Palatine, IL Property Tax Rates
Compare property tax rates across 2 ZIP codes in Palatine, Illinois.
Avg Tax Rate
2.24%
Avg Annual Tax
$8,305
Avg Home Value
$367,850
ZIP Codes
2
Property Tax Overview: Palatine, IL
Palatine has 2 ZIP codes with property tax data. The average effective tax rate across these ZIPs is 2.24%, which is 19% above the Illinois average of 1.88%. Annual property taxes range from $6,608 (ZIP 60074) to $10,001 (ZIP 60067).
For a home at Palatine's median value of $367,850, property taxes add approximately $687/month to housing costs. Palatine home values are above the Illinois median of $185,194, meaning the monthly tax impact is correspondingly higher.
Property tax rates within Palatine vary by 0.19 percentage points across its ZIP codes. This variation typically reflects different school district boundaries, special assessment zones, and municipal service areas within the city.
Palatine vs Illinois Average
Effective Tax Rate
19% above state average
Annual Property Tax
Median Home Value
Frequently Asked Questions
What is the average property tax rate in Palatine, IL?
The average effective property tax rate in Palatine, Illinois is 2.24%, based on 2 ZIP codes.
How much is property tax in Palatine, IL?
The average median annual property tax in Palatine is $8,305 per year, with a median home value of $367,850.
Which ZIP code in Palatine has the lowest property tax rate?
ZIP code 60074 has the lowest effective tax rate in Palatine at 2.15%, with a median annual tax of $6,608.
How many ZIP codes are in Palatine, IL?
Palatine, Illinois has 2 ZIP codes with property tax data available.
Which ZIP code in Palatine has the highest property tax rate?
ZIP code 60067 has the highest effective tax rate in Palatine at 2.34%, with a median annual tax of $10,001.
How do Palatine property taxes compare to the Illinois average?
Palatine's average effective rate of 2.24% is 19% above the Illinois state average of 1.88%.
What factors affect property tax rates between ZIP codes in Palatine?
Property tax rate differences within Palatine are typically driven by school district boundaries (which can account for 40–60% of a tax bill), special assessment zones for fire, water, or transit services, and whether a ZIP falls within city limits or an unincorporated area. Each taxing jurisdiction sets its own rate, which is why adjacent ZIP codes can have noticeably different effective rates.
Tips for Palatine Homeowners
- •Appeal your assessment: If your home is assessed higher than its market value, you can file a property tax appeal. Studies suggest 30–60% of properties are over-assessed. Most counties offer a free informal review process.
- •Check your exemptions: Homestead exemptions can reduce your taxable value and are available to primary residents in most states. Senior, veteran, and disability exemptions may also apply. Exemptions must typically be applied for — they are not automatic.
- •Know your assessment cycle: Illinois reassesses properties periodically. After buying a home, your next tax bill may reflect a new assessment based on your purchase price. Budget accordingly, especially if you bought above prior assessed values.
- •Compare ZIP codes before buying: Even within Palatine, effective tax rates can vary significantly across ZIP codes due to different school district overlays. Use PropertyTaxByZip to compare specific ZIPs before choosing a neighborhood.
Looking for county-level property tax data? View Cook County on TaxByCounty.com
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.