Brussels, Illinois Property Taxes
The median property tax rate in Brussels, IL is 2.17%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Brussels, the typical annual property tax bill reaches $1,651, which is lower than the national median of $2,690. Property taxes in Brussels 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 Brussels' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Brussels 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
Brussels, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Brussels Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brussels with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brussels 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 Brussels, Illinois
Property taxes in Brussels, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brussels is 2.17%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Brussels set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brussels 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 Brussels's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62013 has the highest median property tax rate of 2.17%, while the same zip code also has the lowest median tax rate of 2.17%. Understanding how these cities compare with Brussels provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brussels Tax Rate
2.17%
Average Calhoun County Tax Rate
2.36%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brussels, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62013 | 1.28% | 1.66% | 2.17% | 2.36% | 2.36% |
Source: Ownwell
Property Tax Assessment Values Across Brussels, Illinois
In Brussels, 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 Calhoun County Appraisal District 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. 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 Brussels helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 62013 has both the highest and lowest median tax bill at $1,651.
Average Brussels Assessed Value
$94,947
Average Calhoun County Assessed Value
$86,121
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brussels, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62013 | $35,430 | $60,002 | $94,947 | $147,401 | $217,245 |
Source: Ownwell
Property Tax Bills Across Brussels, Illinois
In Brussels, located in Calhoun County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value. For instance, with a median home price of $94,947, the assessed value would be a fraction of this amount. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or abatements. Homeowners in Brussels can expect their tax bills to vary significantly. The 25th percentile tax bill is $1,052, while the 75th percentile reaches $2,712, and the 90th percentile goes up to $4,633. Compared to the national median property tax rate of 0.99%, the tax burden in Brussels can be substantial, affecting homeowners' annual budgets and financial planning.
Average Brussels Tax Bill
$1,651
Average Calhoun County Tax Bill
$1,736
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Brussels, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62013 | $637 | $1,052 | $1,651 | $2,712 | $4,633 |
Source: Ownwell