Arlington, Illinois Property Taxes
The median property tax rate in Arlington, Illinois, is 2.22%, which is considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Arlington at $88,974, the typical annual property tax bill reaches $1,685, still exceeding the national median of $2,690. Property taxes in Arlington 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 Arlington'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 Arlington 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
Arlington, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.22%
Estimate Property Tax Bill
$1,975
$1,930
Ownwell’s Arlington Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Arlington with just two key data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Arlington to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed decisions. For those interested in more granular details, scroll down to explore neighborhood-specific trends. Your property’s assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Arlington, Illinois
Property taxes in Arlington, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arlington is 2.22%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Arlington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arlington 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 Arlington's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 61312 has the highest median property tax rate of 2.22%, while the same zip code also has the lowest median tax rate of 2.22%. Understanding how these cities compare with Arlington provides valuable insights into the varying tax landscape across Bureau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arlington Tax Rate
2.22%
Average Bureau County Tax Rate
2.33%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arlington, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61312 | 1.40% | 1.86% | 2.22% | 2.55% | 2.92% |
Source: Ownwell
Property Tax Assessment Values Across Arlington, Illinois
In Arlington, 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 Bureau County Assessor's Office 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. 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 Arlington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Arlington, the zip code 61312 has both the highest and lowest median tax bill, standing at $1,685.
Average Arlington Assessed Value
$88,974
Average Bureau County Assessed Value
$89,799
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arlington, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61312 | $22,415 | $45,806 | $88,974 | $128,121 | $182,730 |
Source: Ownwell
Property Tax Bills Across Arlington, Illinois
In Arlington, IL, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. Homeowners in Arlington can expect their tax bill to vary depending on where their property's value falls within the local spectrum. For example, the tax bill at the 25th percentile is approximately $932, while those at the 75th percentile can see tax bills around $3,028. At the higher end, the 90th percentile tax bill reaches up to $4,366. The median property tax rate in Arlington is notably higher than the national median of 0.99%, reflecting the region's specific valuation and taxation practices. These tax bills significantly impact homeowners, as they are a recurring annual expense that can influence overall housing affordability. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Arlington Tax Bill
$1,685
Average Bureau County Tax Bill
$2,024
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Arlington, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61312 | $355 | $932 | $1,685 | $3,028 | $4,366 |
Source: Ownwell