Boulder, Illinois Property Taxes
The median property tax rate in Boulder, IL is 2.08%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Boulder, the typical annual property tax bill reaches $791, which is significantly lower than the national median of $2,690. Property taxes in Boulder 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 Boulder’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 Boulder 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
Boulder, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$777
$759
Ownwell’s Boulder Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boulder with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boulder 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 Boulder, Illinois
Property taxes in Boulder, Illinois, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Boulder is 2.08%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Boulder set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boulder 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 Boulder's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62231 zip code has the highest median property tax rate of 2.08%, while the same zip code also has the lowest median tax rate of 2.08%. Understanding how these cities compare with Boulder provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boulder Tax Rate
2.08%
Average Clinton County Tax Rate
2.02%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boulder, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62231 | 2.08% | 2.08% | 2.08% | 2.08% | 2.94% |
Source: Ownwell
Property Tax Assessment Values Across Boulder, Illinois
In Boulder, 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 Clinton County Assessor's 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 Boulder, 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 Boulder helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $791 in zip code 62231, while the lowest median tax bill is also $791 in the same zip code.
Average Boulder Assessed Value
$37,368
Average Clinton County Assessed Value
$140,970
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boulder, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62231 | $5,820 | $13,785 | $37,368 | $81,375 | $91,161 |
Source: Ownwell
Property Tax Bills Across Boulder, Illinois
In Boulder, Clinton County, IL, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. Homeowners can expect their tax bills to vary significantly depending on the specific valuation of their property. For instance, properties at the 25th percentile have a tax bill around $287, while those at the 75th percentile see bills closer to $1,692. At the 90th percentile, tax bills can reach up to $2,653. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions. The median home price in Boulder is $37,368, which provides a baseline for understanding these tax calculations. Comparing this to the national median property tax rate of 0.99%, Boulder residents generally face lower tax burdens. However, the impact on homeowners can still be substantial, especially for those with properties at the higher end of the assessed value spectrum.
Average Boulder Tax Bill
$791
Average Clinton County Tax Bill
$2,760
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Boulder, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62231 | $121 | $287 | $791 | $1,692 | $2,653 |
Source: Ownwell