Findlay, Illinois Property Taxes
The median property tax rate in Findlay, IL is 2.44%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Findlay, the typical annual property tax bill reaches $3,359, exceeding the national median of $2,690. Property taxes in Findlay 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 Findlay'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 Findlay 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
Findlay, 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 Findlay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Findlay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Findlay 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 Findlay, Illinois
Property taxes in Findlay, Illinois, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Findlay is 2.44%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Findlay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Findlay 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 Findlay's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62534 has the highest median property tax rate of 2.44%, while the same zip code also has the lowest median tax rate of 2.44%. Understanding how these cities compare with Findlay provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Findlay Tax Rate
2.44%
Average Shelby County Tax Rate
2.20%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Findlay, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62534 | 1.83% | 2.14% | 2.44% | 2.63% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Findlay, Illinois
In Findlay, 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 Findlay, 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 Findlay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Findlay is $3,359 in zip code 62534, while the lowest median tax bill is also $3,359 in the same zip code.
Average Findlay Assessed Value
$135,168
Average Shelby County Assessed Value
$99,420
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Findlay, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62534 | $25,730 | $78,213 | $135,168 | $215,778 | $336,284 |
Source: Ownwell
Property Tax Bills Across Findlay, Illinois
In Findlay, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local assessor determines the assessed value, and then the property tax rate, set by local taxing authorities, is applied to this value. Various factors, such as the home's location, size, and improvements, influence the assessed value. For instance, in Shelby County, where Findlay is located, homeowners experience a range of property tax bills. The 25th percentile tax bill is $1,796, while the 75th percentile tax bill rises to $5,096, and at the 90th percentile, homeowners might pay as much as $8,131. These tax bills impact homeowners by influencing their total housing costs. Compared to the national median property tax rate of 0.99%, the rates in Findlay can vary significantly, affecting affordability and financial planning for residents. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their budgets more effectively.
Average Findlay Tax Bill
$3,359
Average Shelby County Tax Bill
$2,114
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Findlay, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62534 | $688 | $1,796 | $3,359 | $5,096 | $8,131 |
Source: Ownwell