Tucson, Illinois Property Taxes
The median property tax rate in Tucson, IL is 2.04%, considerably higher than both the national median of 0.99% and Illinois' state median of 2.35%. With the median home value in Tucson, the typical annual property tax bill reaches $54, exceeding the national median of $2,690. Property taxes in Tucson 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 Tucson'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 Tucson 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
Tucson, 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 Tucson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tucson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tucson 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 Tucson, Illinois
Property taxes in Tucson, Illinois, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Tucson is 2.04%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Tucson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tucson 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 Tucson's effective property tax rate to other counties in Illinois and the national median. For comparison, the highest median property tax rate in the county is 2.50%, while the lowest median tax rate is 1.75%. Understanding how these cities compare with Tucson 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 Tucson Tax Rate
2.04%
Average Dupage County Tax Rate
2.22%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tucson, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Tucson, Illinois
In Tucson, 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 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. Assessment notices in Tucson 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 Tucson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip codes with the highest and lowest tax bills are 60523 and 60559, respectively.
Average Tucson Assessed Value
$2,640
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 Tucson, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Tucson, Illinois
In Tucson, DuPage County, IL, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Various factors, such as the home's location, size, and condition, play a role in determining this value. For instance, a median home price in Tucson stands at $2,640, which serves as a basis for the assessment. The local tax rate, applied to the assessed value, is crucial in calculating the final tax bill. Homeowners in Tucson can expect their property tax bills to vary significantly, with the 25th, 75th, and 90th percentiles all seeing tax bills around $54. This uniformity suggests a relatively stable tax environment, though individual bills may differ based on specific property assessments. Compared to the national median property tax rate of 0.99%, Tucson homeowners might find their tax rates to be competitive. Understanding these elements helps homeowners anticipate their financial obligations and better manage their budgets.
Average Tucson Tax Bill
$54
Average Dupage County Tax Bill
$7,313
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Tucson, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell