Delong, Illinois Property Taxes
The median property tax rate in Delong, IL is 1.93%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Delong, the typical annual property tax bill reaches $748, which is lower than the national median of $2,690. Property taxes in Delong are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Delong'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 Delong or another part of Knox County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Delong, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.93%
Estimate Property Tax Bill
$807
$788
Ownwell’s DELONG Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DELONG with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DELONG 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 Delong, Illinois
Property taxes in Delong, Illinois, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Delong is 1.93%, significantly higher than the U.S. national median of 0.99%. Local government entities within Delong set these rates annually, and they can vary significantly across different neighborhoods. Each year, Delong 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 Delong's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61436 zip code has the highest median property tax rate of 1.93%, while the 61436 zip code also has the lowest median tax rate of 1.93%. Understanding how these cities compare with Delong provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delong Tax Rate
1.93%
Average Knox County Tax Rate
2.31%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delong, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61436 | 1.03% | 1.56% | 1.93% | 2.57% | 2.57% |
Source: Ownwell
Property Tax Assessment Values Across Delong, Illinois
In Delong, 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 Knox 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 Delong, 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. For instance, the median home price in Delong is $41,790, with tax bills ranging from $446 at the 25th percentile to $1,384 at the 90th percentile. The zip code 61436 has the highest median tax bill at $748. 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 Delong helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Delong Assessed Value
$41,790
Average Knox County Assessed Value
$78,330
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delong, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61436 | $18,948 | $29,760 | $41,790 | $52,770 | $65,112 |
Source: Ownwell
Property Tax Bills Across Delong, Illinois
In Delong, located in Knox County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Various factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Delong is $41,790, and property tax bills can vary significantly within the area. Homeowners in the 25th percentile pay around $446 annually, while those in the 75th percentile face tax bills of approximately $1,021. At the 90th percentile, the tax bill can reach up to $1,384. These variations highlight how property assessments and tax rates impact homeowners differently. With the national median property tax rate at 0.99%, Delong's property taxes can be seen as relatively moderate, but still a crucial factor for homeowners to consider in their financial planning.
Average Delong Tax Bill
$748
Average Knox County Tax Bill
$1,699
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Delong, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61436 | $261 | $446 | $748 | $1,021 | $1,384 |
Source: Ownwell