Rossville, Illinois Property Taxes
The median property tax rate in Rossville, IL is 2.51%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Rossville at $77,194, the typical annual property tax bill reaches $1,650, still falling below the national median of $2,690. Property taxes in Rossville 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 Rossville'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 Rossville 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
Rossville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$1,938
$1,893
Ownwell’s Rossville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rossville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rossville 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 Rossville, Illinois
Property taxes in Rossville, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rossville is 2.51%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Rossville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rossville 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 Rossville's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 60963 has the highest median property tax rate of 2.51%, while the same zip code also has the lowest median tax rate of 2.51%. Understanding how these cities compare with Rossville provides valuable insights into the varying tax landscape across Vermilion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rossville Tax Rate
2.51%
Average Vermilion County Tax Rate
2.53%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rossville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60963 | 1.25% | 1.98% | 2.51% | 2.93% | 3.05% |
Source: Ownwell
Property Tax Assessment Values Across Rossville, Illinois
In Rossville, 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 Vermilion 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 Rossville, 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 Rossville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rossville is $77,194, with the 25th percentile tax bill at $839 and the 75th percentile at $2,944. The highest and lowest median tax bill is $1,650 in the 60963 zip code.
Average Rossville Assessed Value
$77,194
Average Vermilion County Assessed Value
$59,223
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rossville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60963 | $23,578 | $45,566 | $77,194 | $116,459 | $177,398 |
Source: Ownwell
Property Tax Bills Across Rossville, Illinois
In Rossville, located in Vermilion County, IL, property tax bills are calculated based on the assessed value of a home and 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 such as property size, location, and improvements can influence this assessed value. Homeowners in Rossville pay property taxes that range significantly. For example, the 25th percentile tax bill is around $839, while the 75th percentile reaches $2,944, and the 90th percentile can be as high as $4,741. These figures illustrate the variability in tax burdens across different properties. The median home price in Rossville is $77,194, which helps contextualize these tax amounts. Comparatively, with a national median property tax rate of 0.99%, Rossville's property tax rates can be considered moderate but can still impact homeowners differently depending on their property's assessed value. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and plan their finances accordingly.
Average Rossville Tax Bill
$1,650
Average Vermilion County Tax Bill
$1,325
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Rossville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60963 | $416 | $839 | $1,650 | $2,944 | $4,741 |
Source: Ownwell