60123 Property Tax Rate
Elgin, Illinois · Part of Kane County
Effective Tax Rate
2.48%
71.4% above state avgMedian Annual Tax
$5,999
$500/mo escrow
Estimate Your Tax
Annual Tax
$5,999
Monthly
$500
Eff. Rate
2.48%
Buyer decision brief
What ZIP 60123 means for your housing budget
Use this ZIP page to compare recurring tax burden before you compare listing prices. The numbers below are Census ZCTA estimates, so they are strongest for neighborhood comparison and weakest for parcel-specific tax planning.
Monthly escrow signal
$500/mo
Based on median annual tax paid
State context
0.60 percentage points above the Illinois average
Illinois average: 1.88%
Data confidence
High confidenceThe Census margin of error is $222, about 4% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Kane County assessor.
- Check homestead, senior, veteran, and disability exemptions.
- Ask whether purchase triggers reassessment or value-cap reset.
- Review school district and special assessment boundaries.
Lower-rate similar ZIPs
This is informational content, not tax, legal, or mortgage advice. Local assessor records remain the source of truth for a specific property.
Data confidence ledger
Can you trust ZIP 60123 for comparison?
ACS vintage
2019-2023 ACS 5-Year Estimates
Five-year Census ZCTA estimates.
ZCTA caveat
Census area, not parcel boundary
USPS ZIP routes and taxing districts can differ inside the same area.
Field completeness
3/3 required fields
Median tax, home value, and derived rate are present.
MOE status
Strong ACS confidence
$222 tax MOE, 4% of the median tax estimate.
Last site refresh
March 10, 2026
Dataset and page-quality audit run locally before publication.
County fallback
County advisory available
Kane County is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 60123
Use the ZIP estimate to compare neighborhoods, then verify these parcel-level inputs before relying on a payment estimate.
Assessed value
The ZCTA median home value is $242,200, but your bill starts with the local assessed value for a specific parcel.
Effective rate
The displayed rate is 2.48%, derived from median tax paid divided by median home value.
Exemptions
Homestead, senior, veteran, disability, and local exemptions can reduce taxable value. Confirm eligibility before estimating escrow.
Reassessment
A purchase can change assessed value depending on Illinois and county rules. Ask how sale price affects the next assessment cycle.
Escrow impact
The median tax paid in this ZCTA equals about $500 per month before insurance, HOA dues, or special assessments.
Assessor verification
Kane County assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 60123 Compares
Median Annual Property Tax
ZIP 60123
2.48%
Effective rate
Illinois Avg
1.88%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in Illinois
Higher than 91% of ZIP codes in Illinois(91th percentile, 1,317 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 60123
Property owners in ZIP code 60123 (Elgin, Illinois) pay a median of $5,999/year in property taxes on homes valued at $242,200. This translates to an effective tax rate of 2.48%, which is 32% above the Illinois state average of 1.88%.
The monthly property tax burden for a median-valued home in 60123 is approximately $500, which factors into escrow payments on mortgages. This ZIP code is located within Kane County. This is $2,498 more than the Illinois average of $3,501/year.
Compared to similar ZIP codes in Illinois, 60123 has lower property taxes. ZIP codes with similar effective rates include 62379 (2.48%) and 61072 (2.48%).
In Elgin, property taxes represent approximately 6.9% of the median household income of $86,762, providing context for the relative tax burden on homeowners in this area.
Illinois restricts assessed value increases to 7% yearly; your property will reassess at purchase price when you buy. Kane County's General Homestead Exemption removes $10,000 from your assessed value — submit the application to the Kane County Assessor by the deadline shown on your Supervisor's Notice. Contact the Kane County Assessor within 30 days of purchase to ensure the exemption is filed and your assessment reflects the correct base year.
Frequently Asked Questions
What is the property tax rate in ZIP code 60123?
How much are property taxes in Elgin, IL (60123)?
How does ZIP 60123 compare to the Illinois average?
What is the median home value in ZIP 60123?
What county is ZIP code 60123 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$222. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 60123 is part of Kane County, Illinois. View the full county profile for broader context and more data.
View Kane County on TaxByCounty →Explore Elgin, IL
View all 3 ZIP codes in Elgin with property tax comparisons.
View Elgin Property Tax Rates →Why compare these ZIPs?
Better comparison set for ZIP 60123
Each ZIP highlights a homebuyer tradeoff: lower rate, stronger value context, shared county rules, city boundary changes, or nearby missing data.
60120
Elgin, IL
0.18 percentage points lower than ZIP 60123.
Rate
2.29%
Tax
$5,208
Quality
89
60505
Aurora, IL
0.67 percentage points lower than ZIP 60123.
Rate
1.80%
Tax
$3,473
Quality
101
60175
Saint Charles, IL
0.38 percentage points lower than ZIP 60123.
Rate
2.10%
Tax
$10,001
Quality
84
60144
Kaneville, IL
0.32 percentage points lower than ZIP 60123.
Rate
2.15%
Tax
$6,369
Quality
86
60109
Burlington, IL
0.27 percentage points lower than ZIP 60123.
Rate
2.20%
Tax
$6,702
Quality
84
60174
Saint Charles, IL
0.23 percentage points lower than ZIP 60123.
Rate
2.24%
Tax
$7,809
Quality
96
60110
Carpentersville, IL
0.22 percentage points lower than ZIP 60123.
Rate
2.26%
Tax
$5,069
Quality
89
60511
Big Rock, IL
0.19 percentage points lower than ZIP 60123.
Rate
2.29%
Tax
$6,577
Quality
89
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.