Baldwin, Illinois Property Taxes
The median property tax rate in Baldwin, IL is 1.88%, considerably higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With the median home value in Baldwin at $40,710, the typical annual property tax bill reaches $528, significantly below the national median of $2,690. Property taxes in Baldwin 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 Baldwin'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 Baldwin 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
Baldwin, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.88%
Estimate Property Tax Bill
$765
$748
Ownwell’s Baldwin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baldwin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baldwin 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 Baldwin, Illinois
Property taxes in Baldwin, Illinois, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Baldwin is 1.88%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Baldwin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baldwin 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 Baldwin's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62217 has the highest median property tax rate of 1.88%, while the same zip code also has the lowest median tax rate of 1.88%. Understanding how these cities compare with Baldwin provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baldwin Tax Rate
1.88%
Average Randolph County Tax Rate
2.00%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baldwin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62217 | 1.59% | 1.88% | 1.88% | 2.12% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Baldwin, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Baldwin, 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 Randolph County Assessor 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 Baldwin, 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 Baldwin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Baldwin is $528.00 in the 62217 zip code, while the lowest median tax bill is also $528.00 in the same zip code.
Average Baldwin Assessed Value
$40,710
Average Randolph County Assessed Value
$47,528
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baldwin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62217 | $5,784 | $6,064 | $40,710 | $88,192 | $122,102 |
Source: Ownwell
Property Tax Bills Across Baldwin, Illinois
In Baldwin, located in Randolph County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is a percentage of the market value of the property. The tax bill is then derived by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including the property's location, the specific tax rate set by local taxing authorities, and any applicable exemptions or deductions. For homeowners in Baldwin, the impact of property taxes can vary widely. The median home price in the area is $40,710, with property tax bills ranging from $112 at the 25th percentile to $2,290 at the 90th percentile. The highest median tax bill in the area is $528.00, which is significantly lower than the national median property tax rate of 0.99%. These variations highlight the importance of understanding local tax rates and assessed values, as they directly affect homeowners' annual expenses.
Average Baldwin Tax Bill
$528
Average Randolph County Tax Bill
$1,100
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Baldwin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62217 | $98 | $112 | $528 | $1,715 | $2,290 |
Source: Ownwell