Wasco, Kane County, Illinois Property Taxes

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

Median Wasco, IL effective property tax rate: 2.42%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Wasco, IL home value: $224,589
Median annual Wasco, IL tax bill: $5,435, $3,035 higher than the national median property tax bill of $2,400.

How are property taxes in Kane calculated?

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

Last Updated March 1, 2025

Wasco, Kane County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.42%

Estimate Property Tax Bill

$5,435

$5,044

Ownwell’s Wasco Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Wasco with just two data points. By entering your property's estimated assessed value, our calculator applies Wasco’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 Wasco, Kane County, Illinois

Local government entities are responsible for setting property tax rates, and these can vary significantly within a state. This variation is primarily because each county annually estimates its required budget to provide services and then divides that by the total assessed value of all taxable property within its jurisdiction. The result of this calculation is the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core annual process.

In Wasco, located in Kane County, the effective property tax rate is notably high compared to other cities in Illinois. The median property tax rate in Illinois is significantly above the national median of 1.02%. This means homeowners in Wasco face higher property tax bills than many other parts of the country, where the national median property tax bill is $2,400. Understanding these differences can help property owners make informed decisions about appealing their property taxes or seeking exemptions.

Property Tax Rates Across Wasco, 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 Wasco Taxx Rate

2.42%

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 Wasco, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60183	1.88%	2.16%	2.42%	2.63%	2.63%

Source: Ownwell

Property Tax Assessment Values Across Wasco, Kane County, Illinois

When examining property taxes in Wasco, 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 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 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 Wasco.

For example, the median home price in Wasco is $224,589, with tax bills ranging significantly across the county. Zip code 60183 has the highest median home price at $224,589.

Property Tax Assessment Values Across Wasco, Kane County, Illinois

Source: Ownwell

$142,312

$365,554

$588,796

Median Wasco Market Value

$224,589

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 Wasco, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60183	$164,456	$183,884	$224,589	$258,115	$305,477

Source: Ownwell

Property Tax Bills Across Wasco, Kane County, Illinois

In Wasco, located in Kane County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value. With a median home price of $224,589, homeowners in Wasco face property tax bills that can vary significantly. The 25th percentile tax bill is approximately $3,970, while the 75th percentile reaches around $6,000, and the 90th percentile can be as high as $7,607. This variation highlights the impact of property taxes on homeowners, who may find themselves paying above the national median property tax bill of $2,400. Ownwell offers assistance to homeowners by providing property tax appeal services, potentially reducing their tax burden. By analyzing property assessments and market data, Ownwell identifies opportunities for tax savings, ensuring that homeowners are not overpaying. This can lead to substantial savings, making homeownership more affordable and manageable in Wasco.

Property Tax Bills Across Wasco, Kane County, Illinois

Source: Ownwell

$3,136

$9,682

$16,228

Median Wasco Tax Bill

$5,435

Median Kane County Tax Bill

$6,484

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Wasco, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60183	$3,444	$3,970	$5,435	$6,000	$7,607

Source: Ownwell