Burbank, Illinois Property Taxes
Real Estate Values and Property Tax Valuation in Burbank, Illinois
Burbank has 8,834 properties with a cumulative value of $1.5B, representing 0.47% of all real estate value in Cook County. Property taxes in Burbank totaled $42.0M, with an average homeowner paying $4,786 in property taxes compared to the county average of $5,866. The average property tax rate in Burbank is 2.73%, while the county average is 2.38%. Property taxes are based on the assessed value of the property, which is typically lower than the market value.
In Illinois, property taxes are based on the value of the property as of January 1st. Property owners have the option to appeal their property taxes between June and December, or within 30 days of when the notices are published. Property tax bills are issued on February 1st and July 1st, with the first installment due on June 1st in Cook County. This first installment is estimated at 55% of the prior year's tax bill, with taxes paid in arrears.
Updated November 01, 2023
Important Links | |
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Cook Assessor | (312) 443-7550 |
Cook Assessor | (218) 387-3650 |
Cook Clerk of Court | (229) 896-7717 |
Cook Recorder of Deeds | (312) 603-5050 |
Important Dates | |
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Property Valuation Date: | January 1st |
Property Tax Appeal Deadline: | June - December or 30 days after notices are published |
Property Tax Bills Issued: | February 1st and July 1st |
Real Property Tax Bill Due (1st of #): | June, Two installments but due dates may vary by county March 1st, Cook County - 1st half installment, estimated at 55% of prior year tax bill with taxes paid in arrears. |
Real Property Tax Bill Due (2nd of #): | September, Two installments but due dates may vary by county August 1, Cook County - 2nd half installment - TARGETED but may be delayed - due 30 days after being issued. Reconciled installment using the BOR certified AV, actual local tax rate, and final state equalization factor, less the estimated 1st installment with taxes paid in arrears |
Available Exemptions | |
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Senior | Available |
Disabled | Available |
Homestead | Available |
Veteran | Available |
Solar/Wind | Available |
Charitable | Available |
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Real Estate Statistics in Burbank, Illinois
Residential Property Tax by ZIP code in Burbank, Illinois
Burbank property taxes are collected at an average rate of 2.73%, which is slightly higher than the average rate of 2.38% for Cook County. This rate can vary across ZIP codes, as the effective property tax rate in the 60459 ZIP code is 2.73%, while other ZIP codes may have lower or higher rates. This is due to the fact that home values can vary significantly across ZIP codes, and property taxes are based on the value of the home.
Overall, Burbank property taxes are slightly higher than the average for Cook County, but the rates can vary significantly across ZIP codes. This is because the value of homes can vary significantly across ZIP codes, and property taxes are based on the value of the home. Therefore, it is important to research the effective property tax rate in the ZIP code where you are considering buying a home, as this can have a significant impact on your total property tax bill.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each ZIP code in Burbank, Illinois. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
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60459 | $88,980 | $146,480 | $172,400 | $197,768 | $246,716 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each ZIP code in Burbank, Illinois.
ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
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60459 | $1,877 | $3,130 | $4,813 | $5,969 | $7,476 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
60459 | 2.11% | 2.14% | 2.79% | 3.02% | 3.03% |
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Real Estate Values in Burbank, Illinois
Average Home Value in Burbank, Illinois
Last updated: November 2023
We currently do not have this data but we are working to add this soon.
We currently do not have this data but we are working to add this soon.
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Housing Expenses in Burbank, Illinois
Housing expenses are a major part of the average household budget in the state. In fact, housing expenses account for nearly one-third of total expenses for the average household. As inflation continues, housing expenses continue to rise, eating up an ever-increasing portion of the household budget. Property taxes are the second largest component of housing expenses for the average property owner in the state, making up a significant portion of the total housing expenses. As housing expenses continue to rise, it is important for households to budget carefully and plan for the future to ensure they can afford their housing expenses.
Monthly Consumer Expenses for Midwest region
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