Elliott, Ford County, Illinois Property Taxes
Median ELLIOTT, IL effective property tax rate: 2.28%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median ELLIOTT, IL home value: $64,350
Median annual ELLIOTT, IL tax bill: $1,370, $1,030 lower than the national median property tax bill of $2,400.
How are property taxes in Ford calculated?
Property taxes in ELLIOTT, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding ELLIOTT’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in ELLIOTT, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Elliott, Ford County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.28%
Estimate Property Tax Bill
$1,467
$1,362
Property Tax Rates Across Elliott, Ford County, Illinois
Local government entities set tax rates, which can vary widely within a state. This variation occurs because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
In Elliott, located in Ford County, Illinois, the effective property tax rate stands out when compared to other cities in the state. The median property tax rate here is significantly higher than the national median of 1.02%. This means that property owners in Elliott may find themselves contributing more in taxes compared to the national average. Understanding these rates is crucial for property owners looking to manage their expenses effectively. Whether you are a homeowner or an investor, knowing how your property taxes compare can provide valuable insights into your financial planning.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Elliott Tax Rate
2.28%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Ford County Tax Rate
2.52%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Elliott, Ford County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60933 | 1.23% | 1.82% | 2.28% | 2.60% | 3.05% |
Source: Ownwell
Property Tax Assessment Values Across Elliott, Ford County, Illinois
When examining property taxes in Elliott, Illinois, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Ford County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Ford County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Elliott. For example, the median home price in Elliott is $64,350, with tax bills ranging significantly across the county. Zip code 60933 has the highest median home price at $64,350.
Property Tax Assessment Values Across Elliott, Ford County, Illinois
Source: Ownwell
$34,920
$115,628
$196,335
Median Elliott Market Value
$64,350
Median Ford County Market Value
$93,960
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Elliott, Ford County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60933 | $20,184 | $40,440 | $64,350 | $92,280 | $111,168 |
Source: Ownwell
Property Tax Bills Across Elliott, Ford County, Illinois
Median Elliott Tax Bill
$1,370
Median Ford County Tax Bill
$2,272
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Elliott, Ford County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60933 | $203 | $699 | $1,370 | $2,022 | $2,707 |
Source: Ownwell