Beecher, Illinois Property Taxes
The median property tax rate in Beecher, IL is 2.54%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Beecher at $151,296, the typical annual property tax bill reaches $4,188, exceeding the national median of $2,690. Property taxes in Beecher 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 Beecher'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 Beecher or another part of Kankakee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beecher, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.54%
Estimate Property Tax Bill
$3,843
$3,755
Ownwell’s Beecher Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beecher with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beecher 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 Beecher, Illinois
Property taxes in Beecher, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beecher is 2.54%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Beecher set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beecher 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 Beecher's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60401 zip code has the highest median property tax rate of 2.54%, while the same zip code also has the lowest median tax rate of 2.54%. Understanding how these cities compare with Beecher provides valuable insights into the varying tax landscape across Kankakee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beecher Tax Rate
2.54%
Average Kankakee County Tax Rate
3.07%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beecher, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60401 | 2.36% | 2.52% | 2.54% | 2.67% | 4.07% |
Source: Ownwell
Property Tax Assessment Values Across Beecher, Illinois
In Beecher, 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 Kankakee 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 Beecher, 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 Beecher helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Beecher, the highest median tax bill is $4,188 in the 60401 zip code.
Average Beecher Assessed Value
$151,296
Average Kankakee County Assessed Value
$137,616
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beecher, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60401 | $52,844 | $75,393 | $151,296 | $170,091 | $181,974 |
Source: Ownwell
Property Tax Bills Across Beecher, Illinois
In Beecher, located in Kankakee County, IL, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor’s office. This assessed value is a percentage of the market value of the home. Once the assessed value is established, local tax rates are applied to calculate the property tax bill. Several factors influence the final tax bill, including the property's location within the county, the specific tax rate set by local taxing authorities, and any exemptions for which the homeowner may qualify. For instance, the median home price in Beecher is $151,296, and property tax bills vary significantly, with the 25th percentile at $2,004 and the 75th percentile reaching $4,373. The 90th percentile tax bill can go as high as $5,416. These property taxes contribute to funding essential public services such as schools, roads, and emergency services. For homeowners, understanding these factors is crucial, as property taxes can significantly impact annual housing costs and overall financial planning.
Average Beecher Tax Bill
$4,188
Average Kankakee County Tax Bill
$4,151
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Beecher, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60401 | $1,452 | $2,004 | $4,188 | $4,373 | $5,416 |
Source: Ownwell