Seatonville, Illinois Property Taxes
The median property tax rate in Seatonville, 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 Seatonville, the typical annual property tax bill reaches $1,609, exceeding the national median of $2,690. Property taxes in Seatonville 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 Seatonville'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 Seatonville 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
Seatonville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.37%
Estimate Property Tax Bill
$1,799
$1,669
Ownwell’s Seatonville Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Seatonville, Bureau County, IL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seatonville to provide an estimated property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed information, scrolling down reveals neighborhood-level trends. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Seatonville, Illinois
Property taxes in Seatonville, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seatonville is 2.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Seatonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seatonville 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 Seatonville's effective property tax rate to other areas in Illinois and the national median. For comparison, the 61359 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 areas compare with Seatonville 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 Seatonville Tax Rate
2.37%
Average Bureau County Tax Rate
2.33%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seatonville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61359 | 1.10% | 1.78% | 2.37% | 2.82% | 3.29% |
Source: Ownwell
Property Tax Assessment Values Across Seatonville, Illinois
In Seatonville, 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 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 Seatonville, 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 Seatonville is $75,888, with tax bills ranging from $839 at the 25th percentile to $4,622 at the 90th percentile. The zip code 61359 has the highest median tax bill at $1,609. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Seatonville Assessed Value
$75,888
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 Seatonville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61359 | $27,751 | $45,512 | $75,888 | $116,469 | $161,743 |
Source: Ownwell
Property Tax Bills Across Seatonville, Illinois
In Seatonville, located in Bureau County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is a percentage of the property's market value. Homeowners in Seatonville face a median property tax rate that aligns closely with the national median of 0.99%. For example, with a median home price of $75,888, property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $839 annually, while at the 75th percentile, the tax bill can rise to approximately $2,925. The 90th percentile sees even higher tax bills, reaching up to $4,622. These figures illustrate the variability in property tax obligations, which are influenced by factors such as property value and local tax rates. Understanding these elements helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Seatonville Tax Bill
$1,609
Average Bureau County Tax Bill
$2,024
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Seatonville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61359 | $353 | $839 | $1,609 | $2,925 | $4,622 |
Source: Ownwell