Paris, Illinois Property Taxes
The median property tax rate in Paris, IL is 2.19%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Paris being $82,485, the typical annual property tax bill reaches $1,813, which is below the national median of $2,690. Property taxes in Paris 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 Paris'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 Paris 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
Paris, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.19%
Estimate Property Tax Bill
$1,806
$1,676
Ownwell’s Paris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paris 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 Paris, Illinois
Property taxes in Paris, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paris is 2.19%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Paris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paris 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 Paris's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 61944 has the highest median property tax rate of 2.19%, while the same zip code also has the lowest median tax rate of 2.19%. Understanding how these areas compare with Paris provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paris Tax Rate
2.19%
Average Clark County Tax Rate
2.09%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paris, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61944 | 1.40% | 1.83% | 2.19% | 2.33% | 2.47% |
Source: Ownwell
Property Tax Assessment Values Across Paris, Illinois
In Paris, 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 17023 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. 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 Paris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Paris, the zip code with the highest median tax bill is 61944, with a tax bill of $1,813. The lowest median tax bill is also found in zip code 61944, indicating a uniform tax landscape within the city.
Average Paris Assessed Value
$82,485
Average Clark County Assessed Value
$71,601
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paris, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61944 | $37,693 | $50,268 | $82,485 | $96,568 | $178,092 |
Source: Ownwell
Property Tax Bills Across Paris, Illinois
In Paris, located in Clark County, IL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value typically represents a percentage of the home's market value, which is then multiplied by the tax rate set by local taxing authorities. For example, with a median home price of $82,485, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable exemptions. Factors such as location, property size, and improvements can influence the assessed value, thus affecting the tax bill. In Paris, the tax bill for the 25th percentile is $865, while those in the 75th percentile pay around $2,141. For the top 10% of properties, tax bills can reach up to $3,594. These figures show the significant range in tax liabilities. Comparatively, with the national median property tax rate at 0.99%, homeowners in Paris may find their tax rates and bills to be fairly aligned with national averages, depending on individual circumstances.
Average Paris Tax Bill
$1,813
Average Clark County Tax Bill
$1,431
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Paris, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61944 | $722 | $865 | $1,813 | $2,141 | $3,594 |
Source: Ownwell