Kirkland, Illinois Property Taxes
The median property tax rate in Kirkland, IL is 2.62%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Kirkland at $295,503, the typical annual property tax bill reaches $7,750, significantly exceeding the national median of $2,690. Property taxes in Kirkland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kirkland'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 Kirkland 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
Kirkland, 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 Kirkland Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Kirkland with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Kirkland to estimate your property tax bill. This practical tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, simply scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Kirkland, Illinois
Property taxes in Kirkland, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kirkland is 2.62%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Kirkland set these rates annually, and they can vary across different neighborhoods. Each year, Kirkland 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 Kirkland's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 60146 has both the highest and lowest median property tax rate of 2.62%. Understanding how these cities compare with Kirkland provides valuable insights into the varying tax landscape across Ogle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kirkland Tax Rate
2.62%
Average Ogle County Tax Rate
2.50%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kirkland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60146 | 2.60% | 2.62% | 2.62% | 2.79% | 2.92% |
Source: Ownwell
Property Tax Assessment Values Across Kirkland, Illinois
In Kirkland, 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 Ogle County 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 Kirkland, 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 Kirkland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill in Kirkland is 60146, with a median tax bill of $7,750.
Average Kirkland Assessed Value
$295,503
Average Ogle County Assessed Value
$139,425
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kirkland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60146 | $249,395 | $271,737 | $295,503 | $297,699 | $392,555 |
Source: Ownwell
Property Tax Bills Across Kirkland, Illinois
In Kirkland, IL, property tax bills are calculated 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 to determine the annual tax bill. Various factors influence the tax bill, including property size, location, and any applicable exemptions or abatements. For homeowners in Kirkland, the median home price stands at $295,503. The tax bill can vary significantly, with the 25th percentile at $7,589 and the 75th percentile at $7,811. The 90th percentile of tax bills reaches up to $11,342, demonstrating the range influenced by property specifics and assessed values. The highest median tax bill in the area is $7,750, found in the 60146 zip code, which also has the lowest median tax bill, indicating a consistent tax rate within that region. Homeowners in Kirkland should be aware that property taxes can significantly impact their annual expenses, especially when compared to the national median property tax rate of 0.99%. Properly understanding these factors can help in financial planning and potential tax appeals.
Average Kirkland Tax Bill
$7,750
Average Ogle County Tax Bill
$3,458
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Kirkland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60146 | $6,663 | $7,589 | $7,750 | $7,811 | $11,342 |
Source: Ownwell