Bluffs, Illinois Property Taxes
The median property tax rate in Bluffs, 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 Bluffs, the typical annual property tax bill reaches $3,205, surpassing the national median of $2,690. Property taxes in Bluffs 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 Bluffs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bluffs 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
Bluffs, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Bluffs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bluffs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bluffs 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 Bluffs, Illinois
Property taxes in Bluffs, Illinois, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Bluffs stands at 2.70%, which is significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Bluffs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bluffs 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 Bluffs' effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62621 has the highest median property tax rate of 2.70%, while the same zip code also has the lowest median tax rate of 2.70%. Understanding how these cities compare with Bluffs provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bluffs Tax Rate
2.70%
Average Scott County Tax Rate
2.41%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bluffs, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62621 | 2.70% | 2.70% | 2.70% | 2.70% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Bluffs, Illinois
In Bluffs, 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 Scott 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 Bluffs, 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. The median home price in Bluffs is $14,997, with tax bills ranging from $1,714 at the 25th percentile to $5,591 at the 90th percentile. The highest and lowest median tax bills both stand at $3,205 in the 62621 zip code. 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 Bluffs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bluffs Assessed Value
$14,997
Average Scott County Assessed Value
$61,058
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bluffs, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62621 | $9,607 | $11,628 | $14,997 | $122,178 | $186,487 |
Source: Ownwell
Property Tax Bills Across Bluffs, Illinois
In Bluffs, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Various factors influence this assessed value, including the property's location, size, and condition. Once the assessed value is established, the tax rate set by Scott County is applied to calculate the annual tax bill. For homeowners in Bluffs, the property tax rate is a crucial factor. With the national median property tax rate at 0.99%, Bluffs' tax rate can significantly impact the financial burden on homeowners. For instance, homes in the 25th percentile see tax bills around $1,714, while those in the 75th percentile face bills up to $4,696. The highest median tax bill in the area is $3,205, found in zip code 62621. These tax bills fund essential local services like schools, public safety, and infrastructure, directly affecting the quality of life for residents.
Average Bluffs Tax Bill
$3,205
Average Scott County Tax Bill
$1,367
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Bluffs, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62621 | $819 | $1,714 | $3,205 | $4,696 | $5,591 |
Source: Ownwell