Plainview, Illinois Property Taxes
The median property tax rate in Plainview, IL is 1.73%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Plainview at $113,528, the typical annual property tax bill reaches $1,730, which is below the national median of $2,690. Property taxes in Plainview 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 Plainview'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 Plainview 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
Plainview, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$1,964
$1,919
Ownwell’s Plainview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plainview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plainview 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 Plainview, Illinois
Property taxes in Plainview, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plainview is 1.73%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Plainview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plainview 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 Plainview's effective property tax rate to other counties in Illinois and the national median. For comparison, the highest median property tax rate in Macoupin County is also 1.73%, found in the zip code 62685. The lowest median tax rate in the county is the same at 1.73%. Understanding how these cities compare with Plainview provides valuable insights into the varying tax landscape across Macoupin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plainview Tax Rate
1.73%
Average Macoupin County Tax Rate
1.93%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plainview, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62685 | 0.92% | 1.30% | 1.73% | 1.85% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Plainview, Illinois
In Plainview, 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 Macoupin 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 Plainview, 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 Plainview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,730, found in zip code 62685, while the lowest median tax bill is also $1,730 in the same zip code.
Average Plainview Assessed Value
$113,528
Average Macoupin County Assessed Value
$80,204
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plainview, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62685 | $23,638 | $59,158 | $113,528 | $155,116 | $208,142 |
Source: Ownwell
Property Tax Bills Across Plainview, Illinois
In Plainview, located in Macoupin County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Factors such as the property's location, size, and improvements can influence this assessment. For example, the median home price in Plainview is $113,528. With the national median property tax rate at 0.99%, homeowners in Plainview can expect to pay a tax bill around this rate, although local rates may vary. Tax bills in the area range significantly, with the 25th percentile at $946 and the 75th percentile at $2,684. The 90th percentile reaches up to $3,845, indicating a substantial variance based on property value and other factors. These property taxes fund essential public services like schools, roads, and emergency services, directly impacting the community's quality of life. Homeowners should be aware of these factors to better understand their tax obligations and potential exemptions.
Average Plainview Tax Bill
$1,730
Average Macoupin County Tax Bill
$1,490
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Plainview, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62685 | $276 | $946 | $1,730 | $2,684 | $3,845 |
Source: Ownwell