Du Bois, Illinois Property Taxes
The median property tax rate in DU BOIS, IL is 1.20%, slightly above the national median of 0.99%, but lower than the Illinois state median of 2.35%. With a median home value of $44,409 in DU BOIS, the typical annual property tax bill is $532, which is considerably less than the national median of $2,690. Property taxes in DU BOIS are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding DU BOIS'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 DU BOIS or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Du Bois, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$533
$521
Ownwell’s DU BOIS Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in DU BOIS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DU BOIS 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 Du Bois, Illinois
Property taxes in Du Bois, Illinois, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Du Bois stands at 1.20%, which is significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Du Bois set these rates annually, and they can vary significantly across different neighborhoods. Each year, Du Bois 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 Du Bois's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62831 has both the highest and lowest median property tax rate of 1.20%. Understanding how these areas compare with Du Bois provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Du Bois Tax Rate
1.20%
Average Jefferson County Tax Rate
2.20%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Du Bois, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62831 | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Du Bois, Illinois
In Du Bois, 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 Jefferson 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 Du Bois, 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 Du Bois helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 62831 has both the highest and lowest median tax bills, each at $532, reflecting a uniform tax landscape in this area.
Average Du Bois Assessed Value
$44,409
Average Jefferson County Assessed Value
$61,827
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Du Bois, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62831 | $44,409 | $44,409 | $44,409 | $44,409 | $44,409 |
Source: Ownwell
Property Tax Bills Across Du Bois, Illinois
In Du Bois, Jefferson County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Du Bois can expect a median property tax bill of approximately $532, which is consistent across various percentiles, indicating a uniform assessment approach within the city. This tax bill is derived from the county's tax rate applied to the assessed value of the property. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the property tax rate in Du Bois is relatively modest, making it an attractive location for homeowners seeking lower tax obligations. This affects homeowners by providing a predictable and relatively low property tax burden, which can be a significant factor in overall housing affordability and long-term financial planning.
Average Du Bois Tax Bill
$532
Average Jefferson County Tax Bill
$1,229
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Du Bois, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62831 | $532 | $532 | $532 | $532 | $532 |
Source: Ownwell