Dieterich, Illinois Property Taxes
The median property tax rate in Dieterich, IL is 1.65%, considerably higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With the median home value in Dieterich at $155,790, the typical annual property tax bill reaches $2,284, which is below the national median of $2,690. Property taxes in Dieterich 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 Dieterich'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 Dieterich or another part of Effingham County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dieterich, 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 Dieterich Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dieterich with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dieterich 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 Dieterich, Illinois
Property taxes in Dieterich, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dieterich is 1.65%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Dieterich set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dieterich 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 Dieterich's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62424 has the highest median property tax rate of 1.65%, while the same zip code also has the lowest median tax rate of 1.65%. Understanding how these cities compare with Dieterich provides valuable insights into the varying tax landscape across Effingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dieterich Tax Rate
1.65%
Average Effingham County Tax Rate
1.69%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dieterich, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62424 | 0.67% | 1.25% | 1.65% | 1.83% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Dieterich, Illinois
In Dieterich, 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 Effingham 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 Dieterich, 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 Dieterich helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 62424 has the highest median tax bill of $2,284, reflecting the broader trends within the area.
Average Dieterich Assessed Value
$155,790
Average Effingham County Assessed Value
$155,790
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dieterich, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62424 | $60,930 | $95,580 | $155,790 | $212,700 | $285,810 |
Source: Ownwell
Property Tax Bills Across Dieterich, Illinois
Property tax bills in Dieterich, located in Effingham County, IL, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which in Dieterich is around $155,790. Local taxing authorities then apply a tax rate to this assessed value to determine the annual tax bill. Factors that influence the tax bill include the property's location within specific taxing districts, any applicable exemptions, and the overall budget requirements of local government entities such as schools and public services. For example, the tax bill for homeowners in the 25th percentile is approximately $1,153, while those in the 75th percentile face a tax bill around $3,558. These property taxes directly impact homeowners by contributing to the funding of essential community services. Compared to the national median property tax rate of 0.99%, Dieterich's rates reflect the unique economic and budgetary needs of Effingham County.
Average Dieterich Tax Bill
$2,284
Average Effingham County Tax Bill
$2,476
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Dieterich, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62424 | $413 | $1,153 | $2,284 | $3,558 | $4,611 |
Source: Ownwell