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Craig Smyser CRS, CDPE, e-PRO, GRI Broker Associate 512-735-7200 (direct) 800-440-4714 (toll free) 512-758-7883 (fax)
© 1999-2009 Craig Smyser
RE/MAX Capital City 13018 Research Blvd Austin, TX 78732 512-331-6644
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Property taxes vary quite a bit in this area. There are many taxing authorities, most of which have varying boundaries. It is indeed possible that the taxes rates are different for two homes that lie within the same neighborhood. While it is not feasible to provide a breakdown of all the possible tax rates in the area, I can provide you with a broad look of the property taxes in the area. Clearly, not all of these apply to a given home. However, most of the homes in this area will be covered by some of these taxing bodies. When looking at potential homes to purchase, I can determine the property tax rate before submitting an offer. The property tax rates below are applied to the "assessed value" of a home. The assessed value is determined by taking one third of the market value. Therefore, a $300,000 home will have an assessed value of $100,000. The rates below are then applied to the $100,000 to determine the tax. Whether or not the assessment calculations on a particular home are really based on a current market value varies from case to case. Various exemptions are available (the homestead exemption is most common). For those unfamiliar with the area, property taxes are paid in arrears. The most recent tax year is 2007. The figures for 2008 are starting to become public so they will be filled in as I get them.
The rates quoted above were provided by the County Clerks' offices for DuPage, Kane, Kendall, and Will counties. They are deemed reliable, but I do not guarantee them.
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