Roberts, Illinois Property Taxes
The median property tax rate in Roberts, IL is 2.61%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Roberts, the typical annual property tax bill reaches $1,407, exceeding the national median of $2,690. Property taxes in Roberts 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 Roberts' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Roberts 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
Roberts, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$1,710
$1,671
Ownwell’s Roberts Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roberts with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roberts 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 Roberts, Illinois
Property taxes in Roberts, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roberts is 2.61%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Roberts set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roberts 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 Roberts' effective property tax rate to other areas in Illinois and the national median. For comparison, the 60962 zip code has the highest median property tax rate of 2.61%, while the same 60962 zip code also has the lowest median tax rate of 2.61%. Understanding how these areas compare with Roberts provides valuable insights into the varying tax landscape across Ford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roberts Tax Rate
2.61%
Average Ford County Tax Rate
2.52%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roberts, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60962 | 1.41% | 1.95% | 2.61% | 3.13% | 3.15% |
Source: Ownwell
Property Tax Assessment Values Across Roberts, Illinois
In Roberts, 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 Ford County Assessor's 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 Roberts, 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. For instance, the median home price in Roberts is $65,520, with the 25th percentile tax bill at $745 and the 75th percentile tax bill at $3,261. The highest median tax bill is $1,407 in zip code 60962. 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 Roberts helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Roberts Assessed Value
$65,520
Average Ford County Assessed Value
$93,960
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roberts, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60962 | $21,000 | $36,240 | $65,520 | $118,950 | $193,878 |
Source: Ownwell
Property Tax Bills Across Roberts, Illinois
Property tax bills in Roberts, located in Ford County, IL, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Homeowners in Roberts can expect varying tax bills depending on their property values. For instance, the tax bill at the 25th percentile is $745, while it rises to $3,261 at the 75th percentile and reaches $6,214 at the 90th percentile. The local property tax rate in Roberts influences how much homeowners pay annually. With a median home price of $65,520, the tax rate is a critical factor. Compared to the national median property tax rate of 0.99%, Roberts' tax rates can significantly impact homeowners' financial planning. Understanding these factors helps homeowners anticipate their tax obligations and manage their budgets more effectively.
Average Roberts Tax Bill
$1,407
Average Ford County Tax Bill
$2,272
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Roberts, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60962 | $308 | $745 | $1,407 | $3,261 | $6,214 |
Source: Ownwell