South Holland, Illinois Property Taxes
The median property tax rate in South Holland, IL is 4.25%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $132,320 in South Holland, the typical annual property tax bill reaches $5,366, far exceeding the national median of $2,690. Property taxes in South Holland are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding South Holland'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 South Holland 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
South Holland, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.25%
Estimate Property Tax Bill
$5,624
$5,219
$1,148
Average Tax Savings
Ownwell’s South Holland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Holland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Holland 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 South Holland. 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 Cook County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across South Holland, Illinois
Property taxes in South Holland, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Holland is 4.25%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within South Holland set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Holland 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 South Holland's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60473 zip code has the highest median property tax rate of 4.25%, while the same zip code also has the lowest median tax rate of 4.25%. Understanding how these cities compare with South Holland 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 South Holland Tax Rate
4.25%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Holland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60473 | 2.01% | 3.29% | 4.25% | 4.79% | 5.93% |
Source: Ownwell
$1,148
Average South Holland Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across South Holland, Illinois
In South Holland, 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 South Holland, 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 South Holland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $132,320, with the highest median tax bill in the 60473 zip code being $5,366.
Property Tax Assessment Values Across South Holland, Illinois
Source: Ownwell
$13,140
$631,570
$1,250,000
Average South Holland Assessed Value
$132,320
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 South Holland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60473 | $84,746 | $111,210 | $132,320 | $148,568 | $174,413 |
Source: Ownwell
$1,148
Average South Holland Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across South Holland, Illinois
Property tax bills in South Holland, Cook County, IL, are calculated based on the assessed value of a property, which is a percentage of its market value. For a median home price of $132,320, homeowners can expect tax bills ranging from $3,734 at the 25th percentile to $8,233 at the 90th percentile. These values are significantly higher than the national median property tax rate of 0.99%. Various factors influence the tax bill, including property size, location, and local tax rates. High property taxes can place a considerable financial burden on homeowners, impacting their overall cost of living. Ownwell assists homeowners in South Holland by offering expert property tax appeal and exemption services. Our team reviews your property assessment for inaccuracies and identifies potential savings opportunities. By leveraging our expertise, you can potentially reduce your property tax bill, ensuring you only pay your fair share. Let Ownwell help you navigate the complexities of property taxes and keep more money in your pocket.
Average South Holland Tax Bill
$5,366
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across South Holland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60473 | $2,083 | $3,734 | $5,366 | $6,699 | $8,233 |
Source: Ownwell
$1,148
Average South Holland 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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