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Schaumburg, Cook County, Illinois Property Taxes

Median Schaumburg, IL effective property tax rate: 2.05%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Schaumburg, IL home value: $258,215. Median annual Schaumburg, IL tax bill: $5,152, $2,752 higher than the national median property tax bill of $2,400.

How are property taxes in Cook calculated?

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

Last Updated March 1, 2025

Schaumburg, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.05%

Estimate Property Tax Bill

$5,293

$4,912

SAVE WITH OWNWELL

$1,102

Average Tax Savings

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

Local government entities in Illinois set property tax rates, which can vary significantly within the state. This variation occurs because each county, such as Cook County, estimates its required budget annually to provide essential services. The county then divides this budget by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the core process followed each year. In Schaumburg, located in Cook County, the effective property tax rate can be compared to other cities within Illinois, as well as the median property tax rates for Illinois and the U.S. Schaumburg's effective property tax rate is notably higher than the national median property tax rate of 1.02%. Within Schaumburg, the highest median tax rate is found in the 60173 zip code, while the lowest is in the 60195 zip code. This comparison highlights the variability of property tax rates within even a single city, reflecting the broader trend seen across the state and the nation.

Property Tax Rates Across Schaumburg, 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 Schaumburg Tax Rate

2.05%

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%

Schaumburg, Illinois vs Similar Illinois Cities

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 Arlington Heights Tax Rate

2.15%

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 Chicago Tax Rate

1.90%

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 Cicero Tax Rate

3.37%

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 Evanston Tax Rate

1.98%

Property Tax Rates Across Schaumburg, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
601731.51%1.90%2.17%2.43%2.61%
601931.40%1.80%2.05%2.31%2.48%
601941.44%1.79%2.04%2.31%2.47%
601950.98%1.57%1.99%2.40%3.13%

Source: Ownwell

Property Tax Assessment Values Across Schaumburg, Cook County, Illinois

When examining property taxes in Schaumburg, 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, influenced by location, property condition, and economic market trends. The Cook County Assessor 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 May. 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 Schaumburg. For example, the median home price in Schaumburg is $258,215, with tax bills ranging significantly across the county. Zip code 60193 has the highest median home price at $270,010.

Property Tax Assessment Values Across Schaumburg, Cook County, Illinois

Source: Ownwell

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$25,480

$637,740

$1,250,000

Median Schaumburg Market Value

$258,215

Median Cook County Market Value

$210,000

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Schaumburg, Illinois vs Similar Illinois Cities

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 Arlington Heights Market Value

$350,000

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 Chicago Market Value

$208,120

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 Cicero Market Value

$152,620

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 Evanston Market Value

$350,000

Property Tax Assessment Values Across Schaumburg, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60173$109,640$140,600$269,975$463,068$598,420
60193$154,890$188,060$270,010$348,430$410,010
60194$157,160$182,650$223,020$330,000$380,000
60195$109,410$123,320$161,590$330,000$399,680

Source: Ownwell

Property Tax Bills Across Schaumburg, Cook County, Illinois

In Schaumburg, located in Cook County, IL, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Homeowners in Schaumburg face a median property tax bill significantly higher than the national median of $2,400. The tax bill at the 25th percentile is $3,451, while at the 75th percentile, it rises to $7,120, with the 90th percentile reaching $9,033. This variation highlights the impact of property location and home value on tax obligations. The highest median tax bill is found in the 60173 zip code, at $5,565, while the lowest is in the 60195 zip code, at $3,066. Ownwell assists homeowners by identifying potential savings through property tax appeals and exemptions, helping to reduce the financial burden. By leveraging expertise and local data, Ownwell ensures homeowners pay only what is fair and equitable.

Property Tax Bills Across Schaumburg, Cook County, Illinois

Source: Ownwell

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$569

$15,332

$30,094

Median Schaumburg Tax Bill

$5,152

Median Cook County Tax Bill

$4,680

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Schaumburg, Illinois vs Similar Illinois Cities

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 Arlington Heights Tax Bill

$7,370

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 Chicago Tax Bill

$3,503

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 Cicero Tax Bill

$4,830

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 Evanston Tax Bill

$6,709

Property Tax Bills Across Schaumburg, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60173$2,158$3,168$5,565$10,417$13,395
60193$2,448$3,682$5,400$7,098$8,909
60194$2,610$3,499$4,685$6,604$8,275
60195$1,657$2,159$3,066$6,080$8,714

Source: Ownwell

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