Taxes in Elgin, Illinois
Complete tax guide for Elgin, IL. State income tax up to 4.95%, 2.2% property tax, 8% sales tax. Calculate your total tax burden.
State Income Tax
4.95%
Illinois
Property Tax
2.2%
Effective rate
Sales Tax
8%
Combined rate
Tax Burden
High
Elgin, IL Tax Overview
Population
114,797
Median Income
$72,108
Cost of Living
96.4 (100 = avg)
State Income Tax
4.95%
Median Home Price
$245,000
Elgin Tax Calculator
Pre-filled with Elgin median: $72,108
Total Tax Burden in Elgin
$16,563
Take-Home: $55,545 · Effective Rate: 22.97%
Federal Tax
$7,478
10.37% eff.
IL State
$3,569
4.95% eff.
FICA
$5,516
7.65% eff.
Take-Home
$55,545
77.03% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $72,108.00 | $6,009.00 |
| Federal Income Tax | -$7,477.76 | -$623.15 |
| Illinois State Tax | -$3,569.35 | -$297.45 |
| Social Security (6.2%) | -$4,470.70 | -$372.56 |
| Medicare (1.45%) | -$1,045.57 | -$87.13 |
| Take-Home Pay | $55,544.63 | $4,628.72 |
Property Tax in Elgin
Median Home
$245,000
Annual Tax
$5,390
Monthly Tax
$449
Effective Rate
2.2%
Sales Tax in Elgin
Combined Rate
8%
State Portion
~5.5%
Local Portion
~2.5%
The combined sales tax rate in Elgin is 8%, which is above the national average of 7.12%. On a $100 purchase, you would pay $8.00 in sales tax.
Tax Burden Comparison
| Tax Type | Elgin | Illinois Avg | National Avg |
|---|---|---|---|
| Income Tax | 4.95% | 4.95% | 4.6% |
| Property Tax | 2.2% | ~2.2% | 1.1% |
| Sales Tax | 8% | ~8% | 7.12% |
| Overall Burden | High | — | Moderate |
Tax Saving Tips for Elgin 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 Elgin (2.2%) 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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HighCalculate Your Full Illinois Tax Burden
See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in Elgin, IL?
Elgin, Illinois has a state income tax rate up to 4.95%. The property tax rate is 2.2% and the combined sales tax rate is 8%.
How much is property tax in Elgin?
The effective property tax rate in Elgin is 2.2%. On the median home price of $245,000, this equals approximately $5,390 per year or $449 per month. This is above the national average of 1.1%.
What is the sales tax rate in Elgin?
The combined sales tax rate in Elgin is 8%, which includes both state and local components. This is above the national average combined rate of approximately 7.12%.
How does Elgin's tax burden compare to other cities?
Elgin has a high overall tax burden. The effective total tax rate for a median-income household is approximately 32.2%. The combination of 4.95% state income tax, 2.2% property tax, and 8% sales tax determines the total burden. Cost of living index is 96.4 (100 = national average).
Are there any local taxes in Elgin?
Elgin 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).