Bristol, Illinois Property Taxes
The median property tax rate in Bristol, IL is 2.68%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Bristol at $252,378, the typical annual property tax bill reaches $6,562, exceeding the national median of $2,690. Property taxes in Bristol 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 Bristol'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 Bristol 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
Bristol, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.68%
Estimate Property Tax Bill
$6,764
$6,609
Ownwell’s Bristol Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bristol with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bristol 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 Bristol, Illinois
Property taxes in Bristol, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bristol is 2.68%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Bristol set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bristol 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 Bristol's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60512 zip code has the highest median property tax rate of 2.68%, while the same zip code also has the lowest median tax rate of 2.68%. Understanding how these cities compare with Bristol provides valuable insights into the varying tax landscape across Kendall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bristol Tax Rate
2.68%
Average Kendall County Tax Rate
2.83%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bristol, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60512 | 2.14% | 2.55% | 2.68% | 2.77% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Bristol, Illinois
In Bristol, 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 Kendall County Assessor's Office 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 Bristol, 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 Bristol helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 60512 has the highest median tax bill at $6,562, while the lowest is also in the same zip code.
Average Bristol Assessed Value
$252,378
Average Kendall County Assessed Value
$264,846
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bristol, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60512 | $159,439 | $210,738 | $252,378 | $349,773 | $504,806 |
Source: Ownwell
Property Tax Bills Across Bristol, Illinois
In Bristol, located in Kendall County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Bristol stands at $252,378. Local tax authorities apply a specific tax rate to this assessed value to determine the annual tax bill. Homeowners in Bristol can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $5,014, while at the 75th percentile, it rises to $9,477. At the 90th percentile, it can reach as high as $13,595. These tax bills are influenced by various factors, including the property's location within specific school districts, municipal services, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Bristol may find their tax rates to be relatively higher, impacting their overall housing costs. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their financial planning effectively.
Average Bristol Tax Bill
$6,562
Average Kendall County Tax Bill
$7,273
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Bristol, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60512 | $3,237 | $5,014 | $6,562 | $9,477 | $13,595 |
Source: Ownwell