Mendota, Illinois Property Taxes
The median property tax rate in Mendota, IL is 1.96%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Mendota at $231,492, the typical annual property tax bill reaches $4,412, exceeding the national median of $2,690. Property taxes in Mendota 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 Mendota'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 Mendota 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
Mendota, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$4,537
$4,210
Ownwell’s Mendota Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Mendota with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Mendota to project your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Mendota, Illinois
Property taxes in Mendota, Illinois, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mendota is 1.96%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Mendota set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mendota 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 Mendota's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61342 zip code has the highest median property tax rate of 1.96%, while the same zip code also has the lowest median tax rate of 1.96%. Understanding how these cities compare with Mendota 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 Mendota Tax Rate
1.96%
Average Bureau County Tax Rate
2.33%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mendota, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61342 | 1.72% | 1.88% | 1.96% | 2.14% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Mendota, Illinois
In Mendota, 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 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 Mendota, 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 25th percentile tax bill is $2,360, while the 75th percentile reaches $6,292, and the 90th percentile can go up to $9,350. The highest and lowest median tax bills are both $4,412, found in the 61342 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 Mendota Assessed Value
$231,492
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 Mendota, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61342 | $38,229 | $119,912 | $231,492 | $345,926 | $451,401 |
Source: Ownwell
Property Tax Bills Across Mendota, Illinois
In Mendota, located in Bureau County, IL, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate set by local taxing authorities. Various factors such as property size, location, and improvements can influence the assessed value. For homeowners, this means that higher market values or improvements to the property can lead to higher tax bills. The median home price in Mendota is $231,492, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $2,360, while the 75th percentile is $6,292, and the 90th percentile reaches up to $9,350. Compared to the national median property tax rate of 0.99%, Mendota's property tax bills reflect the local economic conditions and funding needs for public services. Homeowners should be aware of these factors as they can significantly impact annual expenses.
Average Mendota Tax Bill
$4,412
Average Bureau County Tax Bill
$2,024
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Mendota, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61342 | $734 | $2,360 | $4,412 | $6,292 | $9,350 |
Source: Ownwell