Sugar Grove, Illinois Property Taxes
The median property tax rate in Sugar Grove, IL is 2.82%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Sugar Grove at $514,065, the typical annual property tax bill reaches $14,377, exceeding the national median of $2,690. Property taxes in Sugar Grove 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 Sugar Grove'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 Sugar Grove 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
Sugar Grove, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.82%
Estimate Property Tax Bill
$14,497
$14,165
Ownwell’s Sugar Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sugar Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sugar Grove 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 Sugar Grove, Illinois
Property taxes in Sugar Grove, Illinois, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sugar Grove is 2.82%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Sugar Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sugar Grove 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 Sugar Grove's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 60554 has the highest median property tax rate of 2.82%, while the same zip code has the lowest median tax rate of 2.82%. Understanding how these cities compare with Sugar Grove provides valuable insights into the varying tax landscape across Kendall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sugar Grove Tax Rate
2.82%
Average Kendall County Tax Rate
2.83%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sugar Grove, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60554 | 2.79% | 2.79% | 2.82% | 2.89% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Sugar Grove, Illinois
In Sugar Grove, 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 Kendall County Assessor 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 Sugar Grove, 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. 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 in Sugar Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Sugar Grove is 60554, with a median tax bill of $14,377.
Average Sugar Grove Assessed Value
$514,065
Average Kendall County Assessed Value
$264,846
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sugar Grove, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60554 | $260,034 | $405,822 | $514,065 | $675,308 | $705,051 |
Source: Ownwell
Property Tax Bills Across Sugar Grove, Illinois
In Sugar Grove, located in Kendall County, IL, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value. For instance, with a median home price of $514,065, homeowners can expect significant property tax bills. The tax bill at the 25th percentile is around $11,511, while at the 75th percentile, it rises to $19,312. The highest median tax bill in the area is $14,377, which is consistent across zip code 60554. Several factors influence these tax bills, including local government budgets, school district funding needs, and public services. These taxes significantly impact homeowners, as they are a considerable annual expense. Compared to the national median property tax rate of 0.99%, the tax rates in Sugar Grove can lead to higher financial commitments for property owners. Understanding these factors can help homeowners anticipate and manage their property tax obligations effectively.
Average Sugar Grove Tax Bill
$14,377
Average Kendall County Tax Bill
$7,273
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Sugar Grove, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60554 | $7,025 | $11,511 | $14,377 | $19,312 | $19,913 |
Source: Ownwell