Chicago, IL — income, home value, property tax, and sales tax.
In ZIP code 60301, near Chicago, homes carry a median value of $247,000, and the county-level property tax rate of 1.91% works out to roughly $4,718 a year for a home at that price. With median household income at $99,167 and per-capita income at $75,642, that tax bill takes up a noticeable share of earnings, though the income base is strong enough to absorb it. Sales tax in the area runs 9.00%, adding to everyday costs. Buyers here weigh a mid-range price point against a rate that climbs with each reassessment.
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