Justice, Illinois Property Taxes
The median property tax rate in Justice, IL is 2.73%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value in Justice of $169,645, the typical annual property tax bill reaches $4,488, exceeding the national median of $2,690. Property taxes in Justice are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Justice's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Justice or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Justice, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.73%
Estimate Property Tax Bill
$4,631
$4,526
$1,148
Average Justice, Illinois Tax Savings
Ownwell’s Justice Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Justice with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Justice 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 Justice. 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 Justice, Illinois
Property taxes in Justice, Illinois, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Justice is 2.73%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Justice set these rates annually, and they can vary across different neighborhoods. Each year, Justice 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 Justice's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60458 zip code has the highest median property tax rate of 2.73%, while the 60458 zip code also has the lowest median tax rate of 2.73%. Understanding how these cities compare with Justice 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 Justice Tax Rate
2.73%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Justice, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60458 | 1.52% | 2.34% | 2.73% | 2.95% | 3.42% |
Source: Ownwell
$1,148
Average Justice Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Justice, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Justice, Illinois. 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 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. Assessment notices in Justice 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Justice, the highest median tax bill is $4,488 in the 60458 zip code, which is significantly higher than the national median property tax rate of 0.99%.
Average Justice Assessed Value
$169,645
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 Justice, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60458 | $102,240 | $150,688 | $169,645 | $210,490 | $240,505 |
Source: Ownwell
$1,148
Average Justice Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Justice, Illinois
In Justice, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. With a median home price of $169,645, homeowners face varying tax bills depending on their property's assessed value and applicable exemptions. For instance, the 25th percentile tax bill is $3,230, while the 75th percentile reaches $5,780. Factors such as property location, improvements, and local government budgets significantly influence these figures. The highest median tax bill recorded in the area is $4,488, which aligns with the lowest, indicating a consistent tax rate across properties. Homeowners in Justice may find property taxes burdensome, especially when compared to the national median property tax rate of 0.99%. This is where Ownwell can make a difference. By leveraging expert knowledge and a data-driven approach, Ownwell helps homeowners identify potential savings through appeals and exemptions, ensuring they pay only their fair share. This service can lead to substantial reductions in annual property tax bills, providing financial relief and peace of mind.
Average Justice Tax Bill
$4,488
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Justice, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60458 | $1,685 | $3,230 | $4,488 | $5,780 | $7,079 |
Source: Ownwell
$1,148
Average Justice Tax Savings
Save on your property taxes & more with Ownwell.
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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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