Chicago, IL — income, home value, property tax, and sales tax.
In Chicago's 60649 ZIP code, homes carry a median value of $213,200, and the county-level effective property tax rate of 1.91% translates into a yearly bill of roughly $4,070. With median household income at $44,175, that tax equals about 9% of a household's annual earnings — a heavy share by most standards. Per-capita income sits at $31,997. Adding a combined sales tax of 10.25% further stretches budgets. Together these figures show how property taxes weigh on homeowners here, where earning power trails the cost of carrying a home.
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