North Cook News

Property owners in Elk Grove Village paid more than 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 northwest Cook County from Jan 1. to June 30.

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

Elk Grove Village, population 32,931, recorded a median sale price of $240,000, based on data from the 324 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of $5,324, according to county tax data from the Cook County Assessor’s Office.

That’s 2.22 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 $240,000 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $2,136, or nearly $3,200 less per year.

The analysis, including 23 northwest Cook County communities, shows homeowners in Barrington Hills and Bartlett pay the highest property taxes in the county, each clocking in with effective rates higher than 3 percent.

Buffalo Grove, Inverness, Rolling Meadows, South Barrington, Streamwood, Prospect Heights and Elgin all have rates of 2.5 percent or higher.

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's (2.28 percent). 

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Top Property Rates in northwest Cook County

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

City	Jan - June 2018 Sales	Jan - June 2018 Median Price	Median tax	Effective tax rate
Barrington Hills	13	$520,000.00	$19,103	3.67%
Bartlett	166	$228,500.00	$7,063	3.09%
Buffalo Grove	159	$200,000.00	$5,431	2.72%
Inverness	59	$510,000.00	$13,665	2.68%
Rolling Meadows	206	$198,750.00	$5,260	2.65%
South Barrington	28	$650,000.00	$16,682	2.57%
Streamwood	383	$190,000.00	$4,793	2.52%
Prospect Heights	96	$241,250.00	$6,077	2.52%
Elgin	172	$174,500.00	$4,355	2.50%
Hanover Park	121	$200,000.00	$4,932	2.47%
Schaumburg	662	$190,000.00	$4,638	2.44%
Hoffman Estates	399	$250,000.00	$6,077	2.43%
Mount Prospect	367	$285,000.00	$6,768	2.37%
Palatine	681	$255,000.00	$5,802	2.28%
Roselle	33	$228,500.00	$5,187	2.27%
Arlington Heights	662	$320,000.00	$7,192	2.25%
Elk Grove Village	324	$240,000.00	$5,324	2.22%
Wheeling	245	$200,000.00	$4,333	2.17%
Barrington	60	$372,750.00	$7,995	2.14%
Park Ridge	322	$387,500.00	$8,189	2.11%
Des Plaines	557	$215,500.00	$4,483	2.08%
Niles	209	$275,000.00	$5,118	1.86%
Rosemont	16	$364,500.00	$5,696	1.56%

Source: BlockShopper.com; Cook County Assessor’s Office

Median Sales Prices in NW Cook County

The following table ranks NW Cook County 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.

City	Jan - June 2017 Sales	Jan - June 2017 Median Price	Jan - June 2018 Sales	Jan - June 2018 Median Price	Change
Palatine	685	$225,000	681	$255,000	13.33%
Wheeling	268	$176,750	245	$200,000	13.15%
Roselle	34	$204,500	33	$228,500	11.74%
Rosemont	10	$334,500	16	$364,500	8.97%
Hanover Park	148	$183,750	121	$200,000	8.84%
Des Plaines	599	$200,000	557	$215,500	7.75%
Elgin	208	$162,500	172	$174,500	7.38%
Arlington Heights	721	$300,000	662	$320,000	6.67%
South Barrington	37	$615,000	28	$650,000	5.69%
Streamwood	384	$183,000	383	$190,000	3.83%
Niles	213	$268,000	209	$275,000	2.61%
Hoffman Estates	374	$244,000	399	$250,000	2.46%
Elk Grove Village	243	$238,000	324	$240,000	0.84%
Schaumburg	709	$190,000	662	$190,000	0.00%
Mount Prospect	374	$285,000	367	$285,000	0.00%
Bartlett	152	$232,750	166	$228,500	-1.83%
Rolling Meadows	191	$205,000	206	$198,750	-3.05%
Park Ridge	333	$400,000	322	$387,500	-3.13%
Prospect Heights	107	$250,000	96	$241,250	-3.50%
Buffalo Grove	169	$211,000	159	$200,000	-5.21%
Barrington	74	$417,500	60	$372,750	-10.72%
Inverness	64	$578,000	59	$510,000	-11.76%
Barrington Hills	12	$727,500	13	$520,000	-28.52%

Sources: Blockshopper.com; Cook County Recorder of Deeds