Manlius, Illinois Property Taxes
The median property tax rate in Manlius, Illinois is 2.39%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Manlius, the typical annual property tax bill reaches $1,660, exceeding the national median of $2,690. Property taxes in Manlius 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 Manlius'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 Manlius 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
Manlius, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Manlius Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manlius with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manlius 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 Manlius, Illinois
Property taxes in Manlius, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manlius is 2.39%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Manlius set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manlius 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 Manlius's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61338 zip code has the highest median property tax rate of 2.39%, while the same zip code also has the lowest median tax rate of 2.39%. Understanding how these cities compare with Manlius 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 Manlius Tax Rate
2.39%
Average Bureau County Tax Rate
2.33%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manlius, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61338 | 1.49% | 2.00% | 2.39% | 3.16% | 3.16% |
Source: Ownwell
Property Tax Assessment Values Across Manlius, Illinois
In Manlius, 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 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 Manlius, 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. For instance, the median home price in Manlius is $76,428, and the tax bills can range significantly. The 25th percentile tax bill is $1,079, while the 75th percentile tax bill reaches $2,358, and the 90th percentile tax bill is $2,823. 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 Manlius helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Manlius Assessed Value
$76,428
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 Manlius, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61338 | $31,657 | $52,433 | $76,428 | $93,156 | $123,112 |
Source: Ownwell
Property Tax Bills Across Manlius, Illinois
In Manlius, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For instance, the median home price in Manlius is $76,428. Property tax bills in this area can vary significantly, with the 25th percentile at $1,079 and the 75th percentile reaching $2,358. At the 90th percentile, homeowners might see tax bills as high as $2,823. These tax bills are influenced by various factors including the home's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Manlius may find their property tax bills to be quite variable. This variability can significantly impact household budgets, making it crucial for homeowners to understand how their property tax bill is determined and what options they may have for appealing or reducing it.
Average Manlius Tax Bill
$1,660
Average Bureau County Tax Bill
$2,024
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Manlius, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61338 | $629 | $1,079 | $1,660 | $2,358 | $2,823 |
Source: Ownwell