Plainville, Illinois Property Taxes
The median property tax rate in Plainville, IL is 2.37%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Plainville, the typical annual property tax bill reaches $1,713, exceeding the national median of $2,690. Property taxes in Plainville 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 Plainville'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 Plainville 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
Plainville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.37%
Estimate Property Tax Bill
$1,711
$1,672
Ownwell’s Plainville Property Tax Bill Calculator helps homeowners, real estate investors, and potential owners estimate their annual property taxes in Plainville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plainville 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 Plainville, Illinois
Property taxes in Plainville, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plainville is 2.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Plainville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plainville 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 Plainville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62365 zip code has the highest median property tax rate of 2.37%, while the same zip code also has the lowest median tax rate of 2.37%. Understanding how these cities compare with Plainville 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 Plainville Tax Rate
2.37%
Average Adams County Tax Rate
2.23%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plainville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62365 | 2.37% | 2.37% | 2.37% | 2.37% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across Plainville, Illinois
In Plainville, 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 Adams 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 Plainville, 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. The median home price in Plainville is $72,180, and the median tax bill is $1,713, consistent across various percentiles and zip codes, including 62365. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Plainville Assessed Value
$72,180
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 Plainville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62365 | $72,180 | $72,180 | $72,180 | $72,180 | $72,180 |
Source: Ownwell
Property Tax Bills Across Plainville, Illinois
In Plainville, Adams County, IL, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is applied to this assessed value to determine the final tax bill. Factors influencing the tax bill include the home's market value, the assessment ratio, and the local tax rate. For instance, the median home price in Plainville is $72,180, and the median tax bill is $1,713. This suggests a relatively high effective tax rate compared to the national median property tax rate of 0.99%. Homeowners in Plainville can expect their tax bills to be consistent, as the tax bill at the 25th, 75th, and 90th percentiles all stand at $1,713. This uniformity indicates a stable tax environment. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances accordingly. The property tax system ensures that local services and infrastructure are adequately funded, impacting the overall quality of life in the community.
Average Plainville Tax Bill
$1,713
Average Adams County Tax Bill
$1,937
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Plainville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62365 | $1,713 | $1,713 | $1,713 | $1,713 | $1,713 |
Source: Ownwell