La Moille, Illinois Property Taxes
The median property tax rate in La Moille, IL is 2.15%, 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 Moille, the typical annual property tax bill reaches $2,058, slightly below the national median of $2,690. Property taxes in La Moille 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 Moille'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 Moille or another part of Bureau County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
La Moille, 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 La Moille Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in La Moille with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in La Moille 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 La Moille, Illinois
Property taxes in La Moille, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in La Moille is 2.15%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within La Moille set these rates annually, and they can vary significantly across different neighborhoods. Each year, La Moille 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 Moille's effective property tax rate to other areas in Illinois and the national median. For comparison, the 61330 zip code has the highest median property tax rate of 2.15%, while the same zip code also has the lowest median tax rate of 2.15%. Understanding how these areas compare with La Moille 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 La Moille Tax Rate
2.15%
Average Bureau County Tax Rate
2.33%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Moille, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61330 | 1.35% | 1.78% | 2.15% | 2.38% | 2.79% |
Source: Ownwell
Property Tax Assessment Values Across La Moille, Illinois
In La Moille, 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 assessment 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. In La Moille, 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. The median home price in La Moille is $100,056, with tax bills ranging from $1,329 at the 25th percentile to $4,132 at the 90th percentile. The zip code 61330 has the highest median tax bill at $2,058. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage their tax burden.
Average La Moille Assessed Value
$100,056
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 La Moille, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61330 | $42,467 | $70,536 | $100,056 | $139,410 | $195,258 |
Source: Ownwell
Property Tax Bills Across La Moille, Illinois
In La Moille, IL, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The local tax rate is then applied to this assessed value. For homeowners in La Moille, the median home price is $100,056. Property taxes can vary significantly, with the 25th percentile tax bill at $1,329 and the 75th percentile at $3,150. At the 90th percentile, homeowners might see tax bills as high as $4,132. Several factors influence these tax bills, including the property's assessed value, the local tax rate, and any applicable exemptions. The local tax rate in Bureau County is higher than the national median property tax rate of 0.99%, which can result in higher tax bills for homeowners. These taxes fund essential community services such as schools, public safety, and infrastructure. Understanding how these factors interplay can help homeowners anticipate their property tax obligations and budget accordingly.
Average La Moille Tax Bill
$2,058
Average Bureau County Tax Bill
$2,024
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across La Moille, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61330 | $651 | $1,329 | $2,058 | $3,150 | $4,132 |
Source: Ownwell