Fillmore, Illinois Property Taxes
The median property tax rate in Fillmore, IL is 2.12%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Fillmore, the typical annual property tax bill reaches $804, which is significantly lower than the national median of $2,690. Property taxes in Fillmore 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 Fillmore'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 Fillmore 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
Fillmore, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.12%
Estimate Property Tax Bill
$949
$927
Ownwell’s Fillmore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fillmore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fillmore 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 Fillmore, Illinois
Property taxes in Fillmore, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fillmore is 2.12%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Fillmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fillmore 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 Fillmore's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62032 has the highest median property tax rate of 2.12%, while the same zip code also has the lowest median tax rate of 2.12%. Understanding how these cities compare with Fillmore provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fillmore Tax Rate
2.12%
Average Fayette County Tax Rate
2.13%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fillmore, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62032 | 1.44% | 1.89% | 2.12% | 2.24% | 2.26% |
Source: Ownwell
Property Tax Assessment Values Across Fillmore, Illinois
In Fillmore, 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 Fayette 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 Fillmore, 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 Fillmore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 62032, both at $804.
Average Fillmore Assessed Value
$44,768
Average Fayette County Assessed Value
$73,758
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fillmore, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62032 | $16,438 | $27,610 | $44,768 | $70,400 | $83,850 |
Source: Ownwell
Property Tax Bills Across Fillmore, Illinois
In Fillmore, located in Fayette County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Fillmore is $44,768. Tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, local government budgets, and specific tax levies for services like schools and infrastructure. Homeowners in Fillmore can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is $540, while the 75th percentile reaches $1,428. At the 90th percentile, homeowners might pay up to $1,758 annually. These figures illustrate how property taxes can significantly impact household budgets, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners plan better and potentially seek exemptions or appeals to manage their property tax obligations more effectively.
Average Fillmore Tax Bill
$804
Average Fayette County Tax Bill
$1,347
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Fillmore, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62032 | $253 | $540 | $804 | $1,428 | $1,758 |
Source: Ownwell