Trenton, Illinois Property Taxes
The median property tax rate in Trenton, IL is 1.98%, significantly higher than both the national median of 0.99% and Illinois' state median of 2.35%. With a median home value of $170,700 in Trenton, the typical annual property tax bill amounts to $3,337, surpassing the national median of $2,690. Property taxes in Trenton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Trenton'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 Trenton 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
Trenton, 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 Trenton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trenton 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 Trenton, Illinois
Property taxes in Trenton, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trenton is 1.98%, significantly higher than the U.S. national median of 0.99%. Local government entities within Trenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trenton 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 Trenton's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62293 zip code has the highest median property tax rate of 1.98%, while the same zip code also has the lowest median tax rate of 1.98%. Understanding how these cities compare with Trenton provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trenton Tax Rate
1.98%
Average Clinton County Tax Rate
2.02%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trenton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62293 | 1.50% | 1.85% | 1.98% | 2.15% | 2.35% |
Source: Ownwell
Property Tax Assessment Values Across Trenton, Illinois
In Trenton, 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 Clinton 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 Trenton, 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 Trenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $170,700, with tax bills ranging from $2,161 at the 25th percentile to $6,019 at the 90th percentile. The zip code 62293 has the highest and lowest median tax bill of $3,337.
Average Trenton Assessed Value
$170,700
Average Clinton County Assessed Value
$140,970
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trenton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62293 | $79,415 | $118,320 | $170,700 | $234,540 | $305,212 |
Source: Ownwell
Property Tax Bills Across Trenton, Illinois
In Trenton, Clinton County, IL, property tax bills are calculated based on the assessed value of the home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For homeowners in Trenton, the median home price is $170,700. Property taxes can vary significantly, with the 25th percentile tax bill being $2,161 and the 75th percentile reaching $4,630. At the 90th percentile, tax bills can soar to $6,019. Several factors influence these tax bills, including local government budgets, school funding requirements, and other municipal needs. Homeowners may find that their property tax bills are higher or lower depending on the specific services and infrastructure needs of their area. The highest and lowest median tax bills in Trenton are both recorded at $3,337, which is above the national median property tax rate of 0.99%. This indicates that Trenton homeowners generally face higher property tax obligations compared to the national average, impacting their overall cost of homeownership.
Average Trenton Tax Bill
$3,337
Average Clinton County Tax Bill
$2,760
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Trenton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62293 | $1,371 | $2,161 | $3,337 | $4,630 | $6,019 |
Source: Ownwell