Steger, Will County, Illinois Property Taxes
Median Steger, IL effective property tax rate: 3.24%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Steger, IL home value: $122,340
Median annual Steger, IL tax bill: $3,887, $1,487 higher than the national median property tax bill of $2,400.
How are property taxes in Will County calculated?
Property taxes in Steger, 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 Steger’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Steger, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Steger, Will County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.24%
Estimate Property Tax Bill
$3,964
$3,678
Property Tax Rates Across Steger, Will County, Illinois
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Steger’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
Steger, located in Will County, has a notably high property tax rate compared to the national median of 1.02%. This difference highlights the varying approaches counties take to meet their budgetary needs. The property tax rate in Steger is among the highest in Illinois, demonstrating the significant impact local fiscal policies and property values have on tax obligations. Understanding these differences is crucial for property owners considering appeals or exemptions. By grasping the nuances of property tax rates in your area, you can make informed decisions that may lead to significant tax savings.
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 Steger Tax Rate
3.24%
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 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 Steger, Will County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60475 | 2.48% | 3.06% | 3.24% | 3.42% | 3.79% |
Source: Ownwell
Property Tax Assessment Values Across Steger, Will County, Illinois
When examining property taxes in Steger, Illinois, 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's Office 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 April. 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 Steger. For example, the median home price in Steger is $122,340, with tax bills ranging significantly across the county. ZIP code 60475 has the highest median home price at $122,340.
Property Tax Assessment Values Across Steger, Will County, Illinois
Source: Ownwell
$101,070
$390,154
$679,238
Median Steger Market Value
$122,340
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 Steger, Will County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60475 | $90,542 | $103,852 | $122,340 | $148,954 | $179,110 |
Source: Ownwell
Property Tax Bills Across Steger, Will County, Illinois
In Steger, located in Will County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, and the tax rate is set by local taxing authorities. Homeowners in Steger face a median property tax bill of $3,887, significantly higher than the national median of $2,400. This higher tax bill can be attributed to the local tax rate and the assessed values in the area. For homeowners, this means a significant portion of their budget is allocated to property taxes, which can be a financial burden.
Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing your property's assessed value and comparing it to similar properties, Ownwell can identify opportunities for reducing your tax bill. Their expertise can help you navigate the appeal process, potentially lowering your tax obligations and saving you money. With Ownwell's assistance, homeowners in Steger can alleviate some of the financial pressure from high property taxes.
Median Steger Tax Bill
$3,887
Median Will County Tax Bill
$6,703
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Steger, Will County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60475 | $2,276 | $3,136 | $3,887 | $4,942 | $6,028 |
Source: Ownwell