Lisle, Illinois Property Taxes
The median property tax rate in Lisle, IL is 2.38%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Lisle at $319,050, the typical annual property tax bill reaches $7,491, far exceeding the national median of $2,690. Property taxes in Lisle are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lisle'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 Lisle 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
Lisle, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.38%
Estimate Property Tax Bill
$7,593
$7,046
Ownwell’s Lisle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lisle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lisle 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 Lisle, Illinois
Property taxes in Lisle, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lisle is 2.38%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Lisle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lisle 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 Lisle's effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 60532 has the highest median property tax rate of 2.38%, while the same zip code also has the lowest median tax rate of 2.38%. Understanding how these cities compare with Lisle 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 Lisle Tax Rate
2.38%
Average Dupage County Tax Rate
2.22%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lisle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60532 | 2.17% | 2.28% | 2.38% | 2.43% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across Lisle, Illinois
In Lisle, 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 Assessment Office 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 Lisle, 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 Lisle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 60532 has both the highest and lowest median tax bills, each at $7,491, reflecting the diverse property values within the area.
Average Lisle Assessed Value
$319,050
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 Lisle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60532 | $103,920 | $153,570 | $319,050 | $431,190 | $536,034 |
Source: Ownwell
Property Tax Bills Across Lisle, Illinois
In Lisle, located in DuPage County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, if the median home price is $319,050, the assessed value is then determined by local assessment ratios. The property tax rate is then applied to this assessed value to calculate the tax bill. Several factors influence the final tax bill, including local tax rates, school district levies, and other municipal services. Homeowners in Lisle can expect their property tax bills to vary significantly, with the 25th percentile at $3,741 and the 75th percentile reaching $10,276. The 90th percentile can see tax bills as high as $12,927. The highest median tax bill recorded in the area is $7,491, which is significantly higher than the national median property tax rate of 0.99%. This substantial variation highlights the impact of local factors and property values on individual tax obligations, making it essential for homeowners to understand how these elements affect their annual tax bills.
Average Lisle Tax Bill
$7,491
Average Dupage County Tax Bill
$7,313
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Lisle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60532 | $2,379 | $3,741 | $7,491 | $10,276 | $12,927 |
Source: Ownwell