Pleasant Plains, Illinois Property Taxes
The median property tax rate in Pleasant Plains, IL is 2.70%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Pleasant Plains at $443,850, the typical annual property tax bill reaches $11,970, far exceeding the national median of $2,690. Property taxes in Pleasant Plains 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 Pleasant Plains' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Pleasant Plains 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
Pleasant Plains, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.7%
Estimate Property Tax Bill
$11,984
$11,710
Ownwell’s Pleasant Plains Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pleasant Plains with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pleasant Plains 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 Pleasant Plains, Illinois
Property taxes in Pleasant Plains, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pleasant Plains is 2.70%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Pleasant Plains set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pleasant Plains 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 Pleasant Plains' effective property tax rate to other counties in Illinois and the national median. For comparison, the 62677 zip code has the highest median property tax rate of 2.70%, while the same 62677 zip code also has the lowest median tax rate of 2.70%. Understanding how these areas compare with Pleasant Plains provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pleasant Plains Tax Rate
2.70%
Average Morgan County Tax Rate
3.18%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pleasant Plains, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62677 | 2.70% | 2.70% | 2.70% | 2.70% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Pleasant Plains, Illinois
In Pleasant Plains, 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 local 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 Pleasant Plains, 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 Pleasant Plains helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $11,970, found in the 62677 zip code.
Property Tax Assessment Values Across Pleasant Plains, Illinois
Source: Ownwell
$1,620
$222,735
$443,850
Average Pleasant Plains Assessed Value
$443,850
Average Morgan County Assessed Value
$54,570
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pleasant Plains, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62677 | $443,850 | $443,850 | $443,850 | $443,850 | $443,850 |
Source: Ownwell
Property Tax Bills Across Pleasant Plains, Illinois
In Pleasant Plains, located in Morgan County, IL, property tax bills are determined by multiplying the assessed value of a home 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 influence the assessed value, including the property's size, location, and condition. For homeowners in Pleasant Plains, property tax bills can significantly impact annual expenses. The median home price in the area is $443,850, and tax bills can reach up to $11,970, which is notably higher than the national median property tax rate of 0.99%. This elevated tax bill can place a considerable financial burden on homeowners, particularly when compared to other regions. Understanding how these taxes are calculated and the factors influencing them is crucial for homeowners looking to manage their expenses effectively.
Average Pleasant Plains Tax Bill
$11,970
Average Morgan County Tax Bill
$1,473
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Pleasant Plains, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62677 | $11,970 | $11,970 | $11,970 | $11,970 | $11,970 |
Source: Ownwell