Clarendon Hills, Illinois Property Taxes
The median property tax rate in Clarendon Hills, IL is 1.95%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Clarendon Hills, the typical annual property tax bill reaches $9,711, significantly exceeding the national median of $2,690. Property taxes in Clarendon Hills 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 Clarendon Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Clarendon Hills 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
Clarendon Hills, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.95%
Estimate Property Tax Bill
$9,789
$9,084
Ownwell’s Clarendon Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarendon Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarendon Hills 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Clarendon Hills, Illinois
Property taxes in Clarendon Hills, Illinois, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarendon Hills is 1.95%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Clarendon Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarendon Hills 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 Clarendon Hills' effective property tax rate to other counties in Illinois and the national median. For comparison, the 60514 zip code has the highest median property tax rate of 1.95%, while the same zip code also has the lowest median tax rate of 1.95%. Understanding how these cities compare with Clarendon Hills 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 Clarendon Hills Tax Rate
1.95%
Average Dupage County Tax Rate
2.22%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarendon Hills, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60514 | 1.80% | 1.89% | 1.95% | 1.97% | 2.06% |
Source: Ownwell
Property Tax Assessment Values Across Clarendon Hills, Illinois
In Clarendon Hills, 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 DuPage County Assessor 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 Clarendon Hills, 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. For instance, the median home price in Clarendon Hills is $501,990, with tax bills ranging from $6,153 at the 25th percentile to $24,009 at the 90th percentile. The zip code 60514 sees the highest and lowest median tax bills at $9,711. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Clarendon Hills, Illinois
Source: Ownwell
$2,760
$1,600,770
$3,198,780
Average Clarendon Hills Assessed Value
$501,990
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 Clarendon Hills, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60514 | $196,950 | $320,160 | $501,990 | $842,430 | $1,221,954 |
Source: Ownwell
Property Tax Bills Across Clarendon Hills, Illinois
In Clarendon Hills, located in DuPage County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value, influenced by factors such as the property's size, location, and condition. Homeowners in Clarendon Hills face a median property tax rate that significantly impacts their annual expenses. For instance, the median home price in Clarendon Hills is $501,990, leading to substantial tax bills. Tax bills in this area vary widely, with the 25th percentile at $6,153, the 75th percentile at $16,806, and the 90th percentile reaching $24,009. These figures highlight the substantial financial commitment required from homeowners, especially when compared to the national median property tax rate of 0.99%. Additionally, the highest and lowest median tax bills in Clarendon Hills are both $9,711, indicating a consistent tax rate across different properties. This system ensures that property taxes are a significant consideration for current and prospective homeowners in Clarendon Hills.
Average Clarendon Hills Tax Bill
$9,711
Average Dupage County Tax Bill
$7,313
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarendon Hills, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60514 | $3,576 | $6,153 | $9,711 | $16,806 | $24,009 |
Source: Ownwell