Streamwood, Cook County, Illinois Property Taxes
Median Streamwood, IL effective property tax rate: 2.21%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Streamwood, IL home value: $230,010
Median annual Streamwood, IL tax bill: $5,043, $2,643 higher than the national median property tax bill of $2,400.
How are property taxes in Cook County calculated?
Property taxes in Streamwood, 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 Streamwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Streamwood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Streamwood, Cook County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.21%
Estimate Property Tax Bill
$5,083
$4,717
$1,102
Average Tax Savings
Ownwell’s Streamwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Streamwood with just two data points.
By entering your property's estimated assessed value, our calculator applies Streamwood’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 Streamwood, Cook County, Illinois
Local government entities establish tax rates, which can vary significantly within a state. This variation arises because each county annually estimates the budget required to provide services and divides it by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the essence of the annual process.
In Streamwood, located in Cook County, the effective property tax rate stands at 2.21%, higher than the national median of 1.02%. This means that residents in Streamwood pay a larger portion of their property's assessed value in taxes compared to the national average. Such a rate can impact homeowners' financial planning and housing affordability.
Comparing Streamwood's effective property tax rate to other cities in Illinois and the national average highlights the importance of understanding local tax obligations. For homeowners, being aware of these rates is crucial for budgeting and long-term financial planning. It also underscores the need for property tax appeal services, which can help ensure that residents are not overpaying on their property taxes.
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 Streamwood Tax Rate
2.21%
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 Streamwood, Cook County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60107 | 1.50% | 1.95% | 2.21% | 2.53% | 2.78% |
Source: Ownwell
$1,102
Average Streamwood Tax Savings
Save on your property taxes & more with Ownwell
Property Tax Assessment Values Across Streamwood, Cook County, Illinois
When examining property taxes in Streamwood, 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 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 Streamwood.
For example, the median home price in Streamwood is $230,010, with tax bills ranging significantly across the county. Zip code 60107 has the highest median home price at $230,010.
Property Tax Assessment Values Across Streamwood, Cook County, Illinois
Source: Ownwell
$25,480
$637,740
$1,250,000
Median Streamwood Market Value
$230,010
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 Streamwood, Cook County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60107 | $167,062 | $200,000 | $230,010 | $270,000 | $320,000 |
Source: Ownwell
$1,102
Average Streamwood Tax Savings
Save on your property taxes & more with Ownwell
Property Tax Bills Across Streamwood, Cook County, Illinois
In Streamwood, located in Cook County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is recalibrated annually. Factors such as local government budgets, school funding, and public services contribute to the tax rate, impacting homeowners' bills significantly. For instance, the median property tax bill in Streamwood stands at $5,043, which is notably higher than the national median of $2,400. This can place a considerable financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%.
Homeowners in Streamwood can benefit from Ownwell's expertise in property tax appeal and exemption services. By analyzing property assessments and local tax regulations, Ownwell identifies opportunities for tax savings. Their team of experts works to ensure that homeowners are not overpaying, potentially reducing their tax bills and easing the financial strain. Through effective appeals and exemptions, Ownwell helps homeowners achieve fair and manageable property tax obligations.
Median Streamwood Tax Bill
$5,043
Median Cook County Tax Bill
$4,680
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Streamwood, Cook County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60107 | $2,794 | $4,002 | $5,043 | $6,272 | $7,682 |
Source: Ownwell
$1,102
Average Streamwood 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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