Lansing, Illinois Property Taxes
The median property tax rate in Lansing, IL is 4.19%, significantly higher than both the national median of 0.99% and Illinois' state median of 2.35%. With the median home value in Lansing at $97,360, the typical annual property tax bill amounts to $4,007, far exceeding the national median of $2,690. Property taxes in Lansing are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Lansing's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lansing 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
Lansing, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.19%
Estimate Property Tax Bill
$4,079
$3,986
$1,148
Average Lansing, Illinois Tax Savings
Ownwell’s Lansing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lansing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lansing 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 Lansing. 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 Lansing, Illinois
Property taxes in Lansing, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lansing is 4.19%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Lansing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lansing 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 Lansing's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60438 zip code has the highest median property tax rate of 4.19%, while the same zip code also has the lowest median tax rate of 4.19%. Understanding how these cities compare with Lansing 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 Lansing Tax Rate
4.19%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lansing, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60438 | 1.68% | 3.28% | 4.19% | 5.11% | 6.32% |
Source: Ownwell
$1,148
Average Lansing Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lansing, Illinois
In Lansing, 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 Lansing, 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 Lansing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Lansing, the zip code 60438 has the highest and lowest median tax bill, both at $4,007, reflecting the uniformity in assessed property values within the area.
Average Lansing Assessed Value
$97,360
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 Lansing, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60438 | $44,730 | $72,510 | $97,360 | $130,408 | $157,478 |
Source: Ownwell
$1,148
Average Lansing Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lansing, Illinois
In Lansing, Cook County, IL, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Lansing is $97,360, and the property tax rate is significantly higher than the national median of 0.99%. Factors such as property size, location, and improvements can influence the assessed value. For example, tax bills in Lansing range from $2,226 at the 25th percentile to $7,535 at the 90th percentile, with the highest median tax bill recorded at $4,007 in the 60438 zip code. High property tax rates can be a significant burden for homeowners. Ownwell offers expert property tax appeal and exemption services to help reduce these costs. By analyzing your property’s assessed value and comparing it to similar properties, Ownwell can identify discrepancies and file appeals on your behalf. This can potentially lower your property tax bill, providing substantial savings. Trust Ownwell to navigate the complexities of property tax assessments and secure the best possible outcome for you.
Average Lansing Tax Bill
$4,007
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Lansing, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60438 | $1,079 | $2,226 | $4,007 | $5,894 | $7,535 |
Source: Ownwell
$1,148
Average Lansing 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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