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Elgin Illinois Form 944 (PR): What You Should Know

Elgin is a small city located about 20 miles northwest of Chicago. Elgin's residents have a strong  support for the city's local government. Elgin has a population estimated at approximately 2,600; of which approximately 1,600  are residents of housing units subsidized by the county. Elgin's economy is primarily driven by the manufacturing and  processing industries. Elgin County provides services to a portion of Elgin County with about 4,100 municipal workers serving approximately 50,000  population. Elgin County is home to three universities (Illinois State and Northern Illinois University both offer degrees in business  management), the Elgin Housing Authority and the Elgin Park and Recreation District.  Elgin's residents pay an annual property tax of about 17 per 100,000 of assessed value, which is slightly higher than the  average assessed value of 16.7. Elgin was ranked 12th out of 13 Illinois counties for tax collection. The average property tax assessor's value was 153,000. The average assessed value in Cook County was over 200,000. The average assessed value of a home in Elgin was over 250,000. In the Elgin area, the average residential property tax paid by homeowners was about 4,500. The average Elgin home was assessed at 249,000. Elgin's residents were responsible for paying 1.7 billion in property taxes. That is about 300,000 per Elgin home. Most of the residents of Elgin are single and have been for four of the last five years. The median age of Elgin County residents in 2023 was  37.5. Males were significantly overrepresented, with an average household size of 4.8. Elgin County had a female population of 20.1%. There were 21.5% of residents from other Northern Illinois counties. Elgin County ranked fourth as the county with the highest percentage of residents who indicated that they are Hispanic. Cook (18%), DuPage County (17%), Kane (16%) and Will (15%) were the top five counties in Illinois. About the Elgin, IL Property Tax Rate The average homeowners' insurance monthly premium for an Elgin home is about 9,000. The average homeowner in Elgin paid about 8,000 in property taxes and about 300 a year.

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