Arthur, Illinois Property Taxes
The median property tax rate in Arthur, Illinois is 2.09%, which is considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Arthur being $128,253, the typical annual property tax bill reaches $2,687, just below the national median of $2,690. Property taxes in Arthur 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 Arthur'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 Arthur or another part of Moultrie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arthur, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.09%
Estimate Property Tax Bill
$2,680
$2,619
Ownwell’s Arthur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arthur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arthur 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 Arthur, Illinois
Property taxes in Arthur, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arthur is 2.09%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Arthur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arthur 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 Arthur's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 61911 has both the highest and lowest median property tax rate of 2.09%. Understanding how these cities compare with Arthur provides valuable insights into the varying tax landscape across Moultrie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arthur Tax Rate
2.09%
Average Moultrie County Tax Rate
2.15%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arthur, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61911 | 1.42% | 1.87% | 2.09% | 2.32% | 2.47% |
Source: Ownwell
Property Tax Assessment Values Across Arthur, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Arthur, Illinois. 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 Moultrie 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 Arthur, 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 Arthur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Arthur are both $2687, found in the 61911 zip code.
Average Arthur Assessed Value
$128,253
Average Moultrie County Assessed Value
$97,648
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arthur, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61911 | $53,605 | $82,629 | $128,253 | $192,850 | $270,449 |
Source: Ownwell
Property Tax Bills Across Arthur, Illinois
In Arthur, located in Moultrie County, IL, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The local tax rate, applied to this assessed value, ultimately determines the annual tax bill. For homeowners in Arthur, the median home price is $128,253. Property tax bills can vary significantly, with the 25th percentile at $1,658 and the 75th percentile reaching $4,266. The 90th percentile tax bill can go as high as $6,291. Comparatively, the highest and lowest median tax bills in the region are both $2,687 in the zip code 61911, reflecting a consistent tax rate across different property values. These property tax bills are influenced by factors such as local government budgets, school district funding needs, and public service requirements. Homeowners in Arthur often find that their property tax bills are higher than the national median property tax rate of 0.99%, impacting their overall cost of homeownership and financial planning.
Average Arthur Tax Bill
$2,687
Average Moultrie County Tax Bill
$2,121
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Arthur, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61911 | $884 | $1,658 | $2,687 | $4,266 | $6,291 |
Source: Ownwell