Dalzell, Illinois Property Taxes
The median property tax rate in Dalzell, IL is 2.85%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Dalzell at $107,781, the typical annual property tax bill reaches $2,815, exceeding the national median of $2,690. Property taxes in Dalzell 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 Dalzell'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 Dalzell or another part of Bureau County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dalzell, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.85%
Estimate Property Tax Bill
$3,072
$3,002
Ownwell’s Dalzell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dalzell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dalzell 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 Dalzell, Illinois
Property taxes in Dalzell, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dalzell is 2.85%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Dalzell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dalzell 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 Dalzell's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61320 zip code has the highest median property tax rate of 2.85%, while the 61320 zip code also has the lowest median tax rate of 2.85%. Understanding how these cities compare with Dalzell provides valuable insights into the varying tax landscape across Bureau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dalzell Tax Rate
2.85%
Average Bureau County Tax Rate
2.33%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dalzell, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61320 | 1.70% | 2.40% | 2.85% | 3.13% | 3.55% |
Source: Ownwell
Property Tax Assessment Values Across Dalzell, Illinois
In Dalzell, 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 Bureau County Assessor 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 Dalzell, 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 Dalzell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Bureau County are both $2,815, located in the 61320 zip code.
Average Dalzell Assessed Value
$107,781
Average Bureau County Assessed Value
$89,799
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dalzell, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61320 | $45,120 | $66,741 | $107,781 | $146,220 | $178,248 |
Source: Ownwell
Property Tax Bills Across Dalzell, Illinois
In Dalzell, located in Bureau County, IL, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the tax bill. For instance, the median home price in Dalzell is $107,781. Homeowners in this area can expect varying tax bills, with the 25th percentile paying around $1,624 and the 75th percentile paying approximately $4,187. The highest median tax bill in the region is $2,815, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any applicable exemptions. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and long-term financial planning. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly.
Average Dalzell Tax Bill
$2,815
Average Bureau County Tax Bill
$2,024
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Dalzell, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61320 | $916 | $1,624 | $2,815 | $4,187 | $5,295 |
Source: Ownwell