Chicago City Wire

Chicago City Wire

Monday, February 17, 2020

Analysis: Humboldt Park pays property taxes 0.92 times national average

Real Estate

By LGIS Newsfeed | Nov 9, 2018

Humboldt
The house located at 2458 W. Thomas St. in Humboldt, currently offered for $299.9K, had a 2016 property tax bill of $4,187. | zillow.com

Property owners in Humboldt Park paid nearly 1.1 percent of the value of their homes in taxes last year. That’s more than 0.92 times the national average, according to an LGIS analysis of real estate sales data in Chicago’s West Side from Jan 1. to June 30.

Local Government Information Service (LGIS) publishes Chicago City Wire.

Humboldt Park, population 55,011, recorded a median sale price of $322,500 based on data from the 331 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of $3,543, according to county tax data from the Cook County Assessor’s Office.

That’s 1.1 percent of the community’s median home value. In the U.S., the average effective property tax rate is 1.19 percent.

Put another way: a $322,500 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $2,870, or nearly $673 less per year.

The analysis, including 22 Chicago West Side communities, shows homeowners in West Garfield Park, Lawndale, Tri-Taylor, East Garfield Park, and Austin pay the highest property taxes in the region, each clocking in with effective rates of 1.99 to 4.22 percent.

Illinois homeowners pay the second-highest property taxes in the country with an effective median rate of 2.32 percent, just behind those in New Jersey (2.28 percent).

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Top Property Rates in Chicago’s West Side

The following table ranks Chicago’s West Side communities by their median effective property tax rate, calculated using sales and property tax data from 2018.

NeighborhoodJan - June 2018 SalesJan - June 2018 Median PriceMedian taxEffective Tax Rate
West Garfield Park91$78,000$3,2944.22%
Lawndale250$125,000$3,2212.58%
Tri-Taylor23$265,000$6,2432.36%
East Garfield Park132$140,000$3,2452.32%
Austin 419$135,000$2,6811.99%
Little Village152$141,000$2,7741.97%
Wicker Park134$527,750$10,1011.91%
Hermosa 130$252,500$4,2231.67%
Bucktown299$555,000$9,0881.64%
Galewood78$265,000$4,2431.60%
Ukrainian Village 205$570,000$9,0571.59%
University Village / Little Italy105$320,000$5,0501.58%
Noble Square100$500,000$7,7061.54%
Heart of Chicago33$300,000$4,4281.48%
West Town242$489,500$6,8171.39%
Pilsen73$350,000$4,5941.31%
Logan Square542$423,750$5,4381.28%
West Loop101$361,000$4,5391.26%
Near West Side224$380,000$4,7121.24%
River West86$449,000$5,3661.20%
Humboldt Park 331$322,500$3,5431.10%
Greektown16$427,500$6070.14%

Source: BlockShopper.com; Cook County Assessor’s Office

Median Sales Prices in Chicago’s West Side

The following table ranks Chicago’s West Side cities by the year-over-year change in median sale price, which is calculated using prices of properties sold during the first six months of 2018.

NeighborhoodJan - June 2017 SalesJan - June 2017 Median PriceJan - June 2018 SalesJan - June 2018 Median PriceChange
West Garfield Park69$47,00091$78,00065.96%
East Garfield Park107$91,500132$140,00053.01%
Lawndale216$90,000250$125,00038.89%
Heart of Chicago49$235,00033$300,00027.66%
Austin 359$109,000419$135,00023.85%
Humboldt Park 325$267,500331$322,50020.56%
Galewood82$220,00078$265,00020.45%
Greektown26$370,50016$427,50015.38%
West Loop107$330,000101$361,0009.39%
Bucktown311$510,000299$555,0008.82%
Logan Square631$389,500542$423,7508.79%
Tri-Taylor16$243,75023$265,0008.72%
Little Village141$130,000152$141,0008.46%
Ukrainian Village 195$526,000205$570,0008.37%
West Town277$465,000242$489,5005.27%
Hermosa 117$245,000130$252,5003.06%
Pilsen77$342,50073$350,0002.19%
River West89$442,00086$449,0001.58%
Near West Side239$376,000224$380,0001.06%
Noble Square113$510,000100$500,000-1.96%
University Village / Little Italy107$327,500105$320,000-2.29%
Wicker Park166$575,000134$527,750-8.22%

Sources: Blockshopper.com; Cook County Recorder of Deeds

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