Atlanta, Illinois Property Taxes
The median property tax rate in Atlanta, IL is 2.45%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Atlanta, the typical annual property tax bill reaches $3,914, exceeding the national median of $2,690. Property taxes in Atlanta 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 Atlanta'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 Atlanta 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
Atlanta, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.45%
Estimate Property Tax Bill
$3,859
$3,771
Ownwell’s Atlanta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Atlanta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Atlanta 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 Atlanta, Illinois
Property taxes in Atlanta, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Atlanta is 2.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Atlanta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atlanta 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 Atlanta's effective property tax rate to other areas and the national median. For comparison, the zip code 61723 has both the highest and lowest median property tax rate of 2.45%. Understanding how these areas compare with Atlanta provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atlanta Tax Rate
2.45%
Average Logan County Tax Rate
2.39%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atlanta, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61723 | 1.91% | 2.19% | 2.45% | 2.68% | 2.84% |
Source: Ownwell
Property Tax Assessment Values Across Atlanta, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Atlanta, Illinois. The market value represents 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 Logan 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 Atlanta, 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 Atlanta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 61723, with a value of $3,914.
Average Atlanta Assessed Value
$157,515
Average Logan County Assessed Value
$165,735
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atlanta, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61723 | $65,010 | $101,392 | $157,515 | $213,308 | $287,415 |
Source: Ownwell
Property Tax Bills Across Atlanta, Illinois
In Atlanta, Logan County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $157,515. Local tax authorities determine the assessed value and apply the local tax rate to calculate the tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Atlanta, Logan County, IL, experience a range of property tax bills. For instance, those in the 25th percentile pay around $2,365, while those in the 75th percentile face bills as high as $5,449. At the 90th percentile, tax bills can reach up to $7,363. The highest median tax bill in the county is $3,914, which is significantly higher than the national median property tax rate of 0.99%. These varying tax bills can significantly impact homeowners' financial planning and overall cost of living, making it essential to understand how property taxes are determined and managed.
Average Atlanta Tax Bill
$3,914
Average Logan County Tax Bill
$4,059
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Atlanta, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61723 | $1,447 | $2,365 | $3,914 | $5,449 | $7,363 |
Source: Ownwell