Fidelity, Illinois Property Taxes
The median property tax rate in Fidelity, Illinois is 1.04%, which is slightly higher than the national median of 0.99% but significantly lower than the Illinois state median of 2.35%. With the median home value in Fidelity at $14,565, the typical annual property tax bill amounts to $137, well below the national median of $2,690. Property taxes in Fidelity are calculated based on the tax assessed value, often lower than the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Fidelity'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 Fidelity or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fidelity, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$151
$148
Ownwell’s Fidelity Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fidelity with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fidelity 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 Fidelity, Illinois
Property taxes in Fidelity, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fidelity is 1.32%, higher than both the Illinois state median of 2.27% and the U.S. national median of 0.99%. Local government entities within Fidelity set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fidelity 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 Fidelity's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62030 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Fidelity provides valuable insights into the varying tax landscape across Jersey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fidelity Tax Rate
1.04%
Average Jersey County Tax Rate
2.18%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fidelity, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62030 | 0.62% | 0.94% | 1.04% | 1.47% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Fidelity, Illinois
In Fidelity, 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 Jersey 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 Fidelity, 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 Fidelity helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 62030 has both the highest and lowest median tax bills at $137.
Average Fidelity Assessed Value
$14,565
Average Jersey County Assessed Value
$130,268
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fidelity, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62030 | $7,287 | $14,235 | $14,565 | $33,135 | $43,512 |
Source: Ownwell
Property Tax Bills Across Fidelity, Illinois
In Fidelity, located in Jersey County, IL, property tax bills are determined by multiplying the assessed value of the property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Fidelity face property tax bills that vary significantly. For instance, tax bills at the 25th percentile are around $61, while those at the 75th percentile can reach up to $346. The tax bill for properties in the 90th percentile is approximately $583. The highest and lowest median tax bills in the area are both $137, indicating a relatively consistent tax rate within the zip code 62030. These property taxes fund essential local services such as public schools, infrastructure, and emergency services. For homeowners, understanding how these taxes are calculated can help in financial planning and ensuring accurate assessments. Comparing these figures to the national median property tax rate of 0.99% provides a useful benchmark for evaluating local tax burdens.
Average Fidelity Tax Bill
$137
Average Jersey County Tax Bill
$2,776
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Fidelity, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62030 | $59 | $61 | $137 | $346 | $583 |
Source: Ownwell