Chicago, Texas Property Taxes
The median property tax rate in Chicago, TX is 1.52%, which is considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Chicago, the typical annual property tax bill reaches $4,758, exceeding the national median of $2,690. Property taxes in Chicago 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 Chicago'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 Chicago 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
Chicago, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.52%
Estimate Property Tax Bill
$4,761
$4,405
$1,148
Average Chicago, Texas Tax Savings
Ownwell’s Chicago Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chicago with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chicago to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Chicago. 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 Chicago, Texas
Property taxes in Chicago, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chicago is 1.52%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Chicago set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chicago 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 Chicago's effective property tax rate to other counties in Texas and the national median. For comparison, the 60613 zip code has the highest median property tax rate of 1.52%, while the same zip code also has the lowest median tax rate of 1.52%. Understanding how these cities compare with Chicago provides valuable insights into the varying tax landscape across Tarrant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chicago Tax Rate
1.52%
Average Tarrant County Tax Rate
1.70%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chicago, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60613 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
Source: Ownwell
$1,148
Average Chicago Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Chicago, Texas
In Chicago, Texas, 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 Tarrant 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 Chicago, 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 Chicago helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,758 in the 60613 zip code, which is also the lowest median tax bill, reflecting a consistent rate across the region.
Average Chicago Assessed Value
$313,206
Average Tarrant County Assessed Value
$306,713
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chicago, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60613 | $313,206 | $313,206 | $313,206 | $313,206 | $313,206 |
Source: Ownwell
$1,148
Average Chicago Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Chicago, Texas
Property tax bills in Chicago, Tarrant County, TX, are calculated based on the assessed value of a property. The local tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $313,206, homeowners can expect a median tax bill of $4,758, which is significantly higher than the national median property tax rate of 0.99%. Factors such as property location, market value, and local tax rates influence the tax bill, potentially leading to substantial financial burdens for homeowners. Ownwell offers valuable assistance to homeowners looking to reduce their property tax bills. By leveraging expert knowledge and comprehensive data analysis, Ownwell ensures that properties are accurately assessed, identifying potential discrepancies and errors. This meticulous approach helps in filing successful property tax appeals, ultimately leading to significant savings. Homeowners can rely on Ownwell's expertise to navigate the complexities of property tax assessments and secure fairer, more manageable tax bills.
Average Chicago Tax Bill
$4,758
Average Tarrant County Tax Bill
$5,114
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Chicago, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60613 | $4,758 | $4,758 | $4,758 | $4,758 | $4,758 |
Source: Ownwell
$1,148
Average Chicago Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 24 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Tarrant Appraisal District | |
| Phone | (817) 284-0024 |
| Website | www.tad.org |
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