Ewing, Illinois Property Taxes
The median property tax rate in Ewing, IL is 2.91%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Ewing at $98,475, the typical annual property tax bill reaches $3,054, exceeding the national median of $2,690. Property taxes in Ewing 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 Ewing'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 Ewing 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
Ewing, 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 Ewing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ewing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ewing 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 Ewing, Illinois
Property taxes in Ewing, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ewing is 2.91%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Ewing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ewing 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 Ewing's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62836 has the highest median property tax rate of 2.91%, while the same zip code also has the lowest median tax rate of 2.91%. Understanding how these cities compare with Ewing provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ewing Tax Rate
2.91%
Average Franklin County Tax Rate
2.37%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ewing, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62836 | 1.82% | 2.52% | 2.91% | 3.48% | 4.38% |
Source: Ownwell
Property Tax Assessment Values Across Ewing, Illinois
In Ewing, 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 Franklin 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 Ewing, 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 Ewing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ewing is $98,475, with tax bills ranging from $1,869 at the 25th percentile to $6,517 at the 90th percentile. The highest and lowest median tax bills are both $3,054 in the 62836 zip code.
Average Ewing Assessed Value
$98,475
Average Franklin County Assessed Value
$55,530
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ewing, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62836 | $4,098 | $40,800 | $98,475 | $159,900 | $203,850 |
Source: Ownwell
Property Tax Bills Across Ewing, Illinois
In Ewing, IL, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. Homeowners in Ewing see a range of tax bills, with the 25th percentile at $1,869 and the 75th percentile at $4,909. At the higher end, the 90th percentile tax bill reaches $6,517. Compared to the national median property tax rate of 0.99%, Ewing's property tax rates can significantly impact homeowners, especially those with higher-valued properties. The highest median tax bill in Franklin County, where Ewing is located, is $3,054, indicating a considerable variation within the region. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly affecting the community's quality of life.
Average Ewing Tax Bill
$3,054
Average Franklin County Tax Bill
$1,464
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Ewing, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62836 | $518 | $1,869 | $3,054 | $4,909 | $6,517 |
Source: Ownwell