New Lenox, Will County, Illinois Property Taxes

Name: Property Tax Bills Across New Lenox, Will County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median New Lenox, IL effective property tax rate: 2.70%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median New Lenox, IL home value: $314,547
Median annual New Lenox, IL tax bill: $8,408, $6,008 higher than the national median property tax bill of $2,400.

How are property taxes in Will County calculated?

Property taxes in New Lenox, 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 New Lenox’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Lenox, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

New Lenox, Will County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.7%

Estimate Property Tax Bill

$8,493

$7,881

Ownwell’s New Lenox Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in New Lenox with just two data points.

By entering your property's estimated assessed value, our calculator applies New Lenox’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Will County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across New Lenox, Will County, Illinois

Local government entities set property tax rates, which can differ significantly within a state. Annually, each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these tax rates and budgets, this is the annual process in a nutshell.

In New Lenox, located in Will County, Illinois, the effective property tax rate is notably higher than the national median. This makes New Lenox's tax rate one of the highest in the state. Such a high rate can significantly impact homeowners, making it crucial to explore property tax appeals and exemptions to potentially reduce your tax burden. When compared to the national median property tax rate of 1.02%, New Lenox stands out for its elevated rates. Understanding these differences can help residents make informed decisions about their property investments and financial planning.

Property Tax Rates Across New Lenox, Will County, Illinois

Source: Ownwell

1.73%

3.67%

5.61%

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 New Lenox Tax Rate

2.70%

Median Effective Will County Tax Rate

2.62%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across New Lenox, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60451	2.47%	2.59%	2.70%	2.75%	2.78%

Source: Ownwell

Property Tax Assessment Values Across New Lenox, Will County, Illinois

When examining property taxes in New Lenox, 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 Will County Assessor 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 Will 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 New Lenox.

For example, the median home price in New Lenox is $314,547, with tax bills ranging significantly across the county. ZIP code 60451 has the highest median home price at $314,547.

Property Tax Assessment Values Across New Lenox, Will County, Illinois

Source: Ownwell

$101,070

$390,154

$679,238

Median New Lenox Market Value

$314,547

Median Will County Market Value

$251,502

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across New Lenox, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60451	$186,699	$247,518	$314,547	$384,087	$437,958

Source: Ownwell

Property Tax Bills Across New Lenox, Will County, Illinois

In New Lenox, Illinois, property tax bills are calculated based on the assessed value of a home, typically a percentage of its market value. Homeowners in Will County face a median property tax bill of $8,408, considerably higher than the national median of $2,400. Factors influencing these bills include local government budgets, school funding, and public service requirements. For example, in New Lenox, the tax bill for the 25th percentile is $6,295, while the 75th percentile sees a tax bill of $10,451. This wide range highlights the variability in property taxes based on property values and local assessments. Such high tax bills can significantly impact homeowners by increasing the cost of owning a home. Ownwell can assist by offering property tax appeal services, potentially reducing these burdensome costs. By analyzing property assessments and market conditions, Ownwell provides tailored strategies to help homeowners lower their tax liabilities, ensuring they only pay what is fair and accurate.

Property Tax Bills Across New Lenox, Will County, Illinois

Source: Ownwell

$1,870

$11,744

$21,617

Median New Lenox Tax Bill

$8,408

Median Will County Tax Bill

$6,703

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across New Lenox, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60451	$4,598	$6,295	$8,408	$10,451	$11,993

Source: Ownwell