Fieldon, Illinois Property Taxes
The median property tax rate in Fieldon, IL is 2.10%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Fieldon at $81,622, the typical annual property tax bill reaches $1,599, falling below the national median of $2,690. Property taxes in Fieldon 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 Fieldon'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 Fieldon 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
Fieldon, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.1%
Estimate Property Tax Bill
$1,714
$1,675
Ownwell’s Fieldon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fieldon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fieldon 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 Fieldon, Illinois
Property taxes in Fieldon, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fieldon is 2.10%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Fieldon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fieldon 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 Fieldon's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62031 has the highest median property tax rate of 2.10%, while the lowest median tax rate is also 2.10%. Understanding how these cities compare with Fieldon provides valuable insights into the varying tax landscape across Jersey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fieldon Tax Rate
2.10%
Average Jersey County Tax Rate
2.18%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fieldon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62031 | 0.98% | 1.48% | 2.10% | 2.24% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Fieldon, Illinois
In Fieldon, 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 Jersey 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 Fieldon, 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. For example, the median home price in Fieldon is $81,622, with tax bills ranging from $625 at the 25th percentile to $4,580 at the 90th percentile. Being aware of these valuation processes in Fieldon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fieldon Assessed Value
$81,622
Average Jersey County Assessed Value
$130,268
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fieldon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62031 | $16,512 | $35,674 | $81,622 | $153,720 | $199,476 |
Source: Ownwell
Property Tax Bills Across Fieldon, Illinois
Property tax bills in Fieldon, located in Jersey County, IL, are determined by assessing the value of a property and applying the local tax rate. The assessed value is typically a percentage of the property's market value. In this region, the median home price is $81,622. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. Homeowners in Fieldon experience a range of property tax bills. For instance, the 25th percentile tax bill is $625, while the 75th percentile reaches $3,227. At the higher end, the 90th percentile tax bill is $4,580. These variations reflect differences in property values and assessment practices. Compared to the national median property tax rate of 0.99%, the property tax rates in Fieldon can significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Fieldon Tax Bill
$1,599
Average Jersey County Tax Bill
$2,776
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Fieldon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62031 | $287 | $625 | $1,599 | $3,227 | $4,580 |
Source: Ownwell