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Merrionette Park, Cook County, Illinois Property Taxes

  • Median Merrionette Park, IL effective property tax rate: 2.51%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.

  • Median Merrionette Park, IL home value: $114,930

  • Median annual Merrionette Park, IL tax bill: $2,717, $317 higher than the national median property tax bill of $2,400.

How are property taxes in Cook County calculated?

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

Last Updated March 1, 2025

Merrionette Park, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.51%

Estimate Property Tax Bill

$2,885

$2,677

SAVE WITH OWNWELL

$1,102

Average Tax Savings

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

Local government entities set tax rates, which can vary widely within a state. This variance is because each county annually 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, this is the annual process in a nutshell. Merrionette Park in Cook County, Illinois, has an effective property tax rate of 2.51%, which is significantly higher than the national median of 1.02%. This rate is reflective of the highest and lowest median tax rates in the area, both standing at 2.51%. When compared to other cities in Illinois, Merrionette Park's property tax rate is quite high, as the state itself has a higher median property tax rate than the national average. Understanding these rates can help property owners make informed decisions about appealing property taxes and seeking exemptions.

Property Tax Rates Across Merrionette Park, Cook County, Illinois

Source: Ownwell

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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 Merrionette Park Tax Rate

2.51%

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 Merrionette Park, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
608031.11%2.32%2.51%3.35%3.35%

Source: Ownwell

Property Tax Assessment Values Across Merrionette Park, Cook County, Illinois

When examining property taxes in Merrionette Park, 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's Office 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 April. 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 Merrionette Park.

For example, the median home price in Merrionette Park is $114,930, with tax bills ranging significantly across the county. Zip code 60803 has the highest median home price at $114,930.

Property Tax Assessment Values Across Merrionette Park, Cook County, Illinois

Source: Ownwell

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$25,480

$637,740

$1,250,000

Median Merrionette Park Market Value

$114,930

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 Merrionette Park, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60803$44,053$110,548$114,930$134,782$172,384

Source: Ownwell

Property Tax Bills Across Merrionette Park, Cook County, Illinois

In Merrionette Park, located in Cook County, IL, property tax bills are determined based on the assessed value of a home. The county assesses properties to establish their taxable value, which is then multiplied by the local tax rate to calculate the property tax bill. With a median home price of $114,930, homeowners in Merrionette Park face property tax bills that can vary widely. The 25th percentile tax bill is $1,658, while the 75th percentile reaches $3,788, and the 90th percentile can be as high as $4,813. Comparatively, the national median property tax bill is $2,400. These figures highlight the potential financial burden on homeowners in the area.

Ownwell offers a valuable service to homeowners by providing property tax appeal and exemption services. By reviewing and potentially challenging the assessed value of a property, Ownwell can help reduce property tax bills. This assistance can lead to significant savings, ensuring that homeowners are not overpaying and are only paying their fair share in property taxes.

Property Tax Bills Across Merrionette Park, Cook County, Illinois

Source: Ownwell

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$569

$15,332

$30,094

Median Merrionette Park Tax Bill

$2,717

Median Cook County Tax Bill

$4,680

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Merrionette Park, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60803$1,075$1,658$2,717$3,788$4,813

Source: Ownwell

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