Arthur, Illinois Property Taxes
The median property tax rate in Arthur, IL is 2.09%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Arthur at $129,675, the typical annual property tax bill reaches $2,675, just below the national median of $2,690. Property taxes in Arthur 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 Arthur’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 Arthur or another part of Douglas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arthur, 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 Arthur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arthur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arthur 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 Arthur, Illinois
Property taxes in Arthur, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arthur is 2.09%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Arthur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arthur 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 Arthur's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61911 zip code has the highest median property tax rate of 2.09%, while the same zip code also reflects the lowest median tax rate of 2.09%. Understanding how these cities compare with Arthur provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arthur Tax Rate
2.09%
Average Douglas County Tax Rate
2.16%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arthur, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61911 | 1.43% | 1.87% | 2.09% | 2.33% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across Arthur, Illinois
In Arthur, 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 Douglas 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 Arthur, 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 Arthur is $129,675, with tax bills ranging significantly. For example, the 25th percentile tax bill is $1,739, while the 75th percentile tax bill is $4,314. The highest median tax bill is $2,675 in the 61911 zip code. Being aware of these valuation processes in Arthur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Arthur Assessed Value
$129,675
Average Douglas County Assessed Value
$101,652
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arthur, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61911 | $59,031 | $88,446 | $129,675 | $192,459 | $284,261 |
Source: Ownwell
Property Tax Bills Across Arthur, Illinois
Property tax bills in Arthur, located in Douglas County, IL, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Various factors influence the assessed value, including the property's location, size, and condition. For instance, the median home price in Arthur is $129,675. Homeowners in Arthur see a range of property tax bills. The 25th percentile tax bill is $1,739, while the 75th percentile reaches $4,314. At the higher end, the 90th percentile tax bill can be as much as $6,548. These figures highlight the variability in property tax burdens depending on individual property assessments. Comparatively, the national median property tax rate is 0.99%, making Arthur’s property taxes relatively moderate. For homeowners, understanding these factors and how they influence their tax bills is crucial for financial planning and property management.
Average Arthur Tax Bill
$2,675
Average Douglas County Tax Bill
$2,157
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Arthur, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61911 | $982 | $1,739 | $2,675 | $4,314 | $6,548 |
Source: Ownwell