Wheeling, Illinois Property Taxes
The median property tax rate in Wheeling, IL is 2.33%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Wheeling, the typical annual property tax bill reaches $4,656, exceeding the national median of $2,690. Property taxes in Wheeling 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 Wheeling'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 Wheeling 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
Wheeling, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.33%
Estimate Property Tax Bill
$4,896
$4,544
$1,148
Average Tax Savings
Ownwell’s Wheeling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheeling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheeling 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 Wheeling. 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 Wheeling, Illinois
Property taxes in Wheeling, Illinois, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Wheeling is 2.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wheeling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheeling 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 Wheeling's effective property tax rate to other areas in Cook County and the national median. For comparison, the 60090 zip code has the highest median property tax rate of 2.33%, while the lowest median tax rate in the same zip code is also 2.33%. Understanding how these areas compare with Wheeling 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 Wheeling Tax Rate
2.33%
Average Cook County Tax Rate
2.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheeling, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60090 | 1.31% | 1.99% | 2.33% | 2.66% | 3.10% |
Source: Ownwell
$1,148
Average Wheeling Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Wheeling, Illinois
In Wheeling, 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 Wheeling, 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 Wheeling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wheeling are both $4,656, found in the 60090 zip code.
Average Wheeling Assessed Value
$210,150
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 Wheeling, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60090 | $102,750 | $151,030 | $210,150 | $263,750 | $342,833 |
Source: Ownwell
$1,148
Average Wheeling Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Wheeling, Illinois
In Wheeling, located in Cook County, IL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value, which is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Wheeling, the median home price is $210,150, leading to varying tax bills. Homeowners in the 25th percentile pay around $2,876, while those in the 75th percentile face bills of up to $6,651. The highest median tax bill recorded in the area is $4,656 in the 60090 zip code. These property tax bills can significantly impact homeowners, often leading to financial strain. Ownwell offers services to help homeowners appeal their property tax assessments and apply for exemptions, potentially reducing their tax burden. By leveraging local expertise and data-driven insights, Ownwell ensures homeowners pay only their fair share, providing substantial savings and peace of mind.
Average Wheeling Tax Bill
$4,656
Average Cook County Tax Bill
$4,680
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheeling, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60090 | $1,262 | $2,876 | $4,656 | $6,651 | $8,506 |
Source: Ownwell
$1,148
Average Wheeling 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 |
Save money on your property taxes with Ownwell.
Enter your address.
With just your address Ownwell will analyze your property expenses to find you savings using real time market data, local expertise and AI.
Answer some questions.
The more we know about your property, the more we can save you. There's no up-front costs, it's risk-free to sign up. Only pay if you save!
Unlock your savings.
We gather evidence, file all documentation, and attend hearings on your behalf year after year, so you never overpay again.