Marseilles, Illinois Property Taxes
The median property tax rate in Marseilles, IL is 2.73%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Marseilles at $84,336, the typical annual property tax bill reaches $2,117, which is below the national median of $2,690. Property taxes in Marseilles are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Marseilles' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Marseilles or another part of LaSalle County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marseilles, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.73%
Estimate Property Tax Bill
$2,302
$2,250
Ownwell’s Marseilles Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marseilles with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marseilles 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 LaSalle County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Marseilles, Illinois
Property taxes in Marseilles, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marseilles stands at 2.73%, significantly higher than the U.S. national median of 0.99%. Local government entities within Marseilles set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marseilles 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 Marseilles' effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 61341 has both the highest and lowest median property tax rate of 2.73%. Understanding how these figures compare with Marseilles 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 Marseilles Tax Rate
2.73%
Average Lasalle County Tax Rate
3.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marseilles, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61341 | 1.86% | 2.38% | 2.73% | 3.55% | 3.55% |
Source: Ownwell
Property Tax Assessment Values Across Marseilles, Illinois
In Marseilles, 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 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 Marseilles, 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. In Marseilles, the median home price is $84,336, with tax bills ranging from $1,392 at the 25th percentile to $4,342 at the 90th percentile. The zip code 61341 has both the highest and lowest median tax bill at $2,117. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marseilles Assessed Value
$84,336
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 Marseilles, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61341 | $45,272 | $56,754 | $84,336 | $109,569 | $156,095 |
Source: Ownwell
Property Tax Bills Across Marseilles, Illinois
In Marseilles, LaSalle County, 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. Homeowners in Marseilles can expect a median property tax rate of around 2.51%, significantly higher than the national median of 0.99%. Various factors influence the tax bill, including the property's location, market value, and any applicable exemptions. For instance, the median home price in Marseilles is $84,336. Property tax bills in this area range widely, with the 25th percentile at $1,392, the 75th percentile at $3,240, and the 90th percentile reaching up to $4,342. These tax bills can substantially impact homeowners, making it crucial to understand how property values and local tax rates affect annual expenses. High property taxes can influence decisions on homeownership, affordability, and long-term financial planning.
Average Marseilles Tax Bill
$2,117
Average Lasalle County Tax Bill
$2,340
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Marseilles, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61341 | $881 | $1,392 | $2,117 | $3,240 | $4,342 |
Source: Ownwell