Hanover Park, Dupage County, Illinois Property Taxes
Median Hanover Park, IL effective property tax rate: 2.81%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Hanover Park, IL home value: $222,840
Median annual Hanover Park, IL tax bill: $6,230, $3,830 higher than the national median property tax bill of $2,400.
How are property taxes in DuPage calculated?
Property taxes in Hanover Park, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Hanover Park’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hanover Park, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hanover Park, Dupage County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.81%
Estimate Property Tax Bill
$6,262
$5,811
Property Tax Rates Across Hanover Park, Dupage County, Illinois
Local government entities set tax rates, which can vary widely within a state. This variation is primarily due to each county's annual budget requirements. Each year, counties estimate the budget needed to provide essential services and then divide this figure by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the fundamental process followed annually.
In Hanover Park, located in DuPage County, the effective property tax rate stands out compared to other cities in Illinois. With a median property tax rate of 2.81%, Hanover Park's rate is significantly higher than the national median property tax rate of 1.02%. This higher rate translates into a substantial property tax bill for homeowners, with the median bill often exceeding the national median of $2,400. Such a high tax rate can impact homeowners' financial planning and decisions, making it crucial for property owners in Hanover Park to explore property tax appeal and exemption services to potentially reduce their tax burden.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Hanover Park Taxx Rate
2.81%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Dupage County Taxx Rate
2.22%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Hanover Park, Dupage County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60133 | 2.57% | 2.71% | 2.81% | 3.02% | 3.12% |
Source: Ownwell
Property Tax Assessment Values Across Hanover Park, Dupage County, Illinois
When examining property taxes in Hanover Park, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The DuPage County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In DuPage County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Hanover Park. For example, the median home price in Hanover Park is $222,840, with tax bills ranging significantly across the county. Zip code 60133 has the highest median home price at $222,840.
Property Tax Assessment Values Across Hanover Park, Dupage County, Illinois
Source: Ownwell
$72,210
$441,000
$809,790
Median Hanover Park Market Value
$222,840
Median Dupage County Market Value
$319,350
Median Illinois Market Value
$194,700
Median United States Market Value
$244,900
Property Tax Assessment Values Across Hanover Park, Dupage County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60133 | $141,720 | $186,450 | $222,840 | $267,750 | $295,620 |
Source: Ownwell
Property Tax Bills Across Hanover Park, Dupage County, Illinois
In Hanover Park, located in DuPage County, IL, property tax bills are calculated based on the assessed value of a property, which is determined as a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Factors such as changes in market conditions and local government budgets can influence these rates, impacting the final tax amount. Homeowners in Hanover Park face a median property tax bill of $6,230, significantly higher than the national median of $2,400. This high tax burden can strain homeowners financially, making it essential to explore ways to reduce it.
Ownwell offers valuable assistance to homeowners by identifying potential savings on property tax bills. Through a comprehensive analysis of property assessments and local tax rates, Ownwell can uncover opportunities for appeals or exemptions. By ensuring your property is fairly assessed, Ownwell helps reduce your tax liability, providing relief from the high property tax rates in Hanover Park.
Median Hanover Park Tax Bill
$6,230
Median Dupage County Tax Bill
$7,313
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Hanover Park, Dupage County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60133 | $3,670 | $5,086 | $6,230 | $7,629 | $8,586 |
Source: Ownwell