Westchester, Illinois Property Taxes
The median property tax rate in Westchester, Illinois is 2.46%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Westchester, the typical annual property tax bill reaches $5,226, exceeding the national median of $2,690. Property taxes in Westchester 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 Westchester'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 Westchester 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
Westchester, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.46%
Estimate Property Tax Bill
$5,335
$4,951
$1,148
Average Tax Savings
Ownwell's Westchester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westchester 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 Westchester. 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Westchester, Illinois
Property taxes in Westchester, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westchester is 2.46%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Westchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westchester 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 Westchester's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60154 zip code has the highest median property tax rate of 2.46%, while the same zip code also has the lowest median tax rate of 2.46%. Understanding how these cities compare with Westchester 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 Westchester Tax Rate
2.46%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westchester, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60154 | 1.61% | 2.16% | 2.46% | 2.56% | 2.95% |
Source: Ownwell
$1,148
Average Westchester Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Westchester, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Westchester, Illinois. 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 Appraisal District 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 Westchester, 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. For example, the median home price in Westchester is $216,860, with tax bills ranging from $4,225 at the 25th percentile to $7,228 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Westchester Assessed Value
$216,860
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 Westchester, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60154 | $163,289 | $198,920 | $216,860 | $239,930 | $291,504 |
Source: Ownwell
$1,148
Average Westchester Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Westchester, Illinois
In Westchester, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local authorities. The assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and improvements can influence this assessed value. For example, the median home price in Westchester is $216,860, leading to tax bills that can range from $4,225 at the 25th percentile to $7,228 at the 90th percentile. With a median tax bill of $5,226, Westchester's property taxes are significantly higher than the national median property tax rate of 0.99%. Homeowners in Westchester can feel the financial strain of these high property taxes, but Ownwell can help ease this burden. By offering property tax appeal and exemption services, Ownwell ensures that homeowners are not overpaying. Our expert consultants analyze your property’s assessment and identify discrepancies, potentially saving you hundreds or even thousands of dollars on your tax bill.
Average Westchester Tax Bill
$5,226
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Westchester, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60154 | $2,968 | $4,225 | $5,226 | $6,118 | $7,228 |
Source: Ownwell
$1,148
Average Westchester 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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