La Salle, Illinois Property Taxes
The median property tax rate in La Salle, IL is 3.46%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in La Salle at $64,766, the typical annual property tax bill amounts to $2,054, which is below the national median of $2,690. Property taxes in La Salle 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 La Salle'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 La Salle 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
La Salle, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.46%
Estimate Property Tax Bill
$2,241
$2,190
Ownwell’s La Salle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in La Salle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in La Salle 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 La Salle, Illinois
Property taxes in La Salle, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in La Salle is 3.46%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within La Salle set these rates annually, and they can vary across different neighborhoods. Each year, La Salle estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total assessed 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 La Salle's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 61301 has the highest median property tax rate of 3.46%, while the same zip code also represents the lowest median tax rate of 3.46%. Understanding how these cities compare with La Salle provides valuable insights into the varying tax landscape across LaSalle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Salle Tax Rate
3.46%
Average Lasalle County Tax Rate
3.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Salle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61301 | 2.44% | 3.46% | 3.46% | 3.46% | 3.49% |
Source: Ownwell
Property Tax Assessment Values Across La Salle, Illinois
In La Salle, 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 LaSalle County Assessor's Office 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 La Salle, 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 La Salle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 61301 has both the highest and lowest median tax bill at $2,054.
Average La Salle Assessed Value
$64,766
Average Lasalle County Assessed Value
$83,415
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Salle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61301 | $34,267 | $47,944 | $64,766 | $81,848 | $108,506 |
Source: Ownwell
Property Tax Bills Across La Salle, Illinois
In La Salle, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The property tax rate in La Salle is applied to this assessed value to calculate the annual tax bill. For homeowners, the median home price in La Salle is $64,766, and the tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,464, while the 75th percentile tax bill reaches $2,525. At the 90th percentile, homeowners can expect to pay around $3,527. These figures reflect the variability in property tax bills, influenced by factors such as property location and specific tax rates. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Homeowners in La Salle should be aware of these factors as they can significantly impact their annual expenses.
Average La Salle Tax Bill
$2,054
Average Lasalle County Tax Bill
$2,340
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across La Salle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61301 | $645 | $1,464 | $2,054 | $2,525 | $3,527 |
Source: Ownwell