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Tinley Park, Cook County, Illinois Property Taxes

  • Median Tinley Park, IL effective property tax rate: 2.98%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.

  • Median Tinley Park, IL home value: $191,420

  • Median annual Tinley Park, IL tax bill: $5,699, $3,299 higher than the national median property tax bill of $2,400.

How are property taxes in Cook calculated?

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

Last Updated March 1, 2025

Tinley Park, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.98%

Estimate Property Tax Bill

$5,704

$5,293

SAVE WITH OWNWELL

$1,102

Average Tax Savings

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

Local government entities set tax rates, which can vary widely within a state. This variation is because each county estimates its required budget annually to provide essential services and divides that 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 these rates and budgets, this is the annual process in a nutshell. Tinley Park in Cook County, IL, showcases a notable difference in property tax rates compared to other cities in Illinois and the national average. The effective property tax rate in Tinley Park is significantly higher than the national median property tax rate of 1.02%. Within Tinley Park, the highest median tax rate is 3.04% in the 60477 zip code, while the lowest is 2.91% in the 60487 zip code. These figures are reflective of the broader trend in Cook County, where property tax rates are among the highest in the state. Comparing these rates to the national median property tax bill of $2400, it becomes evident that property owners in Tinley Park face a considerably higher tax burden.

Property Tax Rates Across Tinley 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 Tinley Park Tax Rate

2.98%

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 Tinley Park, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
604771.99%2.62%3.04%3.46%4.22%
604872.19%2.55%2.91%3.08%3.45%
60462N/AN/AN/AN/AN/A

Source: Ownwell

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

When examining property taxes in Tinley 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. Assessment notices: 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 Tinley Park. For example, the median home price in Tinley Park is $191,420, with tax bills ranging significantly across the county. 60487 has the highest median home price at $228,060.

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

Source: Ownwell

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$25,480

$637,740

$1,250,000

Median Tinley Park Market Value

$191,420

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 Tinley Park, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60477$89,430$143,020$181,820$213,360$265,676
60487$158,320$206,710$228,060$300,035$343,067
60462N/AN/AN/AN/AN/A

Source: Ownwell

Property Tax Bills Across Tinley Park, Cook County, Illinois

In Tinley Park, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the Cook County Assessor's Office. The assessed value is a percentage of the market value, and local tax rates are applied to this assessed value to determine the annual property tax bill. With a median home price of $191,420, homeowners in Tinley Park might find their tax bills significantly higher than the national median of $2,400, with the 25th percentile tax bill at $4,055 and the 75th percentile reaching $7,376. These tax bills can place a substantial financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%.

Ownwell assists homeowners in Tinley Park by offering property tax appeal services, potentially reducing their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying. This service can lead to substantial savings, making it a valuable resource for those looking to manage their property tax expenses effectively.

Property Tax Bills Across Tinley Park, Cook County, Illinois

Source: Ownwell

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$569

$15,332

$30,094

Median Tinley Park Tax Bill

$5,699

Median Cook County Tax Bill

$4,680

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Tinley Park, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60477$1,918$3,593$5,448$7,010$8,830
60487$3,714$5,287$6,559$8,967$10,664
60462N/AN/AN/AN/AN/A

Source: Ownwell

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