Berlin, Illinois Property Taxes
The median property tax rate in Berlin, IL is 2.31%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Berlin, the typical annual property tax bill reaches $276, exceeding the national median of $2,690. Property taxes in Berlin 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 Berlin'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 Berlin 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
Berlin, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$275
$269
Ownwell’s Berlin Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Berlin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berlin to provide an accurate property tax estimate. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, accounting for any applicable exemptions.
Property Tax Rates Across Berlin, Illinois
Property taxes in Berlin, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Berlin is 2.31%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Berlin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berlin 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 Berlin's effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 62670 has the highest median property tax rate of 2.31%, which is the same as Berlin’s rate. Understanding how these areas compare with Berlin provides valuable insights into the varying tax landscape across Sangamon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berlin Tax Rate
2.31%
Average Sangamon County Tax Rate
2.31%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berlin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62670 | 2.31% | 2.31% | 2.31% | 2.31% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Berlin, Illinois
In Berlin, 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 local appraisal district 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 Berlin, 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. The median home price in Berlin is $11,919, with tax bills ranging from $145 at the 25th percentile to $736 at the 90th percentile. The highest and lowest median tax bills are both $276, found in zip code 62670. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Berlin Assessed Value
$11,919
Average Sangamon County Assessed Value
$144,820
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berlin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62670 | $4,863 | $6,276 | $11,919 | $21,816 | $31,813 |
Source: Ownwell
Property Tax Bills Across Berlin, Illinois
In Berlin, IL, located in Sangamon County, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Various factors influence the assessed value, including property size, location, and market conditions. For homeowners in Berlin, the median home price is $11,919. Property tax bills can vary significantly, with the 25th percentile at $145 and the 75th percentile at $504. At the 90th percentile, the tax bill can reach up to $736. These figures show a range of what homeowners might expect to pay, depending on their property's assessed value and the specific tax rate in their area. The highest and lowest median tax bills in Berlin are both $276, indicating a relatively consistent tax burden across different properties. Compared to the national median property tax rate of 0.99%, Berlin's rates reflect the local economic conditions and valuation practices, directly impacting homeowners' annual expenses.
Average Berlin Tax Bill
$276
Average Sangamon County Tax Bill
$3,283
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Berlin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62670 | $112 | $145 | $276 | $504 | $736 |
Source: Ownwell