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Saturday, November 2, 2024

Analysis: Richton Park pays property taxes three times national average

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The home for sale at 4209 Andover Dr. in Richton Park had a property tax bill of $3,547 in 2016. | Zillow.com

The home for sale at 4209 Andover Dr. in Richton Park had a property tax bill of $3,547 in 2016. | Zillow.com

Property owners in Richton Park paid nearly 3.7 percent of the value of their homes in taxes last year. That’s more than three times the national average, according to an LGIS analysis of real estate sales data in the South Suburbs from Jan 1. to June 30.

Local Government Information Service (LGIS) publishes South Cook News. 

Richton Park, population 13,505, recorded a median sale price of $124,500, based on data from the 102 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of $4,574, according to county tax data from the Cook County Assessor’s Office.

That’s 3.67 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 $124,500 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $1,108, or nearly $3,500 less per year.

The analysis, including 51 South Suburbs communities, shows homeowners in Park Forest, Harvey, Sauk Village, Markham, Dolton and East Hazel Crest pay the highest property taxes in the region, each clocking in with effective rates between 6 and 8.5 percent.

Fifteen South Suburbs communities recorded property tax rates of 3 to 4 percent, while an additional 14 pay between 4 and 8.5 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 South Suburbs

The following table ranks South Suburbs communities by their median effective property tax rate, calculated using sales and property tax data from 2018.

CityJan - June 2018 SalesJan - June 2018 Median PriceMedian taxEffective Property Tax Rate
Riverdale65$32,000$2,8718.97%
Park Forest151$59,000$4,9388.37%
Harvey76$31,250$2,4197.74%
Sauk Village77$37,000$2,5236.82%
Markham69$45,000$3,0346.74%
Dolton205$60,000$3,6486.08%
East Hazel Crest12$62,000$3,7246.01%
Burnham20$60,500$2,9644.90%
Calumet City256$72,000$3,4784.83%
Calumet Park55$74,000$3,4224.62%
Country Club Hills179$109,500$4,9754.54%
Olympia Fields40$179,750$8,0614.48%
Hazel Crest108$83,500$3,6424.36%
Flossmoor92$208,250$8,4924.08%
Chicago Heights166$82,000$3,3354.07%
Thornton26$87,000$3,4003.91%
Matteson150$143,500$5,5603.87%
Glenwood70$107,750$4,1653.87%
Richton Park102$124,500$4,5743.67%
South Chicago Heights29$74,000$2,6863.63%
Summit43$155,000$5,5423.58%
Homewood187$138,500$4,7413.42%
South Holland231$139,000$4,6483.34%
Lansing266$115,000$3,8223.32%
Alsip116$144,750$4,6313.20%
Midlothian138$133,250$4,2313.18%
Blue Island101$107,000$3,3503.13%
Oak Forest245$180,000$5,6323.13%
Tinley Park556$190,000$5,8693.09%
Lynwood49$162,000$4,9093.03%
Bridgeview63$178,000$4,9252.77%
Ford Heights7$26,500$7142.69%
Chicago Ridge91$118,000$3,1472.67%
Orland Hills48$190,000$5,0482.66%
Hometown47$115,000$3,0162.62%
Worth98$169,500$4,4402.62%
Justice60$176,000$4,5552.59%
Dixmoor7$49,000$1,2692.59%
Hickory Hills106$217,250$5,5372.55%
Evergreen Park178$180,250$4,5302.51%
Stickney46$173,750$4,2842.47%
Oak Lawn535$174,500$4,2052.41%
Posen36$107,500$2,5872.41%
Burbank161$185,000$4,3822.37%
Orland Park559$247,000$5,8382.36%
Palos Heights121$270,000$6,2552.32%
Robbins12$50,250$1,1642.32%
Palos Park85$325,000$7,1782.21%
Merrionette Park13$130,000$2,7922.15%
Lemont137$315,000$6,7192.13%
Crestwood122$114,000$2,4312.13%
Palos Hills162$160,000$3,3012.06%
Steger27$90,000$1,6621.85%
Source: BlockShopper.com; Cook County Assessor’s Office

Median Sales Prices in South Suburbs

The following table ranks South Suburbs 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.

CityJan - June 2017 SalesJan - June 2017 Median PriceJan - June 2018 SalesJan - June 2018 Median PriceChange
Ford Heights3$2,5007$26,500960.00%
Robbins16$25,00012$50,250101.00%
Worth78$102,00098$169,50066.18%
Harvey61$21,50076$31,25045.35%
Park Forest134$40,750151$59,00044.79%
Lansing310$81,000266$115,00041.98%
Chicago Heights138$60,000166$82,00036.67%
Dixmoor8$36,2507$49,00035.17%
Richton Park102$92,500102$124,50034.59%
East Hazel Crest9$47,00012$62,00031.91%
Posen32$81,50036$107,50031.90%
Chicago Ridge89$92,00091$118,00028.26%
South Holland235$109,000231$139,00027.52%
Lynwood56$132,00049$162,00022.73%
Glenwood100$89,00070$107,75021.07%
Hometown37$95,00047$115,00021.05%
Crestwood116$95,000122$114,00020.00%
Dolton208$51,000205$60,00017.65%
Calumet Park30$63,75055$74,00016.08%
Country Club Hills143$96,000179$109,50014.06%
Justice50$154,75060$176,00013.73%
Calumet City260$64,000256$72,00012.50%
Matteson196$128,000150$143,50012.11%
Summit63$138,50043$155,00011.91%
Palos Heights111$243,000121$270,00011.11%
Palos Park70$295,50085$325,0009.98%
Hazel Crest133$76,000108$83,5009.87%
Bridgeview84$162,75063$178,0009.37%
Evergreen Park168$165,000178$180,2509.24%
Steger28$82,75027$90,0008.76%
Stickney46$161,50046$173,7507.59%
Alsip143$135,000116$144,7507.22%
Oak Forest224$168,500245$180,0006.82%
Oak Lawn540$165,000535$174,5005.76%
Tinley Park494$180,000556$190,0005.56%
Hickory Hills77$206,000106$217,2505.46%
Burbank181$177,500161$185,0004.23%
Merrionette Park14$125,50013$130,0003.59%
Thornton15$85,00026$87,0002.35%
Palos Hills130$156,500162$160,0002.24%
Blue Island105$105,000101$107,0001.90%
South Chicago Heights40$73,00029$74,0001.37%
Midlothian114$132,750138$133,2500.38%
Sauk Village81$37,00077$37,0000.00%
Orland Park527$249,000559$247,000-0.80%
Flossmoor123$210,00092$208,250-0.83%
Lemont113$320,000137$315,000-1.56%
Homewood189$143,000187$138,500-3.15%
Riverdale41$33,50065$32,000-4.48%
Orland Hills48$199,50048$190,000-4.76%
Olympia Fields41$190,00040$179,750-5.39%
Burnham26$66,50020$60,500-9.02%
Markham82$55,00069$45,000-18.18%
Sources: Blockshopper.com; Cook County Recorder of Deeds

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