Prospect Heights, Cook County, Illinois Property Taxes
Property Taxes in Prospect Heights, Illinois
Median Prospect Heights, Illinois effective property tax rate: 2.72%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Prospect Heights, Illinois home value: $226,420
Median annual Prospect Heights, Illinois tax bill: $5,615, $3,215 higher than the national median property tax bill of $2,400.
How are property taxes in Cook calculated?
Property taxes in Prospect Heights, 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 Prospect Heights's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Prospect Heights, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Prospect Heights, Cook County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.72%
Estimate Property Tax Bill
$6,159
$5,715
$774
Average Annual Tax Savings
How Does the Prospect Heights Property Tax Calculator Work?
Use this Prospect Heights property tax calculator to estimate your annual tax bill. Enter your property's assessed value and our calculator applies Prospect Heights' median effective tax rate of 2.72% — based on actual property records in Cook County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessor uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Prospect Heights' 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 Prospect Heights: rates are 2.72% in 60070, primarily due to differences in school district levies and local assessment districts. Prospect Heights has a median property tax bill of $5,615, compared with the Illinois median tax bill of $2,400 and the national median property tax rate of 1.02%.
If your estimate is higher than expected, Ownwell can appeal your Prospect Heights assessment — you only pay if we save you money.
About Prospect Heights Property Taxes
About Property Taxes in Prospect Heights, Cook, Illinois
Prospect Heights' median effective property tax rate of 2.72% 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 that vary by subdivision throughout the city.
Property tax rates are not uniform across Prospect Heights. Homeowners in the 60070 ZIP code carry a median effective rate of 2.72%, while those in the lowest ZIP also pay 2.72%. This reflects how school district boundaries and local assessment districts are drawn across Cook County. Understanding which part of Prospect Heights you live in can make a meaningful difference to your annual tax bill.
Prospect Heights homeowners who believe their assessed value is too high can file a formal appeal with the 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 Prospect Heights, 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 Prospect Heights's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
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 Prospect Heights Tax Rate
2.72%
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 Prospect Heights, Cook County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60070 | 2.18% | 2.52% | 2.72% | 3.19% | 3.46% |
Source: Ownwell
$774
Average Annual Tax Savings
Save on Your Property Taxes and More With Ownwell
Property Tax Assessment Values Across Prospect Heights, Cook County, Illinois
When examining property taxes in Prospect Heights, 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 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 Prospect Heights.
For example, the median home price in Prospect Heights is $226,420, with tax bills ranging significantly across the county. 60070 has the highest median home price at $226,420.
Property Tax Assessment Values Across Prospect Heights, Cook County, Illinois
Source: Ownwell
$28,470
$625,355
$1,222,240
Median Prospect Heights Market Value
$226,420
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 Prospect Heights, Cook County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60070 | $99,906 | $127,020 | $226,420 | $356,160 | $494,670 |
Source: Ownwell
$774
Average Annual Tax Savings
Save on Your Property Taxes and More With Ownwell
Property Tax Bills Across Prospect Heights, Cook County, Illinois
Property tax bills in Prospect Heights are based on the assessed value of a home, not its market price alone. Local taxing authorities apply their tax rates to that assessed value, and the final bill can also reflect exemptions and other local factors. For many homeowners, that means a higher assessed value can lead to a higher property tax bill, even when the market has not changed much.
In Prospect Heights, the median home price is $226,420, and the median property tax bill is $5,615. That is well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. Bills in the area can vary widely, with the 25th percentile at $3,572 and the 75th percentile at $9,823.
Ownwell helps homeowners review their assessed value, identify savings opportunities, and file property tax appeals and exemptions that may lower their bills.
Median Prospect Heights Tax Bill
$5,615
Median Cook County Tax Bill
$5,588
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Prospect Heights, Cook County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60070 | $2,488 | $3,572 | $5,615 | $9,823 | $14,213 |
Source: Ownwell
$774
Average Annual Tax Savings
Save on Your Property Taxes and More With Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Tax Bill | |
| Issued | February 1 |
| Due Date #1 | March 1 |
| Due Date #2 | August 1 |
Links | |
|---|---|
| Cook Assessor’s Office | |
| Phone | (312) 443-7550 |
| Website | assessorpropertydetails.cookcountyil.gov |