Orangeville, Illinois Property Taxes
The median property tax rate in Orangeville, IL is 3.25%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Orangeville, the typical annual property tax bill reaches $2,797, exceeding the national median of $2,690. Property taxes in Orangeville 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 Orangeville'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 Orangeville 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
Orangeville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.25%
Estimate Property Tax Bill
$3,038
$2,969
Ownwell’s Orangeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orangeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orangeville 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 Orangeville, Illinois
Property taxes in Orangeville, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orangeville is 3.25%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Orangeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orangeville 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 Orangeville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61060 zip code has the highest median property tax rate of 3.25%, while the same zip code also has the lowest median tax rate of 3.25%. Understanding how these cities compare with Orangeville provides valuable insights into the varying tax landscape across Stephenson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orangeville Tax Rate
3.25%
Average Stephenson County Tax Rate
3.21%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orangeville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61060 | 2.29% | 2.51% | 3.25% | 3.66% | 3.82% |
Source: Ownwell
Property Tax Assessment Values Across Orangeville, Illinois
In Orangeville, 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 Stephenson County 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 Orangeville, 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 Orangeville 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 $2,797 in the 61060 zip code.
Average Orangeville Assessed Value
$93,480
Average Stephenson County Assessed Value
$60,276
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orangeville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61060 | $57,330 | $77,316 | $93,480 | $119,378 | $169,980 |
Source: Ownwell
Property Tax Bills Across Orangeville, Illinois
In Orangeville, located in Stephenson County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. This value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Orangeville, the median home price is $93,480. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. For instance, property tax bills in Orangeville range from $2,240 at the 25th percentile to $4,819 at the 90th percentile. This variability highlights how different factors can impact the final amount owed. Compared to the national median property tax rate of 0.99%, the property tax rate in Orangeville can significantly affect homeowners financially. Understanding these factors can help homeowners better anticipate their annual tax obligations and plan accordingly.
Average Orangeville Tax Bill
$2,797
Average Stephenson County Tax Bill
$1,883
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Orangeville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61060 | $2,140 | $2,240 | $2,797 | $3,448 | $4,819 |
Source: Ownwell