West York, Illinois Property Taxes
The median property tax rate in West York, IL is 2.13%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in West York, the typical annual property tax bill reaches $1,155, exceeding the national median of $2,690. Property taxes in West York 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 West York'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 West York 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
West York, 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 West York Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West York with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West York 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 West York, Illinois
Property taxes in West York, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West York is 2.13%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within West York set these rates annually, and they can vary significantly across different neighborhoods. Each year, West York 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 West York's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62478 zip code has the highest median property tax rate of 2.13%, while the same zip code also has the lowest median tax rate of 2.13%. Understanding how these cities compare with West York 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 West York Tax Rate
2.13%
Average Clark County Tax Rate
2.09%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across West York, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62478 | 1.48% | 1.77% | 2.13% | 2.45% | 2.69% |
Source: Ownwell
Property Tax Assessment Values Across West York, Illinois
In West York, 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 Clark 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 West York, 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 median home price in West York is $57,166, with the 25th percentile tax bill at $712 and the 75th percentile tax bill at $2,160. The highest median tax bill is $1,155, found in zip code 62478. 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 West York helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average West York Assessed Value
$57,166
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 West York, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62478 | $14,623 | $34,922 | $57,166 | $101,026 | $124,532 |
Source: Ownwell
Property Tax Bills Across West York, Illinois
Property tax bills in West York, Clark County, IL, are determined by assessing the value of a property and applying the local tax rate to that assessed value. The median home price in West York is $57,166. Property taxes are influenced by various factors, including the property's assessed value, local tax rates, and any applicable exemptions. For example, tax bills in West York can range significantly, with the 25th percentile tax bill at $712 and the 90th percentile reaching up to $2,714. Homeowners in West York can expect their property tax bills to fall within this range, depending on the specific characteristics and assessed value of their property. Comparatively, the median property tax rate in West York is in line with the national median rate of 0.99%. These tax bills play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average West York Tax Bill
$1,155
Average Clark County Tax Bill
$1,431
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across West York, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62478 | $293 | $712 | $1,155 | $2,160 | $2,714 |
Source: Ownwell