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Thursday, November 21, 2024

Analysis: Elmwood Park pays property taxes nearly two times national average

Elmwood

The home for sale at 1938 N. 73rd Court in Elmwood Park had a property tax bill of $6,215 in 2016. | Zillow.com

The home for sale at 1938 N. 73rd Court in Elmwood Park had a property tax bill of $6,215 in 2016. | Zillow.com

Property owners in Elmwood Park paid nearly 2.2 percent of the value of their homes in taxes last year. That’s nearly two times the national average, according to an LGIS analysis of real estate sales data in the West Suburbs from Jan 1. to June 30.

Local Government Information Service (LGIS) publishes West Cook News. 

Elmwood Park, population 24,626, recorded a median sale price of $255,000, based on data from the 185 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of $5,490, according to county tax data from the Cook County Assessor’s Office.

That’s 2.15 percent of the community’s median home value. In the U.S., the average effective property tax rate is 1.19 percent.

Put another way: a $255,000 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $2,270, or more than $3,200 less per year.

The analysis, including 35 West Suburbs communities, shows homeowners in Maywood, Countryside, River Grove, Oak Park, Stone Park, Northlake, River Forest, Bellwood and Hodgkins pay the highest property taxes in the region, each clocking in with effective rates between 2.75 and 4 percent.

Illinois homeowners pay the second-highest property taxes in the country with an effective median rate of 2.32 percent, just behind those in New Jersey (2.28 percent). 

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Top Property Rates in West Suburbs

The following table ranks West Suburbs communities by their median effective property tax rate, calculated using sales and property tax data from 2018.

CityJan - June 2018 SalesJan - June 2018 Median PriceMedian taxEffective Property Tax Rate
Maywood158$125,000$4,9513.96%
Countryside38$131,000$4,1883.20%
River Grove54$167,500$5,3513.19%
Oak Park473$351,000$10,4922.99%
Stone Park9$163,000$4,6512.85%
Northlake81$169,000$4,7562.81%
River Forest109$470,000$13,1792.80%
Bellwood112$150,500$4,1542.76%
Hodgkins4$209,250$5,7692.76%
Cicero263$165,500$4,3922.65%
Berwyn358$217,250$5,6722.61%
Bedford Park7$210,000$5,4382.59%
Forest Park161$215,000$5,4452.53%
Melrose Park134$192,500$4,8582.52%
Franklin Park105$210,000$5,2192.49%
Berkeley36$187,250$4,5822.45%
Willow Springs64$260,750$6,2432.39%
La Grange173$395,000$9,3932.38%
Lyons72$165,000$3,9312.38%
Hillside49$180,000$4,2512.36%
Brookfield171$242,000$5,6542.34%
Riverside67$410,000$9,5602.33%
Forest View9$205,000$4,7662.32%
Hinsdale32$717,500$15,7652.20%
Schiller Park63$195,000$4,2582.18%
La Grange Park97$350,000$7,5112.15%
Elmwood Park185$255,000$5,4902.15%
Broadview40$179,000$3,8072.13%
Indian Head Park53$218,000$4,4982.06%
Westchester164$239,500$4,9152.05%
Burr Ridge34$481,250$9,4451.96%
North Riverside42$233,000$4,4041.89%
Western Springs120$545,000$10,0341.84%
Harwood Heights62$266,500$4,7571.79%
Norridge101$285,000$4,7821.68%
La Grange Highlands21$360,000$5,7601.60%
Source: BlockShopper.com; Cook County Assessor’s Office

Median Sales Prices in West Suburbs

The following table ranks West Suburbs cities by the year-over-year change in median sale price, which is calculated using prices of properties sold during the first six months of 2018.

CityJan - June 2017 SalesJan - June 2017 Median PriceJan - June 2018 SalesJan - June 2018 Median PriceChange
Hodgkins1$125,0004$209,25067.40%
Bedford Park6$150,0007$210,00040.00%
Stone Park10$119,5009$163,00036.40%
Hillside53$137,50049$180,00030.91%
La Grange Highlands24$292,50021$360,00023.08%
Bellwood138$124,000112$150,50021.37%
Franklin Park137$175,000105$210,00020.00%
Lyons76$137,50072$165,00020.00%
Maywood127$105,000158$125,00019.05%
Broadview69$152,00040$179,00017.76%
Forest View7$175,0009$205,00017.14%
Elmwood Park175$225,000185$255,00013.33%
Melrose Park141$170,000134$192,50013.24%
Cicero316$149,000263$165,50011.07%
Riverside94$373,50067$410,0009.77%
Western Springs105$500,000120$545,0009.00%
Brookfield159$222,500171$242,0008.76%
Norridge100$262,500101$285,0008.57%
Berwyn378$201,250358$217,2507.95%
Berkeley38$177,00036$187,2505.79%
Northlake71$160,00081$169,0005.63%
Hinsdale30$680,00032$717,5005.51%
Oak Park494$337,500473$351,0004.00%
Willow Springs49$254,50064$260,7502.46%
North Riverside50$230,00042$233,0001.30%
Forest Park158$212,750161$215,0001.06%
Westchester171$238,000164$239,5000.63%
Indian Head Park45$220,00053$218,000-0.91%
La Grange Park94$354,25097$350,000-1.20%
Harwood Heights63$270,00062$266,500-1.30%
River Forest123$499,000109$470,000-5.81%
Schiller Park56$208,00063$195,000-6.25%
River Grove65$182,00054$167,500-7.97%
Burr Ridge48$540,00034$481,250-10.88%
La Grange139$460,000173$395,000-14.13%
Countryside41$190,00038$131,000-31.05%
Source: Blockshopper.com; Cook County Recorder

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