Dover, Illinois Property Taxes
The median property tax rate in Dover, IL is 2.09%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Dover at $53,094, the typical annual property tax bill reaches $781, which is lower than the national median of $2,690. Property taxes in Dover 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 Dover'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 Dover or another part of Bureau County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dover, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.09%
Estimate Property Tax Bill
$1,110
$1,084
Ownwell’s Dover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dover 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 Dover, Illinois
Property taxes in Dover, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dover is 2.09%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Dover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dover 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 Dover's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61323 zip code has the highest median property tax rate of 2.09%, while the same zip code also has the lowest median tax rate of 2.09%. Understanding how these cities compare with Dover provides valuable insights into the varying tax landscape across Bureau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dover Tax Rate
2.09%
Average Bureau County Tax Rate
2.33%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dover, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61323 | 0.77% | 1.54% | 2.09% | 2.65% | 2.65% |
Source: Ownwell
Property Tax Assessment Values Across Dover, Illinois
In Dover, 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 Bureau 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 Dover, 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 Dover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $781, found in zip code 61323.
Average Dover Assessed Value
$53,094
Average Bureau County Assessed Value
$89,799
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dover, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61323 | $12,496 | $25,119 | $53,094 | $83,672 | $110,297 |
Source: Ownwell
Property Tax Bills Across Dover, Illinois
In Dover, Bureau County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners in Dover experience a range of tax bills, with the 25th percentile paying around $375 and the 75th percentile facing tax bills up to $1,721. The 90th percentile sees tax bills as high as $2,342. The median home price in Dover is $53,094, and local property tax rates are applied to this assessed value to determine the final tax bill. Several factors influence the assessed value, including property size, condition, and location. Compared to the national median property tax rate of 0.99%, Dover’s rates can significantly impact homeowners' finances. Understanding these factors helps homeowners anticipate their tax obligations and manage their budgets effectively. The highest median tax bill in Dover is $781, which is consistent across the zip code 61323.
Average Dover Tax Bill
$781
Average Bureau County Tax Bill
$2,024
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Dover, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61323 | $260 | $375 | $781 | $1,721 | $2,342 |
Source: Ownwell