property values. Ownwell assists homeowners in Ford Heights by offering property tax appeal and exemption services. By reviewing assessments and identifying discrepancies, Ownwell helps clients lower their tax bills, ensuring they pay only their fair share. This personalized approach can lead to substantial savings and financial relief for property owners.
Average Ford Heights Tax Bill
$2,080
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Ford Heights, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60411 | $232 | $1,092 | $2,080 | $2,299 | $2,919 |
Source: Ownwell
$1,148
Average Ford Heights 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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