Newark, Kendall County, Illinois Property Taxes
Median Newark, IL effective property tax rate: 2.35%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Newark, IL home value: $236,499
Median annual Newark, IL tax bill: $5,390, $2,990 higher than the national median property tax bill of $2,400.
How are property taxes in Kendall calculated?
Property taxes in Newark, 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 Newark’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Newark, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Newark, Kendall County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.35%
Estimate Property Tax Bill
$5,558
$5,157
Property Tax Rates Across Newark, Kendall County, Illinois
Local government entities set tax rates, which can vary widely within a state. This variation is due to each county's annual estimation of its required budget to provide essential services. By dividing this budget by the total value of all taxable property within its jurisdiction, counties determine the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially how the process unfolds each year.
In Newark, located in Kendall County, the effective property tax rate is significantly higher than both the state and national medians. This high rate reflects the county's budgetary needs and property valuations. Comparing Newark's tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. reveals how local fiscal demands influence property taxes. With the national median property tax rate at 1.02% and a median property tax bill of $2,400, Newark's rate stands out. Understanding these comparisons can help property owners navigate their tax obligations more 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 Newark Taxx Rate
2.35%
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 Kendall County Taxx Rate
2.83%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Newark, Kendall County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60541 | 1.93% | 2.23% | 2.35% | 2.43% | 2.54% |
Source: Ownwell
Property Tax Assessment Values Across Newark, Kendall County, Illinois
When examining property taxes in Newark, 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 Kendall 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 Kendall 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 Newark.
For example, the median home price in Newark is $236,499, with tax bills ranging significantly across the county. Zip code 60541 has the highest median home price at $236,499.
Property Tax Assessment Values Across Newark, Kendall County, Illinois
Source: Ownwell
$139,020
$326,543
$514,065
Median Newark Market Value
$236,499
Median Kendall County Market Value
$264,846
Median Illinois Market Value
$194,700
Median United States Market Value
$244,900
Property Tax Assessment Values Across Newark, Kendall County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60541 | $129,063 | $175,350 | $236,499 | $354,494 | $460,860 |
Source: Ownwell
Property Tax Bills Across Newark, Kendall County, Illinois
Property tax bills in Newark, located in Kendall County, Illinois, are determined by the assessed value of a home, which is a percentage of its market value. The city's property tax rate is applied to this assessed value to calculate the tax bill. For homeowners in Newark, the median property tax bill is significantly higher than the national median of $2,400. In fact, the tax bill at the 25th percentile is $3,750, and it can reach up to $10,908 at the 90th percentile, reflecting how property taxes can vary greatly based on property value and location within the city.
Homeowners in Newark face a financial burden due to these high property taxes, which can impact their overall cost of living. Ownwell can help alleviate this burden by offering property tax appeal and exemption services. By leveraging expert knowledge and experience, Ownwell can assist homeowners in identifying potential savings and ensuring that they are not overpaying on their property tax bills, ultimately helping them to reduce their financial strain.
Median Newark Tax Bill
$5,390
Median Kendall County Tax Bill
$7,273
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Newark, Kendall County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60541 | $2,274 | $3,750 | $5,390 | $8,043 | $10,908 |
Source: Ownwell