Clifton, Illinois Property Taxes
The median property tax rate in Clifton, IL is 2.48%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $144,494 in Clifton, the typical annual property tax bill reaches $3,709, surpassing the national median of $2,690. Property taxes in Clifton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Clifton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Clifton or another part of Iroquois County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clifton, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.48%
Estimate Property Tax Bill
$3,583
$3,502
Ownwell’s Clifton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clifton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clifton 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 Clifton, Illinois
Property taxes in Clifton, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clifton is 2.48%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Clifton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clifton 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 Clifton's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60927 zip code has the highest median property tax rate of 2.48%, while the same zip code also has the lowest median tax rate of 2.48%. Understanding how these cities compare with Clifton provides valuable insights into the varying tax landscape across Iroquois County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clifton Tax Rate
2.48%
Average Iroquois County Tax Rate
2.59%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clifton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60927 | 1.77% | 2.11% | 2.48% | 2.92% | 3.22% |
Source: Ownwell
Property Tax Assessment Values Across Clifton, Illinois
In Clifton, 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 Iroquois County Assessor 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 Clifton, 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 Clifton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Clifton both stand at $3,709 in the 60927 zip code.
Average Clifton Assessed Value
$144,494
Average Iroquois County Assessed Value
$114,710
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clifton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60927 | $13,698 | $96,616 | $144,494 | $220,382 | $300,148 |
Source: Ownwell
Property Tax Bills Across Clifton, Illinois
In Clifton, located in Iroquois County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Clifton face property tax rates that can significantly impact their annual expenses. The median home price in Clifton is $144,494. Tax bills in the area vary widely, with homeowners in the 25th percentile paying around $2,429, while those in the 75th percentile see bills as high as $6,685. For the top 10% of homeowners, tax bills can reach up to $8,816 annually. The property tax rate in Clifton is influenced by various factors, including local government budgets, school district funding, and public services. With the national median property tax rate at 0.99%, Clifton's property tax landscape can be seen as relatively higher, especially for higher-valued properties. These taxes fund essential services like public education, infrastructure, and emergency services, directly affecting the quality of life for homeowners in Clifton.
Average Clifton Tax Bill
$3,709
Average Iroquois County Tax Bill
$3,017
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Clifton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60927 | $1,379 | $2,429 | $3,709 | $6,685 | $8,816 |
Source: Ownwell