Cypress, Johnson County, Illinois Property Taxes

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

Median Cypress, IL effective property tax rate: 2.13%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Cypress, IL home value: $59,151
Median annual Cypress, IL tax bill: $983, $1,417 lower than the national median property tax bill of $2,400.

How are property taxes in Johnson County calculated?

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

Last Updated March 1, 2025

Cypress, Johnson County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.13%

Estimate Property Tax Bill

$1,260

$1,169

Ownwell’s Cypress Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cypress with just two data points. By entering your property's estimated assessed value, our calculator applies Cypress’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 Johnson County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cypress, Johnson County, Illinois

Local government entities set tax rates, which can differ significantly within Illinois. This is because each county annually estimates the budget needed to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell. In Cypress, located in Johnson County, the effective property tax rate reflects this process. When comparing Cypress's rate to other cities in Illinois, it aligns with the state's median property tax rate. The state's median rate is notably higher than the national median of 1.02%, with Illinois homeowners often facing a more substantial property tax bill compared to the national median bill of $2400. Understanding these differences can offer valuable insights for property owners considering tax appeal or exemption services.

Property Tax Rates Across Cypress, Johnson County, Illinois

Source: Ownwell

2.02%

2.16%

2.30%

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 Cypress Taxx Rate

2.13%

Median Effective Johnson County Taxx Rate

2.14%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Cypress, Johnson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62923	0.80%	1.65%	2.13%	2.42%	2.89%

Source: Ownwell

Property Tax Assessment Values Across Cypress, Johnson County, Illinois

When examining property taxes in Cypress, 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 Johnson County appraisal district 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 Johnson 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 Cypress. For example, the median home price in Cypress is $59,151, with tax bills ranging significantly across the county. The zip code 62923 has the highest median home price at $59,151.

Property Tax Assessment Values Across Cypress, Johnson County, Illinois

Source: Ownwell

$45,969

$73,178

$100,386

Median Cypress Market Value

$59,151

Median Johnson County Market Value

$71,244

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Cypress, Johnson County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62923	$11,787	$25,506	$59,151	$102,966	$134,313

Source: Ownwell

Property Tax Bills Across Cypress, Johnson County, Illinois

In Cypress, located in Johnson County, IL, property tax bills are determined by the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the market value of the home, which is then multiplied by the tax rate set by local authorities to calculate the tax bill. Homeowners in Cypress face a median property tax bill of $983, which is significantly lower than the national median of $2,400. However, property tax bills can vary, with some homeowners paying as low as $376 and others as high as $3,041, depending on the value of their property and local tax assessments.

For homeowners in Cypress looking to reduce their property tax burden, Ownwell offers expert property tax appeal and exemption services. By analyzing property assessments and ensuring they are accurate, Ownwell can help homeowners secure potential savings. Our team works diligently to identify discrepancies and advocate for fair property tax assessments, helping homeowners in Cypress save money and reduce their financial stress.

Property Tax Bills Across Cypress, Johnson County, Illinois

Source: Ownwell

$822

$1,256

$1,689

Median Cypress Tax Bill

$983

Median Johnson County Tax Bill

$1,237

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Cypress, Johnson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62923	$146	$376	$983	$1,992	$3,041

Source: Ownwell