Bensenville, Illinois Property Taxes
The median property tax rate in Bensenville, IL is 2.74%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Bensenville at $235,185, the typical annual property tax bill reaches $6,163, far exceeding the national median of $2,690. Property taxes in Bensenville 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 Bensenville'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 Bensenville 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
Bensenville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.74%
Estimate Property Tax Bill
$6,444
$5,980
Ownwell’s Bensenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bensenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bensenville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 DuPage County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bensenville, Illinois
Property taxes in Bensenville, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bensenville is 2.74%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Bensenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bensenville 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 Bensenville's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 60101 has the highest median property tax rate of 2.74%, while the zip code 60106 has the lowest median tax rate of 2.74%. Understanding how these cities compare with Bensenville provides valuable insights into the varying tax landscape across DuPage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bensenville Tax Rate
2.74%
Average Dupage County Tax Rate
2.22%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bensenville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60101 | 2.74% | 2.74% | 2.74% | 2.74% | 2.74% |
| 60106 | 2.10% | 2.45% | 2.74% | 2.81% | 2.87% |
Source: Ownwell
Property Tax Assessment Values Across Bensenville, Illinois
In Bensenville, Illinois, understanding the distinction between "market value" and "assessed value" is essential for comprehending property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the DuPage County Assessor for tax purposes. On the other hand, 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 Bensenville, 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 zip code with the highest median tax bill is 60101 at $6,711, while the lowest is 60106 at $6,163. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Awareness of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bensenville, Illinois
Source: Ownwell
$2,760
$1,600,770
$3,198,780
Average Bensenville Assessed Value
$235,185
Average Dupage County Assessed Value
$319,350
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bensenville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60101 | $244,950 | $244,950 | $244,950 | $244,950 | $244,950 |
| 60106 | $103,500 | $193,560 | $235,170 | $297,180 | $381,150 |
Source: Ownwell
Property Tax Bills Across Bensenville, Illinois
In Bensenville, located in DuPage County, IL, property tax bills are calculated based on the assessed value of a home. The local assessor determines this value, which typically represents a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to calculate the tax bill. Several factors influence the final tax bill, including the property's size, age, location, and any improvements made. Homeowners in Bensenville experience varying tax bills. For example, the 25th percentile tax bill is approximately $4,915, while the 75th percentile reaches around $7,758. At the 90th percentile, homeowners might pay up to $10,002. The highest median tax bill in the area is $6,711 in the 60101 zip code, whereas the lowest is $6,163 in the 60106 zip code. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the local economic conditions and funding needs for public services. This variation significantly impacts homeowners, influencing their overall cost of living and financial planning.
Average Bensenville Tax Bill
$6,163
Average Dupage County Tax Bill
$7,313
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Bensenville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60101 | $6,711 | $6,711 | $6,711 | $6,711 | $6,711 |
| 60106 | $2,587 | $4,914 | $6,163 | $7,759 | $10,003 |
Source: Ownwell