Oswego, Will County, Illinois Property Taxes
Median Oswego, IL effective property tax rate: 2.84%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Oswego, IL home value: $391,605
Median annual Oswego, IL tax bill: $10,035, $7,635 higher than the national median property tax bill of $2,400.
How are property taxes in Will County calculated?
Property taxes in Oswego, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Oswego’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oswego, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oswego, Will County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.84%
Estimate Property Tax Bill
$11,122
$10,321
Property Tax Rates Across Oswego, Will County, Illinois
Local government entities determine tax rates, which can differ significantly within a state. This is because each county assesses its annual budget needs for services and divides this by the total assessed value of all taxable property in its area, resulting in the property tax rate. While votes and regulations play a role in setting these rates and budgets, this is the basic process followed each year.
In Oswego, located in Kendall County, Illinois, the effective property tax rate is 2.84%. This rate is notably higher than the national median property tax rate of 1.02%. When compared to the national median property tax bill of $2,400, the property tax burden in Oswego is considerably above average. This comparison highlights the variance in property tax rates and bills across different regions, influenced by local government decisions and budgetary requirements. Understanding these differences is crucial for property owners considering an appeal or seeking exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Oswego Tax Rate
2.84%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Will County Tax Rate
2.62%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Oswego, Will County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60543 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Oswego, Will County, Illinois
When examining property taxes in Oswego, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Will County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Will County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Oswego. For example, the median home price in Oswego is $391,605, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Oswego, Will County, Illinois
Source: Ownwell
$101,070
$390,154
$679,238
Median Oswego Market Value
$391,605
Median Will County Market Value
$251,502
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Oswego, Will County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60543 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Oswego, Will County, Illinois
In Oswego, located in Will County, IL, property tax bills are determined by applying the local tax rate to the assessed value of a property. The assessed value is typically a percentage of the market value, which in Oswego is influenced by factors such as property size, location, and improvements. With a median home price of $391,605, homeowners in Oswego face property tax bills that can be significantly higher than the national median. For instance, the 25th percentile tax bill is $9,401, while the 75th percentile reaches $11,214, both of which are considerably above the national median property tax bill of $2,400.
High property taxes can place a substantial financial burden on homeowners, but Ownwell offers a solution. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills. Our team analyzes individual property assessments to identify discrepancies and opportunities for savings, ensuring that homeowners in Oswego pay only their fair share. This personalized approach can lead to significant savings and financial relief for property owners.
Median Oswego Tax Bill
$10,035
Median Will County Tax Bill
$6,703
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Oswego, Will County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60543 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell