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Phoenix, Cook County, Illinois Property Taxes

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Property Taxes in Phoenix, Illinois

  • Median Phoenix, Illinois effective property tax rate: 6.66%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.

  • Median Phoenix, Illinois home value: $48,000

  • Median annual Phoenix, Illinois tax bill: $3,356, $956 higher than the national median property tax bill of $2,400.

How are property taxes in Cook calculated?

Property taxes in Phoenix, Illinois 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 Phoenix's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Phoenix, knowing local tax details benefits homeowners and investors.

Last Updated April 13, 2026

Phoenix, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

6.66%

Estimate Property Tax Bill

$3,197

$2,967

SAVE WITH OWNWELL

$774

Average Annual Tax Savings

How Does the Phoenix Property Tax Calculator Work?

Use this Phoenix property tax calculator to estimate your annual tax bill. Enter your property's assessed value and our calculator applies Phoenix's median effective tax rate of 6.66% — based on actual property records in Cook County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Phoenix's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.

Your bill may vary by ZIP code within Phoenix: rates range from 6.66% in 60426 to 6.66% in 60426, primarily due to differences in school district levies and local assessment districts.

Phoenix's median property tax bill is $3,356, which is higher than the Illinois median of 2.33% and $2,400 nationally. It is also higher than the county and $956 higher than the state tax bill. If your estimate is higher than expected, Ownwell can appeal your Phoenix assessment — you only pay if we save you money.

About Phoenix Property Taxes

About Property Taxes in Phoenix, Cook, Illinois

Phoenix’s median effective property tax rate of 6.66% is higher than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Cook County base levy combined with local school district levies and Special service areas (SSAs) that vary by subdivision throughout the city.

Property tax rates are not uniform across Phoenix. Homeowners in the 60426 ZIP code carry a median effective rate of 6.66%, while those in 60426 pay 6.66%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Cook County. Understanding which part of Phoenix you live in can make a meaningful difference to your annual tax bill.

Phoenix homeowners who believe their assessed value is too high can file a formal appeal with the Cook Assessor’s Office before the deadline each year.

If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.

Property Tax Rates Across Phoenix, Cook County, Illinois

As noted earlier, local government entities set tax rates, which can vary widely within a state.

Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.

While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Below, you can compare Phoenix's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Phoenix, Cook County, Illinois

Source: Ownwell

1.11%

5.02%

8.93%

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 Phoenix Tax Rate

6.66%

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 Cook County Tax Rate

2.14%

Median Effective Illinois Tax Rate

2.33%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Phoenix, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
604262.04%3.49%6.66%8.29%8.29%

Source: Ownwell

Property Tax Assessment Values Across Phoenix, Cook County, Illinois

When examining property taxes in Phoenix, Illinois, 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 Cook County assessor 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.

Assessment notices:

In Cook County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month.

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 Phoenix.

For example, the median home price in Phoenix is $48,000, with tax bills ranging significantly across the county. 60426 has the highest median home price at $48,000.

Property Tax Assessment Values Across Phoenix, Cook County, Illinois

Source: Ownwell

$28,470

$625,355

$1,222,240

Median Phoenix Market Value

$48,000

Median Cook County Market Value

$248,820

Median Illinois Market Value

$227,888

Median United States Market Value

$235,294

Property Tax Assessment Values Across Phoenix, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60426$30,647$42,382$48,000$69,010$129,923

Source: Ownwell

Property Tax Bills Across Phoenix, Cook County, Illinois

Property tax bills in Phoenix are based on the assessed value of a home, not its market price alone. Local tax rates are applied to that assessed value, and the final bill can also reflect exemptions and other local factors. In Cook County, the median home price is $48,000, and property tax bills vary widely, with the 25th percentile at $1,340, the 75th percentile at $4,438, and the 90th percentile at $8,855. The median tax bill in zip code 60426 is $3,356.

For homeowners, that means a higher assessed value can lead to a larger property tax bill, even when the home’s market value has not changed much. Compared with the national median property tax rate of 1.02% and the national median property tax bill of $2,400, many Cook County homeowners may be paying more than expected.

Ownwell helps homeowners lower property tax bills by reviewing assessments, identifying savings opportunities, and filing appeals when a home is overassessed.

Property Tax Bills Across Phoenix, Cook County, Illinois

Source: Ownwell

$634

$15,281

$29,928

Median Phoenix Tax Bill

$3,356

Median Cook County Tax Bill

$5,588

Median Illinois Tax Bill

$5,277

Median United States Tax Bill

$2,400

Property Tax Bills Across Phoenix, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60426$898$1,340$3,356$4,438$8,855

Source: Ownwell

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Frequently Asked Property Tax Questions in Phoenix, Illinois

How are property taxes calculated in Phoenix, Illinois?
Property taxes in Phoenix, Illinois are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.
How do I appeal my property taxes in Phoenix, Illinois?
To appeal your property taxes in Phoenix, Illinois, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.
What property tax exemptions are available in Phoenix, Illinois?
Common property tax exemptions in Phoenix, Illinois include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.
When are property taxes due in Phoenix, Illinois?
Property tax deadlines in Phoenix, Illinois vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.
How can Ownwell help reduce my property taxes in Phoenix, Illinois?
Ownwell provides professional property tax appeal services in Phoenix, Illinois. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.