Longview, Illinois Property Taxes
The median property tax rate in Longview, Illinois is 2.17%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Longview at $64,275, the typical annual property tax bill reaches $1,191, exceeding the national median of $2,690. Property taxes in Longview 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 Longview'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 Longview 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
Longview, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$1,395
$1,363
Ownwell’s Longview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Longview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Longview 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 Longview, Illinois
Property taxes in Longview, Illinois, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Longview is 2.17%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Longview set these rates annually, and they can vary across different neighborhoods. Each year, Longview 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 Longview's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 61852 has the highest median property tax rate of 2.17%, while the same zip code also has the lowest median tax rate of 2.17%. Understanding how these cities compare with Longview provides valuable insights into the varying tax landscape across Champaign County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Longview Tax Rate
2.17%
Average Champaign County Tax Rate
2.54%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Longview, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61852 | 0.67% | 1.67% | 2.17% | 2.74% | 2.78% |
Source: Ownwell
Property Tax Assessment Values Across Longview, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Longview, Illinois. 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 Champaign 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. Assessment notices in Longview 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 Longview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 61852 at $1191, while the lowest is also 61852 at $1191.
Average Longview Assessed Value
$64,275
Average Champaign County Assessed Value
$152,850
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Longview, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61852 | $15,333 | $38,422 | $64,275 | $146,962 | $199,857 |
Source: Ownwell
Property Tax Bills Across Longview, Illinois
In Longview, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is a percentage of the market value of the property. For example, if the median home price is $64,275, the assessed value will be a fraction of this amount. The tax rate, set by local taxing authorities, is then applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, market conditions, and any applicable exemptions or deductions. In Longview, the property tax bills vary significantly. At the 25th percentile, homeowners pay around $479, while at the 75th percentile, the tax bill rises to $2,798. The top 10% of homeowners face tax bills as high as $4,243. These property taxes are crucial for funding public services such as schools, emergency services, and infrastructure. However, for homeowners, high property taxes can significantly impact monthly budgets and overall financial planning. Comparing this to the national median property tax rate of 0.99%, Longview's rates can be relatively burdensome, especially for those at the higher end of the spectrum.
Average Longview Tax Bill
$1,191
Average Champaign County Tax Bill
$3,816
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Longview, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61852 | $144 | $479 | $1,191 | $2,798 | $4,243 |
Source: Ownwell