Cary, Dupage County, Illinois Property Taxes

Local government entities set property tax rates, which can differ significantly across a state. This is because each year, counties estimate the budget needed to provide services and divide that by the total value of all taxable property within their area. This calculation determines the property tax rate. Although setting tax rates and budgets involves votes and legislation, this is essentially the annual process.

In Cary, located in DuPage County, the effective property tax rate is notably higher than the national median of 1.02%. The median property tax rate in Illinois is 2.21%, which is significantly above the national average. This can result in higher property tax bills for homeowners in Cary compared to many other parts of the country.

Understanding these differences is crucial for property owners, as they directly impact the amount owed annually. By comparing Cary's effective property tax rate to other cities within Illinois and the national median, property owners can gain a clearer perspective on how their tax obligations stack up.

In Cary, located in DuPage County, IL, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is typically a percentage of the market value, which is then multiplied by the tax rate set by local authorities. Homeowners in Cary face property tax bills that can vary, but data shows that the 25th, 75th, and 90th percentiles all report a tax bill of $2,327. This figure is slightly below the national median property tax bill of $2,400. However, given the median home price of $105,480, the effective tax rate is relatively high compared to the national median property tax rate of 1.02%.

Homeowners can feel the financial burden, especially if their property's assessed value does not accurately reflect its market value. This is where Ownwell steps in, offering property tax appeal and exemption services. By leveraging expert knowledge and local data, Ownwell helps homeowners potentially reduce their tax bills, ensuring they pay a fair amount based on their property's true value.