Naperville, Illinois Property Taxes
The median property tax rate in Naperville, IL is 2.31%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Naperville, the typical annual property tax bill reaches $11,515, exceeding the national median of $2,690. Property taxes in Naperville 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 Naperville'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 Naperville 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
Naperville, 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 Naperville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Naperville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Naperville 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 Naperville, Illinois
Property taxes in Naperville, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Naperville is 2.31%, significantly higher than both the Illinois state median of 2.16% and the U.S. national median of 0.99%. Local government entities within Naperville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Naperville 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 Naperville's effective property tax rate to other areas in Illinois and the national median. For comparison, the 60564 zip code has the highest median property tax rate of 2.32%, while the 60565 zip code has the lowest median tax rate of 2.23%. Understanding how these areas compare with Naperville provides valuable insights into the varying tax landscape across Will County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Naperville Tax Rate
2.31%
Average Will County Tax Rate
2.62%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Naperville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60564 | 2.17% | 2.27% | 2.32% | 2.35% | 2.37% |
| 60565 | 2.12% | 2.19% | 2.23% | 2.32% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Naperville, Illinois
In Naperville, 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 Will 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. 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. For instance, the highest median tax bill in Naperville is $11,700 in the 60565 zip code, while the lowest is $11,430 in the 60564 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Naperville Assessed Value
$502,368
Average Will County Assessed Value
$251,502
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Naperville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60564 | $247,010 | $348,974 | $493,972 | $598,060 | $697,203 |
| 60565 | $322,288 | $401,031 | $519,840 | $591,417 | $722,291 |
Source: Ownwell
Property Tax Bills Across Naperville, Illinois
In Naperville, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the market value. For homeowners in this city, the median home price is $502,368. The property tax rate in Will County, where Naperville is located, is applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. In Naperville, the 25th percentile of tax bills is $8,281, while the 75th percentile is $13,823. For those at the 90th percentile, the tax bill can reach up to $16,371. The highest median tax bill is found in the 60565 zip code, amounting to $11,700, while the lowest is in the 60564 zip code at $11,430. These property tax rates can significantly impact homeowners, potentially affecting their overall housing costs and financial planning.
Average Naperville Tax Bill
$11,515
Average Will County Tax Bill
$6,703
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Naperville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60564 | $5,578 | $7,816 | $11,430 | $13,977 | $16,377 |
| 60565 | $6,858 | $8,901 | $11,700 | $13,369 | $16,338 |
Source: Ownwell