Arenzville, Illinois Property Taxes
The median property tax rate in Arenzville, 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 Arenzville, the typical annual property tax bill reaches $2,133, which is close to the national median of $2,690. Property taxes in Arenzville 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 Arenzville'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 Arenzville 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
Arenzville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.09%
Estimate Property Tax Bill
$2,109
$2,061
Ownwell’s Arenzville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arenzville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arenzville 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 Arenzville, Illinois
Property taxes in Arenzville, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arenzville is 2.09%, significantly higher than both the Illinois state median of 2.25% and the U.S. national median of 0.99%. Local government entities within Arenzville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arenzville 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 Arenzville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62611 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 Arenzville provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arenzville Tax Rate
2.09%
Average Cass County Tax Rate
2.27%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arenzville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62611 | 1.60% | 1.93% | 2.09% | 2.20% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Arenzville, Illinois
In Arenzville, 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 Arenzville, 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 Arenzville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 62611, both at $2,133.
Average Arenzville Assessed Value
$100,905
Average Cass County Assessed Value
$72,645
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arenzville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62611 | $45,705 | $75,158 | $100,905 | $140,752 | $196,863 |
Source: Ownwell
Property Tax Bills Across Arenzville, Illinois
Property tax bills in Arenzville, located in Cass County, IL, are calculated based on the assessed value of a property. This assessed value is typically a percentage of the market value, determined by local assessors. Homeowners in Arenzville can expect their tax bills to vary significantly based on several factors, including property size, location, and any applicable exemptions. For instance, the median home price in Arenzville is $100,905. Tax bills in this area can range widely, with the 25th percentile at $1,460 and the 75th percentile reaching $3,184. Those at the 90th percentile might see tax bills as high as $4,342. Comparing these figures to the national median property tax rate of 0.99%, it's clear that property taxes in Arenzville can have a substantial impact on homeowners' finances. Understanding these factors and how they influence property tax bills can help homeowners better anticipate their annual expenses and plan accordingly.
Average Arenzville Tax Bill
$2,133
Average Cass County Tax Bill
$1,681
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Arenzville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62611 | $726 | $1,460 | $2,133 | $3,184 | $4,342 |
Source: Ownwell