New Baden, Illinois Property Taxes
The median property tax rate in New Baden, IL is 2.20%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in New Baden at $157,200, the typical annual property tax bill reaches $3,275, exceeding the national median of $2,690. Property taxes in New Baden 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 New Baden'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 New Baden 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
New Baden, 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 New Baden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Baden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Baden 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 New Baden, Illinois
Property taxes in New Baden, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Baden is 2.20%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within New Baden set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Baden 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 New Baden's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62265 zip code has the highest median property tax rate of 2.20%, while the same zip code also has the lowest median tax rate of 2.20%. Understanding how these cities compare with New Baden provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Baden Tax Rate
2.20%
Average Clinton County Tax Rate
2.02%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Baden, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62265 | 1.59% | 1.92% | 2.20% | 2.36% | 2.55% |
Source: Ownwell
Property Tax Assessment Values Across New Baden, Illinois
In New Baden, 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 Clinton 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. In New Baden, 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 New Baden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 62265 has the highest median tax bill at $3,275, which is a significant consideration for homeowners in the area.
Average New Baden Assessed Value
$157,200
Average Clinton County Assessed Value
$140,970
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Baden, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62265 | $76,614 | $109,352 | $157,200 | $216,861 | $265,350 |
Source: Ownwell
Property Tax Bills Across New Baden, Illinois
In New Baden, located in Clinton County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the market value of the property. The median home price in New Baden is $157,200, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property improvements, neighborhood values, and local tax rates also play a role in determining the final bill. Homeowners in New Baden experience a range of property tax bills. The 25th percentile tax bill is $2,193, while those in the 75th percentile pay around $4,695. The 90th percentile tax bill can go up to $5,724. The highest median tax bill in the area is $3,275. These amounts can significantly impact homeowners, influencing their overall housing affordability. Compared to the national median property tax rate of 0.99%, New Baden's property tax rates reflect the local economic conditions and funding requirements for public services.
Average New Baden Tax Bill
$3,275
Average Clinton County Tax Bill
$2,760
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across New Baden, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62265 | $1,308 | $2,193 | $3,275 | $4,695 | $5,724 |
Source: Ownwell