Avon, Illinois Property Taxes
The median property tax rate in Avon, Illinois is 2.62%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Avon at $59,189, the typical annual property tax bill reaches $786, exceeding the national median of $2,690. Property taxes in Avon 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 Avon'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 Avon 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
Avon, 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 Avon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Avon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Avon 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 Avon, Illinois
Property taxes in Avon, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Avon stands at 2.62%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Avon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Avon 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 Avon's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61415 zip code has the highest median property tax rate of 2.62%, while the same zip code also has the lowest median tax rate of 2.62%. Understanding how these cities compare with Avon provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Avon Tax Rate
2.62%
Average Fulton County Tax Rate
2.71%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Avon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61415 | 1.26% | 1.79% | 2.62% | 3.08% | 3.08% |
Source: Ownwell
Property Tax Assessment Values Across Avon, Illinois
In Avon, 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 Fulton 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 Avon, 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. Avon’s median home price is $59,189, with tax bills ranging from $399 at the 25th percentile to $1,953 at the 90th percentile. The zip code 61415 has the highest and lowest median tax bill at $786. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Avon Assessed Value
$59,189
Average Fulton County Assessed Value
$71,967
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Avon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61415 | $20,973 | $35,315 | $59,189 | $77,448 | $104,078 |
Source: Ownwell
Property Tax Bills Across Avon, Illinois
In Avon, located in Fulton County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the market value of the property. For instance, with a median home price of $59,189, the assessed value will be a fraction of this amount, depending on local assessment ratios. The tax rate is then applied to this assessed value to determine the annual property tax bill. In Avon, property tax bills can vary significantly. For example, the tax bill at the 25th percentile is $399, while at the 75th percentile, it rises to $1,351. The 90th percentile tax bill reaches $1,953, highlighting the range of potential tax burdens on homeowners. Compared to the national median property tax rate of 0.99%, homeowners in Avon might experience different tax rates, impacting their annual financial planning and the overall affordability of homeownership in the area.
Average Avon Tax Bill
$786
Average Fulton County Tax Bill
$1,058
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Avon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61415 | $287 | $399 | $786 | $1,351 | $1,953 |
Source: Ownwell