Fowler, Illinois Property Taxes
The median property tax rate in Fowler, IL is 2.06%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Fowler, the typical annual property tax bill reaches $1,542, exceeding the national median of $2,690. Property taxes in Fowler are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fowler's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fowler or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fowler, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.06%
Estimate Property Tax Bill
$2,041
$1,995
Ownwell’s Fowler Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fowler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fowler to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fowler, Illinois
Property taxes in Fowler, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fowler is 2.06%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Fowler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fowler estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Fowler's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62338 has the highest median property tax rate of 2.06%, while the same zip code also has the lowest median tax rate of 2.06%. Understanding how these cities compare with Fowler provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fowler Tax Rate
2.06%
Average Adams County Tax Rate
2.23%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fowler, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62338 | 1.21% | 1.82% | 2.06% | 2.06% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Fowler, Illinois
In Fowler, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Adams County Assessment Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Fowler, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Fowler helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 62338 has the highest and lowest median tax bill at $1,542.
Average Fowler Assessed Value
$99,090
Average Adams County Assessed Value
$88,290
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fowler, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62338 | $65,490 | $70,815 | $99,090 | $126,488 | $149,685 |
Source: Ownwell
Property Tax Bills Across Fowler, Illinois
In Fowler, located in Adams County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. The median home price in Fowler is $99,090, and homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Several factors influence the final tax bill, including the property's location within the county, any applicable exemptions, and the specific tax rates set by local taxing authorities. For example, the 25th percentile tax bill in Fowler is $1,337, while the 75th percentile tax bill is $1,932. At the 90th percentile, homeowners might see tax bills as high as $2,753. These tax bills are essential for funding local services such as schools, public safety, and infrastructure, directly impacting the overall community and homeowners' financial planning.
Average Fowler Tax Bill
$1,542
Average Adams County Tax Bill
$1,937
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Fowler, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62338 | $1,101 | $1,337 | $1,542 | $1,932 | $2,753 |
Source: Ownwell