Enfield, Illinois Property Taxes
The median property tax rate in Enfield, IL is 1.63%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Enfield, the typical annual property tax bill reaches $1,363, exceeding the national median of $2,690. Property taxes in Enfield 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 Enfield'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 Enfield 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
Enfield, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$1,528
$1,493
Ownwell’s Enfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Enfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Enfield 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 Enfield, Illinois
Property taxes in Enfield, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Enfield is 1.63%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Enfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Enfield 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 Enfield's effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 62835 has the highest median property tax rate of 1.63%, while the same zip code also has the lowest median tax rate of 1.63%. Understanding how these areas compare with Enfield provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Enfield Tax Rate
1.63%
Average Hamilton County Tax Rate
1.77%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Enfield, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62835 | 1.27% | 1.38% | 1.63% | 1.84% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Enfield, Illinois
In Enfield, 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 Hamilton 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 Enfield, 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 Enfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Enfield is $1,363 in the 62835 zip code, while the lowest median tax bill is also $1,363 in the 62835 zip code.
Average Enfield Assessed Value
$93,723
Average Hamilton County Assessed Value
$61,740
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Enfield, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62835 | $51,514 | $65,764 | $93,723 | $133,115 | $198,901 |
Source: Ownwell
Property Tax Bills Across Enfield, Illinois
In Enfield, property tax bills are calculated based on the assessed value of a home, which is determined by the Hamilton County assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's location, size, age, and condition. For homeowners in Enfield, the median home price is $93,723. Property tax bills can vary significantly, with the 25th percentile at $819, the 75th percentile at $2,166, and the 90th percentile reaching $3,605. The median property tax rate in Hamilton County is 1.45%, which is higher than the national median of 0.99%. This higher rate means homeowners in Enfield may pay more in property taxes relative to other parts of the country. Understanding these factors can help homeowners anticipate their property tax obligations and budget accordingly.
Average Enfield Tax Bill
$1,363
Average Hamilton County Tax Bill
$1,024
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Enfield, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62835 | $702 | $819 | $1,363 | $2,166 | $3,605 |
Source: Ownwell