Taxes in Carol Stream, Illinois
Complete tax guide for Carol Stream, IL. State income tax up to 4.95%, 2% property tax, 6.32% sales tax. Calculate your total tax burden.
State Income Tax
4.95%
Illinois
Property Tax
2%
Effective rate
Sales Tax
6.32%
Combined rate
Tax Burden
Moderate
Carol Stream, IL Tax Overview
Population
40,438
Median Income
$67,600
Cost of Living
93.4 (100 = avg)
State Income Tax
4.95%
Median Home Price
$252,000
Carol Stream Tax Calculator
Pre-filled with Carol Stream median: $67,600
Total Tax Burden in Carol Stream
$15,004
Take-Home: $52,596 · Effective Rate: 22.19%
Federal Tax
$6,486
9.59% eff.
IL State
$3,346
4.95% eff.
FICA
$5,171
7.65% eff.
Take-Home
$52,596
77.81% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $67,600.00 | $5,633.33 |
| Federal Income Tax | -$6,486.00 | -$540.50 |
| Illinois State Tax | -$3,346.20 | -$278.85 |
| Social Security (6.2%) | -$4,191.20 | -$349.27 |
| Medicare (1.45%) | -$980.20 | -$81.68 |
| Take-Home Pay | $52,596.40 | $4,383.03 |
Property Tax in Carol Stream
Median Home
$252,000
Annual Tax
$5,040
Monthly Tax
$420
Effective Rate
2%
Sales Tax in Carol Stream
Combined Rate
6.32%
State Portion
~3.8%
Local Portion
~2.5%
The combined sales tax rate in Carol Stream is 6.32%, which is below the national average of 7.12%. On a $100 purchase, you would pay $6.32 in sales tax.
Tax Burden Comparison
| Tax Type | Carol Stream | Illinois Avg | National Avg |
|---|---|---|---|
| Income Tax | 4.95% | 4.95% | 4.6% |
| Property Tax | 2% | ~2% | 1.1% |
| Sales Tax | 6.32% | ~6.32% | 7.12% |
| Overall Burden | Moderate | — | Moderate |
Tax Saving Tips for Carol Stream Residents
- Illinois's income tax rate of 4.95% is competitive. You may still benefit from maximizing 401(k) contributions ($23,500 limit) to reduce your taxable income at both state and federal levels.
- Property tax in Carol Stream (2%) is above the national average. Check if you qualify for homestead exemptions or assessment appeals to reduce your property tax bill.
- Use a Health Savings Account (HSA) if eligible. Contributions are tax-deductible ($4,300 individual, $8,550 family), growth is tax-free, and withdrawals for medical expenses are tax-free.
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See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in Carol Stream, IL?
Carol Stream, Illinois has a state income tax rate up to 4.95%. The property tax rate is 2% and the combined sales tax rate is 6.32%.
How much is property tax in Carol Stream?
The effective property tax rate in Carol Stream is 2%. On the median home price of $252,000, this equals approximately $5,040 per year or $420 per month. This is above the national average of 1.1%.
What is the sales tax rate in Carol Stream?
The combined sales tax rate in Carol Stream is 6.32%, which includes both state and local components. This is below the national average combined rate of approximately 7.12%.
How does Carol Stream's tax burden compare to other cities?
Carol Stream has a moderate overall tax burden. The effective total tax rate for a median-income household is approximately 29.5%. The combination of 4.95% state income tax, 2% property tax, and 6.32% sales tax determines the total burden. Cost of living index is 93.4 (100 = national average).
Are there any local taxes in Carol Stream?
Carol Stream does not impose a separate local or city income tax. Residents pay the state income tax of 4.95%, federal income tax, and FICA (Social Security and Medicare).