Hickory Hills, Illinois Property Taxes
The median property tax rate in Hickory Hills, IL is 2.30%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Hickory Hills, the typical annual property tax bill reaches $79, significantly lower than the national median of $2,690. Property taxes in Hickory 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 Hickory 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 Hickory 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
Hickory Hills, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$79
$77
Ownwell’s Hickory Hills Property Tax Bill Calculator provides homeowners, real estate investors, and potential buyers with a convenient way to estimate their annual property taxes in Hickory Hills using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hickory Hills to predict your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular details, you can scroll down to explore trends on a neighborhood level. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Hickory Hills, Illinois
Property taxes in Hickory Hills, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hickory Hills is 2.30%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Hickory Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hickory 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 Hickory Hills' effective property tax rate to other counties in Illinois and the national median. For comparison, the 60457 zip code has the highest median property tax rate of 2.30%, while the same zip code also has the lowest median tax rate of 2.30%. Understanding how these cities compare with Hickory 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 Hickory Hills Tax Rate
2.30%
Average Dupage County Tax Rate
2.22%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hickory Hills, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60457 | 2.30% | 2.30% | 2.30% | 2.30% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Hickory Hills, Illinois
In Hickory 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 Hickory 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. Being aware of these valuation processes in Hickory Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hickory Hills, Illinois
Source: Ownwell
$2,760
$1,600,770
$3,198,780
Average Hickory Hills Assessed Value
$3,420
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 Hickory Hills, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60457 | $3,420 | $3,420 | $3,420 | $3,420 | $3,420 |
Source: Ownwell
Property Tax Bills Across Hickory Hills, Illinois
In Hickory Hills, IL, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor. The assessed value is then multiplied by the local tax rate to determine the tax bill. For instance, in DuPage County, where Hickory Hills is located, the median home price significantly impacts the calculation. Homeowners in this area typically see a tax bill around $79, which aligns with the 25th, 75th, and 90th percentiles, indicating a consistent tax rate across different property values. Several factors influence the final tax bill, including the property's market value, any applicable exemptions, and the specific tax rate set by local taxing authorities. Compared to the national median property tax rate of 0.99%, Hickory Hills residents might find their tax rates relatively stable. Understanding these factors is crucial for homeowners as it directly affects their annual financial planning and the overall affordability of homeownership in the region.
Average Hickory Hills Tax Bill
$79
Average Dupage County Tax Bill
$7,313
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Hickory Hills, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60457 | $79 | $79 | $79 | $79 | $79 |
Source: Ownwell