Lawndale, Illinois Property Taxes
The median property tax rate in Lawndale, IL is 2.56%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Lawndale at $34,590, the typical annual property tax bill reaches $885, exceeding the national median of $2,690. Property taxes in Lawndale 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 Lawndale'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 Lawndale 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
Lawndale, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.56%
Estimate Property Tax Bill
$886
$865
Ownwell’s Lawndale Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lawndale with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lawndale to provide an estimated tax bill. This valuable tool helps you understand your potential tax liabilities, allowing for better financial planning. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Lawndale, Illinois
Property taxes in Lawndale, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lawndale is 2.56%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Lawndale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lawndale 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 Lawndale's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61751 zip code has the highest median property tax rate of 2.56%, while the same zip code also has the lowest median tax rate of 2.56%. Understanding how these cities compare with Lawndale provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lawndale Tax Rate
2.56%
Average Logan County Tax Rate
2.39%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lawndale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61751 | 2.56% | 2.56% | 2.56% | 2.56% | 2.56% |
Source: Ownwell
Property Tax Assessment Values Across Lawndale, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lawndale, Illinois. 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 Logan 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 Lawndale, 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 Lawndale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 61751 has both the highest and lowest median tax bill at $885. By understanding these factors, property owners can make informed decisions to potentially reduce their tax liabilities.
Average Lawndale Assessed Value
$34,590
Average Logan County Assessed Value
$165,735
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lawndale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61751 | $34,590 | $34,590 | $34,590 | $34,590 | $34,590 |
Source: Ownwell
Property Tax Bills Across Lawndale, Illinois
In Lawndale, Logan County, IL, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the home. For example, with a median home price of $34,590, the assessed value forms the basis for the tax calculation. The property tax rate in the area is then applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and local government budgets can influence the assessed value and, consequently, the tax bill. Homeowners in Lawndale can expect a median property tax bill of $885, which aligns with the 25th, 75th, and 90th percentiles, indicating a consistent tax rate across various property values. This tax bill is crucial for homeowners as it represents a significant annual expense and contributes to funding local services like schools, public safety, and infrastructure. Comparing this to the national median property tax rate of 0.99%, Lawndale's rate provides a relatively predictable tax environment for its residents.
Average Lawndale Tax Bill
$885
Average Logan County Tax Bill
$4,059
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Lawndale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61751 | $885 | $885 | $885 | $885 | $885 |
Source: Ownwell