Ontarioville, Illinois Property Taxes
The median property tax rate in Ontarioville, IL is 2.31%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Ontarioville, the typical annual property tax bill reaches $3,163, exceeding the national median of $2,690. Property taxes in Ontarioville 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 Ontarioville'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 Ontarioville 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
Ontarioville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$3,170
$2,941
Ownwell’s Ontarioville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ontarioville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ontarioville 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 Ontarioville, Illinois
Property taxes in Ontarioville, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ontarioville is 2.31%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Ontarioville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ontarioville 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 Ontarioville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60103 zip code has the highest median property tax rate of 2.31%, while the 60103 zip code also has the lowest median tax rate of 2.31%. Understanding how these cities compare with Ontarioville provides valuable insights into the varying tax landscape across DuPage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ontarioville Tax Rate
2.31%
Average Dupage County Tax Rate
2.22%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ontarioville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60103 | 2.04% | 2.14% | 2.31% | 2.67% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Ontarioville, Illinois
In Ontarioville, 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 DuPage 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 Ontarioville, 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 Ontarioville 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 $3,163 in zip code 60103.
Property Tax Assessment Values Across Ontarioville, Illinois
Source: Ownwell
$2,760
$1,600,770
$3,198,780
Average Ontarioville Assessed Value
$137,220
Average Dupage County Assessed Value
$319,350
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ontarioville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60103 | $47,004 | $80,835 | $137,220 | $169,245 | $188,460 |
Source: Ownwell
Property Tax Bills Across Ontarioville, Illinois
In Ontarioville, located in DuPage County, IL, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property location, size, and any applicable exemptions play a role in determining the final amount. For homeowners in Ontarioville, the median home price is $137,220, which gives a general sense of property values in the area. The tax bill can vary significantly, with the 25th percentile at $1,953 and the 75th percentile at $3,572. At the higher end, the 90th percentile tax bill reaches $3,817. These figures indicate that property taxes in Ontarioville can be a substantial financial consideration for homeowners, potentially impacting decisions related to homeownership and investment. Compared to the national median property tax rate of 0.99%, the tax rates in Ontarioville reflect the local economic and regulatory environment.
Average Ontarioville Tax Bill
$3,163
Average Dupage County Tax Bill
$7,313
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Ontarioville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60103 | $1,226 | $1,953 | $3,163 | $3,572 | $3,817 |
Source: Ownwell