Emden, Illinois Property Taxes
The median property tax rate in Emden, IL is 2.51%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Emden, the typical annual property tax bill reaches $2,602, slightly below the national median of $2,690. Property taxes in Emden 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 Emden'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 Emden or another part of Tazewell County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Emden, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$2,678
$2,617
Ownwell’s EMDEN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EMDEN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EMDEN 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 Emden, Illinois
Property taxes in Emden, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emden is 2.51%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Emden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emden 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 Emden's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62635 zip code has both the highest and lowest median property tax rate of 2.51%. Understanding how these rates compare with Emden provides valuable insights into the varying tax landscape across Tazewell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emden Tax Rate
2.51%
Average Tazewell County Tax Rate
2.46%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emden, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62635 | 1.98% | 2.13% | 2.51% | 2.62% | 2.92% |
Source: Ownwell
Property Tax Assessment Values Across Emden, Illinois
In Emden, 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 Tazewell 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 Emden, 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 Emden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Emden is $106,710, with tax bills ranging from $1,733 at the 25th percentile to $7,204 at the 90th percentile. The highest and lowest median tax bills are both $2,602 in the 62635 zip code.
Average Emden Assessed Value
$106,710
Average Tazewell County Assessed Value
$127,050
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emden, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62635 | $20,889 | $97,268 | $106,710 | $153,368 | $278,310 |
Source: Ownwell
Property Tax Bills Across Emden, Illinois
In EMDEN, located in Tazewell County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value typically represents a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Several factors influence the tax bill, including the market value of the property, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in EMDEN is $106,710. Homeowners in the 25th percentile can expect tax bills around $1,733, while those in the 75th percentile might see bills as high as $3,870. At the 90th percentile, tax bills can soar to $7,204. These property taxes significantly impact homeowners, as they must budget for these annual expenses. Comparing this to the national median property tax rate of 0.99%, homeowners in EMDEN need to be particularly mindful of how property tax assessments and local rates affect their overall financial planning.
Average Emden Tax Bill
$2,602
Average Tazewell County Tax Bill
$3,118
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Emden, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62635 | $523 | $1,733 | $2,602 | $3,870 | $7,204 |
Source: Ownwell