Algonquin, Kane County, Illinois Property Taxes
Median Algonquin, IL effective property tax rate: 2.60%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Algonquin, IL home value: $307,730
Median annual Algonquin, IL tax bill: $7,930, $5,530 higher than the national median property tax bill of $2,400.
How are property taxes in Kane calculated?
Property taxes in Algonquin, 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 Algonquin’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Algonquin, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Algonquin, Kane County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.6%
Estimate Property Tax Bill
$8,001
$7,425
Property Tax Rates Across Algonquin, Kane County, Illinois
Local government entities set tax rates, which can vary widely within a state. This is because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Algonquin’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Algonquin, located in Kane County, has a median property tax rate of 2.60%, which is significantly higher than the national median of 1.02%. This places Algonquin among the areas with the highest property tax rates in the nation. The tax rate here is consistent across the region, highlighting the uniformity in how property taxes are assessed within this area. Understanding these rates is crucial for homeowners looking to manage their property tax expenses effectively.
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 Algonquin Taxx Rate
2.60%
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 Kane County Taxx Rate
2.60%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Algonquin, Kane County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60102 | 2.38% | 2.52% | 2.60% | 2.63% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Algonquin, Kane County, Illinois
When examining property taxes in Algonquin, 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 Kane County assessor 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 Kane 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 Algonquin. For example, the median home price in Algonquin is $307,730, with tax bills ranging significantly across the county. 60102 has the highest median home price at $307,730.
Property Tax Assessment Values Across Algonquin, Kane County, Illinois
Source: Ownwell
$142,312
$365,554
$588,796
Median Algonquin Market Value
$307,730
Median Kane County Market Value
$253,745
Median Illinois Market Value
$194,700
Median United States Market Value
$244,900
Property Tax Assessment Values Across Algonquin, Kane County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60102 | $180,651 | $211,909 | $307,730 | $354,473 | $391,921 |
Source: Ownwell
Property Tax Bills Across Algonquin, Kane County, Illinois
In Algonquin, located in Kane County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. With a median home price of $307,730, homeowners might see tax bills that significantly surpass the national median property tax bill of $2,400. In fact, the median tax bill in Algonquin is $7,930, with some homeowners paying between $5,452 at the 25th percentile and $10,248 at the 90th percentile. These figures highlight the potential financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%.
Factors such as local tax rates and school district funding needs contribute to the overall tax bill. For homeowners feeling the pinch, Ownwell offers property tax appeal services that can help reduce these costs. By leveraging their expertise, Ownwell identifies potential savings and guides homeowners through the appeal process, potentially lowering their tax obligations and providing much-needed financial relief.
Median Algonquin Tax Bill
$7,930
Median Kane County Tax Bill
$6,484
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Algonquin, Kane County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60102 | $4,267 | $5,452 | $7,930 | $9,229 | $10,248 |
Source: Ownwell