La Prairie, Illinois Property Taxes
The median property tax rate in LA PRAIRIE, IL is 1.77%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in LA PRAIRIE, the typical annual property tax bill reaches $3,815, exceeding the national median of $2,690. Property taxes in LA PRAIRIE 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 LA PRAIRIE'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 LA PRAIRIE 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
La Prairie, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$3,681
$3,416
Ownwell’s LA PRAIRIE Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential buyers in estimating their annual property taxes with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in LA PRAIRIE to provide an estimate of your property tax bill. This valuable tool helps you gain a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across La Prairie, Illinois
Property taxes in LA PRAIRIE, Illinois, are essential in funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in LA PRAIRIE is 1.77%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within LA PRAIRIE set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA PRAIRIE 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 LA PRAIRIE's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62346 has the highest median property tax rate of 1.77%, while also having the lowest median tax rate of 1.77%. Understanding how these cities compare with LA PRAIRIE provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Prairie Tax Rate
1.77%
Average Adams County Tax Rate
2.23%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Prairie, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62346 | 1.65% | 1.70% | 1.77% | 1.84% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across La Prairie, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in La Prairie, 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 Adams 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. 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. For instance, the median home price in La Prairie is $207,990, with tax bills ranging from $2,853 at the 25th percentile to $5,353 at the 90th percentile. The highest and lowest median tax bill, both at $3,815, are found in the 62346 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average La Prairie Assessed Value
$207,990
Average Adams County Assessed Value
$88,290
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Prairie, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62346 | $134,934 | $162,330 | $207,990 | $253,650 | $281,046 |
Source: Ownwell
Property Tax Bills Across La Prairie, Illinois
In La Prairie, Adams County, IL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in La Prairie is $207,990. Property taxes are influenced by various factors, including the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in La Prairie can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $2,853, while the 75th percentile tax bill reaches up to $4,776, and the 90th percentile tax bill is about $5,353. Compared to the national median property tax rate of 0.99%, La Prairie's tax rates can result in higher tax bills. This variation in tax bills affects homeowners by impacting their annual housing costs, potentially influencing decisions on home ownership and property investments. Understanding these factors is crucial for homeowners to budget effectively and take advantage of any exemptions or appeals available to them.
Average La Prairie Tax Bill
$3,815
Average Adams County Tax Bill
$1,937
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across La Prairie, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62346 | $2,276 | $2,853 | $3,815 | $4,776 | $5,353 |
Source: Ownwell