Evanston, Illinois Property Taxes
The median property tax rate in Evanston, IL is 2.66%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Evanston, the typical annual property tax bill reaches $2,082, exceeding the national median of $2,690. Property taxes in Evanston 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 Evanston'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 Evanston 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
Evanston, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Evanston Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Evanston with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Evanston to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Evanston, Illinois
Property taxes in Evanston, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Evanston is 2.66%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Evanston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Evanston 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 Evanston's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60204 zip code has the highest median property tax rate of 2.66%, while the same zip code also represents the lowest median tax rate of 2.66%. Understanding how these cities compare with Evanston 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 Evanston Tax Rate
2.66%
Average Dupage County Tax Rate
2.22%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Evanston, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60204 | 2.66% | 2.66% | 2.66% | 2.66% | 2.66% |
Source: Ownwell
Property Tax Assessment Values Across Evanston, Illinois
In Evanston, 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 Evanston, 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. The median home price in Evanston is $78,270, and the median tax bill is $2,082. Notably, the zip code with the highest median tax bill is 60204, also at $2,082, while the lowest median tax bill is found in the same zip code. 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 Evanston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Evanston Assessed Value
$78,270
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 Evanston, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60204 | $78,270 | $78,270 | $78,270 | $78,270 | $78,270 |
Source: Ownwell
Property Tax Bills Across Evanston, Illinois
In Evanston, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value. For instance, if a home has a median market price of $78,270, the assessed value will be a fraction of that amount. Once the assessed value is established, the local tax rate is applied to determine the tax bill. Various factors influence the tax bill, including the property's location within DuPage County and any applicable exemptions or deductions that homeowners might qualify for. In Evanston, the median property tax rate is notably higher than the national median of 0.99%, resulting in a median tax bill of $2,082. This higher tax rate can significantly impact homeowners, often leading to higher annual expenses compared to other regions. Understanding these factors is crucial for homeowners to anticipate their financial obligations accurately.
Average Evanston Tax Bill
$2,082
Average Dupage County Tax Bill
$7,313
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Evanston, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60204 | $2,082 | $2,082 | $2,082 | $2,082 | $2,082 |
Source: Ownwell