Trenton, Illinois Property Taxes
The median property tax rate in Trenton, IL is 2.43%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Trenton at $155,810, the typical annual property tax bill reaches $3,677, exceeding the national median of $2,690. Property taxes in Trenton 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 Trenton'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 Trenton 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
Trenton, 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 TRENTON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TRENTON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TRENTON 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 Trenton, Illinois
Property taxes in Trenton, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trenton is 2.43%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Trenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trenton 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 Trenton's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62293 has the highest median property tax rate of 2.43%, while the same zip code also has the lowest median tax rate of 2.43%. Understanding how these cities compare with Trenton provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trenton Tax Rate
2.43%
Average St. Clair County Tax Rate
2.55%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trenton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62293 | 1.95% | 2.22% | 2.43% | 2.73% | 2.77% |
Source: Ownwell
Property Tax Assessment Values Across Trenton, Illinois
In Trenton, 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 St. Clair 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 Trenton, 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. Trenton's median home price is $155,810, with tax bills ranging from $2,340 at the 25th percentile to $7,509 at the 90th percentile. 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 Trenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Trenton Assessed Value
$155,810
Average St. Clair County Assessed Value
$110,946
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trenton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62293 | $62,809 | $103,874 | $155,810 | $222,260 | $297,710 |
Source: Ownwell
Property Tax Bills Across Trenton, Illinois
In Trenton, Illinois, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is a percentage of the property's market value. Homeowners in St. Clair County, where Trenton is located, face varying tax bills depending on the value of their property and the local tax rate. The national median property tax rate is 0.99%, but local rates can differ, impacting the final tax bill significantly. For instance, in Trenton, the median home price is $155,810. Tax bills can range widely, with the 25th percentile at $2,340 and the 75th percentile at $5,282. At the 90th percentile, tax bills can soar to $7,509. The highest and lowest median tax bills in the area both stand at $3,677, reflecting the specific zip code of 62293. These property taxes fund essential local services such as schools, infrastructure, and public safety, directly affecting homeowners by contributing to community quality and property value stability.
Average Trenton Tax Bill
$3,677
Average St. Clair County Tax Bill
$2,735
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Trenton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62293 | $1,147 | $2,340 | $3,677 | $5,282 | $7,509 |
Source: Ownwell