Oakbrook Terrace, Dupage County, Illinois Property Taxes

Name: Property Tax Bills Across Oakbrook Terrace, Dupage County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Oakbrook Terrace, IL effective property tax rate: 1.72%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Oakbrook Terrace, IL home value: $282,210
Median annual Oakbrook Terrace, IL tax bill: $4,762, $2,362 higher than the national median property tax bill of $2,400.

How are property taxes in DuPage calculated?

Property taxes in Oakbrook Terrace, 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 Oakbrook Terrace’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oakbrook Terrace, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Oakbrook Terrace, Dupage County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.72%

Estimate Property Tax Bill

$4,854

$4,504

Ownwell’s Oakbrook Terrace Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Oakbrook Terrace with just two data points. By entering your property's estimated assessed value, our calculator applies Oakbrook Terrace’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in DuPage County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Oakbrook Terrace, Dupage County, Illinois

Local government entities determine property tax rates, leading to significant variations within a state. This is because each county, including DuPage, calculates its budget needs annually and divides this by the total assessed value of taxable properties. This division results in the property tax rate. While setting these rates involves votes and legislation, this is the basic annual process.

In Oakbrook Terrace, located in DuPage County, the effective property tax rate stands at 1.72%, which is notably higher than the national median of 1.02%. This means that homeowners in Oakbrook Terrace face a greater tax burden compared to the national average. Despite the higher rate, it is important to consider the value of services provided by the local government, which are funded by these taxes.

Comparing Oakbrook Terrace's tax rate to other cities in Illinois, it aligns with the state's median rate, reflecting a consistent approach across the region. Understanding these rates can help homeowners make informed decisions about property ownership and potential tax appeals.

Property Tax Rates Across Oakbrook Terrace, Dupage County, Illinois

Source: Ownwell

1.32%

2.17%

3.03%

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 Oakbrook Terrace Taxx Rate

1.72%

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 Oakbrook Terrace, Dupage County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60181	1.49%	1.63%	1.72%	1.78%	1.84%

Source: Ownwell

Property Tax Assessment Values Across Oakbrook Terrace, Dupage County, Illinois

When examining property taxes in Oakbrook Terrace, 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 assessment 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 April. 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 Oakbrook Terrace. For example, the median home price in Oakbrook Terrace is $282,210, with tax bills ranging significantly across the county. ZIP code 60181 has the highest median home price at $282,210.

Property Tax Assessment Values Across Oakbrook Terrace, Dupage County, Illinois

Source: Ownwell

$72,210

$441,000

$809,790

Median Oakbrook Terrace Market Value

$282,210

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 Oakbrook Terrace, Dupage County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60181	$188,220	$237,840	$282,210	$376,665	$479,130

Source: Ownwell

Property Tax Bills Across Oakbrook Terrace, Dupage County, Illinois

In Oakbrook Terrace, DuPage County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the market value, and the tax rate is applied to this figure. Homeowners in Oakbrook Terrace face a median tax bill of $4,762, notably higher than the national median of $2,400. The 25th percentile tax bill is $3,857, while the 75th percentile reaches $6,413, with some homeowners seeing bills as high as $10,404 at the 90th percentile. These figures highlight the significant impact property taxes can have on homeowners' budgets, especially when compared to the national median property tax rate of 1.02%. Ownwell can assist homeowners by reviewing their property assessments and identifying potential discrepancies or opportunities for exemptions. By appealing inaccurate assessments and securing eligible exemptions, Ownwell helps homeowners in Oakbrook Terrace potentially reduce their property tax burden, ensuring they pay only their fair share.

Property Tax Bills Across Oakbrook Terrace, Dupage County, Illinois

Source: Ownwell

$1,758

$7,802

$13,846

Median Oakbrook Terrace Tax Bill

$4,762

Median Dupage County Tax Bill

$7,313

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Oakbrook Terrace, Dupage County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60181	$2,801	$3,857	$4,762	$6,413	$10,404

Source: Ownwell