West Chicago, Illinois Property Taxes
The median property tax rate in West Chicago, IL is 2.49%, significantly higher than both the national median of 0.99% and Illinois' state median of 2.35%. With the median home value in West Chicago, the typical annual property tax bill reaches $5,389, far 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
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
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 2.49%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within WEST CHICAGO set these rates annually, and they can vary significantly 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. The data below compares WEST CHICAGO's effective property tax rate to other areas within Kane County and the national median. For comparison, the 60510 zip code has the highest median property tax rate of 2.54%, while the 60185 zip code has the lowest median tax rate of 2.49%. Understanding how these areas compare with WEST CHICAGO provides valuable insights into the varying tax landscape across Kane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Chicago Tax Rate
2.49%
Average Kane County Tax Rate
2.60%
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 | 2.25% | 2.41% | 2.49% | 2.59% | 2.70% |
| 60510 | 2.54% | 2.54% | 2.54% | 2.54% | 2.54% |
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 local 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. The median home price in West Chicago is $222,218, with tax bills ranging widely. The zip code 60510 has the highest median tax bill at $14,153, while the zip code 60185 has the lowest at $5,272. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average West Chicago Assessed Value
$222,218
Average Kane County Assessed Value
$253,745
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 | $175,220 | $185,170 | $220,417 | $257,988 | $388,642 |
| 60510 | $557,911 | $557,911 | $557,911 | $557,911 | $557,911 |
Source: Ownwell
Property Tax Bills Across West Chicago, Illinois
In West Chicago, property tax bills are calculated based on the assessed value of a home, which is determined by the Kane County Assessor's Office. This assessed value is a percentage of the property's market value. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. These rates are influenced by various factors, including funding needs for schools, public services, and infrastructure projects. For homeowners in West Chicago, the property tax burden can vary significantly. The 25th percentile tax bill stands at $4,710, while those in the 75th percentile pay around $6,612. In contrast, the 90th percentile tax bill can reach up to $10,604. This variability means that while some homeowners may find their tax bills manageable, others could face substantial financial obligations. When compared to the national median property tax rate of 0.99%, West Chicago's property tax rates reflect the local funding requirements and the assessed values of homes in the area.
Average West Chicago Tax Bill
$5,389
Average Kane County Tax Bill
$6,484
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 | $4,126 | $4,701 | $5,272 | $6,453 | $10,110 |
| 60510 | $14,153 | $14,153 | $14,153 | $14,153 | $14,153 |
Source: Ownwell