Trilla, Illinois Property Taxes
The median property tax rate in Trilla, IL is 1.72%, which is considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Trilla at $126,159, the typical annual property tax bill reaches $2,347, slightly below the national median of $2,690. Property taxes in Trilla 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 Trilla'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 Trilla 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
Trilla, 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 Trilla Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trilla with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trilla 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 Trilla, Illinois
Property taxes in Trilla, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trilla is 1.72%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Trilla set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trilla 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 Trilla's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62469 has the highest median property tax rate of 1.72%, while the same zip code also has the lowest median tax rate of 1.72%. Understanding how these cities compare with Trilla provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trilla Tax Rate
1.72%
Average Cumberland County Tax Rate
1.86%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trilla, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62469 | 1.34% | 1.59% | 1.72% | 1.89% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Trilla, Illinois
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Trilla, Illinois. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Cumberland County Assessor for tax purposes. On the other hand, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. This assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Trilla, 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. Awareness of these valuation processes in Trilla helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Trilla is $2,347 in the 62469 zip code, which also has the lowest median tax bill of $2,347.
Average Trilla Assessed Value
$126,159
Average Cumberland County Assessed Value
$107,319
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trilla, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62469 | $69,000 | $90,096 | $126,159 | $193,044 | $253,236 |
Source: Ownwell
Property Tax Bills Across Trilla, Illinois
In Trilla, Cumberland County, IL, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the total tax bill. For homeowners in Trilla, the median home price stands at $126,159. Property tax bills can vary significantly within the area, with the 25th percentile tax bill at $1,720 and the 75th percentile reaching $3,255. Those in the 90th percentile may see tax bills as high as $4,454. Several factors influence these tax bills, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. This system ensures that homeowners contribute to local services such as schools, public safety, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, Trilla's tax rates reflect the local government's funding needs and priorities, impacting homeowners' annual financial obligations.
Average Trilla Tax Bill
$2,347
Average Cumberland County Tax Bill
$1,976
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Trilla, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62469 | $1,231 | $1,720 | $2,347 | $3,255 | $4,454 |
Source: Ownwell