Clinton, Illinois Property Taxes
The median property tax rate in Clinton, IL is 1.89%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Clinton, the typical annual property tax bill reaches $3,183, exceeding the national median of $2,690. Property taxes in Clinton 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 Clinton'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 Clinton 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
Clinton, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.89%
Estimate Property Tax Bill
$2,751
$2,688
Ownwell’s Clinton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clinton 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 Clinton, Illinois
Property taxes in Clinton, Illinois, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Clinton is 1.89%, significantly higher than the U.S. national median of 0.99%. Local government entities within Clinton set these rates annually, and they can vary across different neighborhoods. Each year, Clinton 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 Clinton's effective property tax rate to other areas in Illinois and the national median. For comparison, the 61727 zip code has the highest median property tax rate of 1.89%, while the same zip code also has the lowest median tax rate of 1.89%. Understanding how these rates compare with Clinton provides valuable insights into the varying tax landscape across De Witt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clinton Tax Rate
1.89%
Average De Witt County Tax Rate
2.10%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clinton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61727 | 1.53% | 1.71% | 1.89% | 2.71% | 3.58% |
Source: Ownwell
Property Tax Assessment Values Across Clinton, Illinois
In Clinton, 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 De Witt 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 Clinton, 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 Clinton is $145,538, with tax bills ranging from $1,997 at the 25th percentile to $6,950 at the 90th percentile. The zip code 61727 has both the highest and lowest median tax bill at $3,183. Being aware of these valuation processes in Clinton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clinton Assessed Value
$145,538
Average De Witt County Assessed Value
$142,472
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clinton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61727 | $53,454 | $98,696 | $145,538 | $241,157 | $332,871 |
Source: Ownwell
Property Tax Bills Across Clinton, Illinois
In Clinton, De Witt County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value of the property, which is determined by the county assessor. Various factors such as property improvements, neighborhood conditions, and recent sales of comparable properties influence this market value. For homeowners in Clinton, the property tax bill can vary significantly. At the 25th percentile, homeowners might pay around $1,997 annually, while those at the 75th percentile could see bills as high as $5,002. The top 10% of homeowners face even steeper bills, with amounts reaching up to $6,950. The median home price in Clinton is $145,538, and compared to the national median property tax rate of 0.99%, Clinton's rates can appear relatively high. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life and community resources available to residents.
Average Clinton Tax Bill
$3,183
Average De Witt County Tax Bill
$3,614
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Clinton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61727 | $1,161 | $1,997 | $3,183 | $5,002 | $6,950 |
Source: Ownwell