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Rolling Meadows, Cook County, Illinois Property Taxes

  • Median Rolling Meadows, IL effective property tax rate: 2.18%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.

  • Median Rolling Meadows, IL home value: $240,010

  • Median annual Rolling Meadows, IL tax bill: $4,900, $2,500 higher than the national median property tax bill of $2,400.

How are property taxes in Cook County calculated?

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

Last Updated March 1, 2025

Rolling Meadows, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.18%

Estimate Property Tax Bill

$5,232

$4,855

SAVE WITH OWNWELL

$1,102

Average Tax Savings

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

Local government entities set tax rates, which can vary widely within a state. Annually, each county 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, in a nutshell, this is the annual process. Below, you can compare Rolling Meadows’ effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Rolling Meadows in Cook County is notable for its property tax rate. The median property tax rate here is 2.18%, which is significantly higher than the national median of 1.02%. This places Rolling Meadows among the higher property tax regions in the country. The property tax rate in this area is also consistent, with both the highest and lowest rates recorded at 2.18%, indicating a uniform approach within the zip code 60008. Homeowners in Rolling Meadows should be aware of these rates as they plan their finances, especially given the significant difference from the national average.

Property Tax Rates Across Rolling Meadows, 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 Rolling Meadows Tax Rate

2.18%

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 Rolling Meadows, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
600081.33%1.78%2.18%2.54%2.82%

Source: Ownwell

Property Tax Assessment Values Across Rolling Meadows, Cook County, Illinois

When examining property taxes in Rolling Meadows, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value represents what a willing buyer would pay to a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. Cook County estimates the market value for tax purposes. The assessed value, on the other hand, is the market value minus any applicable exemptions or limits set by local laws. This assessed figure is used to calculate your property taxes, determining the amount multiplied by your tax rate to get your tax bill.

In Cook County, assessment notices are sent in the spring each year, typically reaching your mailbox by the middle of May. Each property owner receives an assessment notice containing both the market value and assessed value, along with an estimate of your property tax bill. This information aids property owners in understanding their tax responsibilities and the valuation processes affecting their property taxes in Rolling Meadows. For example, the median home price in Rolling Meadows is $240,010, with tax bills ranging significantly across the county. Zip code 60008 has the highest median home price at $240,010.

Property Tax Assessment Values Across Rolling Meadows, Cook County, Illinois

Source: Ownwell

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$25,480

$637,740

$1,250,000

Median Rolling Meadows Market Value

$240,010

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 Rolling Meadows, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60008$99,580$137,060$240,010$290,000$384,790

Source: Ownwell

Property Tax Bills Across Rolling Meadows, Cook County, Illinois

In Rolling Meadows, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor in Cook County. Homeowners can expect a property tax rate that is higher than the national median of 1.02%, resulting in a median tax bill significantly above the national median of $2,400. In Rolling Meadows, the tax bill ranges from the 25th percentile at $2,703 to the 90th percentile at $10,087, with a median bill of $4,900. Factors influencing the tax bill include the assessed property value, local tax rates, and any applicable exemptions. High property taxes can place a financial strain on homeowners, making it essential to explore ways to reduce these costs. Ownwell assists homeowners by providing expert property tax appeal services, potentially lowering the assessed value and, consequently, the tax bill. By leveraging local knowledge and expertise, Ownwell helps ensure homeowners in Rolling Meadows pay only their fair share in property taxes, offering significant savings and financial relief.

Property Tax Bills Across Rolling Meadows, Cook County, Illinois

Source: Ownwell

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$569

$15,332

$30,094

Median Rolling Meadows Tax Bill

$4,900

Median Cook County Tax Bill

$4,680

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Rolling Meadows, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60008$1,348$2,703$4,900$6,521$10,087

Source: Ownwell

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