West Chicago, Illinois Property Taxes
The median property tax rate in West Chicago, IL is 2.80%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in West Chicago at $261,315, the typical annual property tax bill reaches $6,953, exceeding the national median of $2,690. Property taxes in West Chicago 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 West Chicago'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 West Chicago 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
West Chicago, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.8%
Estimate Property Tax Bill
$7,317
$6,790
Ownwell’s West Chicago Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Chicago with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Chicago 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 West Chicago, Illinois
Property taxes in West Chicago, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Chicago is 2.80%, significantly higher than the U.S. national median of 0.99%. Local government entities within West Chicago set these rates annually, and they can vary across different neighborhoods. Each year, West Chicago 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. Understanding how West Chicago's effective property tax rate compares to other areas in DuPage County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Chicago Tax Rate
2.80%
Average Dupage County Tax Rate
2.22%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Chicago, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60185 | 2.32% | 2.61% | 2.80% | 2.92% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across West Chicago, Illinois
In West Chicago, 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 Appraisal District 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 West Chicago, 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. The median home price in West Chicago is $261,315, with tax bills ranging from $5,331 at the 25th percentile to $12,312 at the 90th percentile. The zip code 60185 has the highest and lowest median tax bill at $6,953. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across West Chicago, Illinois
Source: Ownwell
$2,760
$1,600,770
$3,198,780
Average West Chicago Assessed Value
$261,315
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 West Chicago, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60185 | $109,140 | $199,568 | $261,315 | $365,025 | $441,330 |
Source: Ownwell
Property Tax Bills Across West Chicago, Illinois
In West Chicago, located in DuPage County, IL, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. West Chicago homeowners face a median property tax rate that is higher than the national median of 0.99%. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For instance, the median home price in West Chicago is $261,315. Homeowners in the 25th percentile pay around $5,331 annually, while those in the 75th percentile see bills closer to $10,055. At the 90th percentile, the tax bill can reach up to $12,312. The highest and lowest median tax bills in the area are both $6,953, indicating some consistency within specific zip codes. These property tax rates significantly impact homeowners, influencing decisions on purchasing and maintaining homes in the area.
Average West Chicago Tax Bill
$6,953
Average Dupage County Tax Bill
$7,313
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across West Chicago, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60185 | $2,694 | $5,331 | $6,953 | $10,055 | $12,312 |
Source: Ownwell