Chicago, IL — income, home value, property tax, and sales tax.
In ZIP code 60461, near Chicago, homes carry a median value of $328,000, and the county-level effective property tax rate of 1.91% translates to roughly $6,265 in annual taxes on such a home. With median household income at $124,417 and per-capita income at $56,835, that tax bill equals about 5% of household earnings. A combined sales tax rate of 9.00% adds to the cost of daily purchases. Even so, income levels here are high enough that property taxes absorb a smaller share of earnings than in many other parts of the region.
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