60503 Property Tax Rate

Property owners in ZIP code 60503 (Aurora, Illinois) pay a median of $8,690/year in property taxes on homes valued at $311,300. This translates to an effective tax rate of 2.79%, which is 49% above the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 60503 is approximately $724, which factors into escrow payments on mortgages. This ZIP code is located within Will County. This is $5,189 more than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 60503 has higher property taxes. ZIP codes with similar effective rates include 60430 (2.79%) and 61107 (2.80%).

In Aurora, property taxes represent approximately 6.1% of the median household income of $142,773, providing context for the relative tax burden on homeowners in this area.

Illinois caps assessed value growth at 7% annually, though Will County properties reassess to market value at sale. File for Will County's General Homestead Exemption ($10,000 reduction in assessed value) with the Will County Assessor by the deadline stated on your Supervisor's Notice. Submit your exemption application to the Will County Assessor within 30 days of purchase to lock in the reduction on your tax bill.