Lafox, Kane County, Illinois Property Taxes

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

Median LAFOX, IL effective property tax rate: 2.44%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median LAFOX, IL home value: $274,428
Median annual LAFOX, IL tax bill: $6,983, $4,583 higher than the national median property tax bill of $2,400.

How are property taxes in Kane County calculated?

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

Last Updated March 1, 2025

Lafox, Kane County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.44%

Estimate Property Tax Bill

$6,696

$6,214

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

Property Tax Rates Across Lafox, Kane County, Illinois

Local government entities play a crucial role in setting property tax rates, which can significantly differ across a state. This variation arises because each county annually determines its budgetary needs to fund essential services and then divides this amount by the total assessed value of all taxable properties in its jurisdiction. This process establishes the property tax rate. Although setting tax rates involves votes and legislative measures, this budgetary calculation is at the heart of the annual process. In Lafox, located in Kane County, Illinois, the effective property tax rate can be compared to other cities in Illinois and the broader U.S. median. Notably, Illinois has a median property tax rate significantly higher than the national median of 1.02%, reflecting the state's approach to funding local services. This comparison highlights the importance of understanding local tax dynamics, which can impact property owners' financial responsibilities.

Property Tax Rates Across Lafox, Kane County, Illinois

Source: Ownwell

2.23%

2.57%

2.91%

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 Lafox Tax Rate

2.44%

Median Effective Kane County Tax Rate

2.60%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lafox, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60147	2.26%	2.35%	2.44%	2.64%	2.64%

Source: Ownwell

Property Tax Assessment Values Across Lafox, Kane County, Illinois

When examining property taxes in Lafox, 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 May. 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 Lafox. For example, the median home price in Lafox is $274,428, with tax bills ranging significantly across the county. Zip code 60147 has the highest median home price at $274,428.

Property Tax Assessment Values Across Lafox, Kane County, Illinois

Source: Ownwell

$142,312

$365,554

$588,796

Median Lafox Market Value

$274,428

Median Kane County Market Value

$253,745

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lafox, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60147	$175,179	$223,317	$274,428	$369,754	$430,606

Source: Ownwell

Property Tax Bills Across Lafox, Kane County, Illinois

In Lafox, Kane County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and market conditions can influence the assessed value. The median home price in Lafox is $274,428, and homeowners can expect varied tax bills depending on their property's assessed value. For instance, tax bills in the 25th percentile are around $5,310, while those in the 75th percentile can reach $9,186. This can significantly impact homeowners, especially when compared to the national median property tax bill of $2,400. Ownwell offers property tax appeal and exemption services to help homeowners reduce their tax burdens. By analyzing property assessments and market data, Ownwell identifies opportunities for tax reductions, potentially saving homeowners substantial amounts on their property tax bills. This service ensures homeowners pay only their fair share, providing peace of mind and financial relief.

Property Tax Bills Across Lafox, Kane County, Illinois

Source: Ownwell

$3,136

$9,682

$16,228

Median Lafox Tax Bill

$6,983

Median Kane County Tax Bill

$6,484

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Lafox, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60147	$4,069	$5,310	$6,983	$9,186	$11,095

Source: Ownwell