Loda, Ford County, Illinois Property Taxes
Median Loda, IL effective property tax rate: 2.87%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Loda, IL home value: $138,225. Median annual Loda, IL tax bill: $3,944, $1,544 higher than the national median property tax bill of $2,400.
How are property taxes in Ford County calculated?
Property taxes in Loda, 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 Loda’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Loda, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Loda, Ford County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.87%
Estimate Property Tax Bill
$3,967
$3,681
Ownwell’s Loda Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Loda with just two data points.
By entering your property's estimated assessed value, our calculator applies Loda’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Ford County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Loda, Ford County, Illinois
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 Loda Tax Rate
2.87%
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 Loda, Ford County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60948 | 2.42% | 2.60% | 2.87% | 3.15% | 3.27% |
Source: Ownwell
Property Tax Assessment Values Across Loda, Ford County, Illinois
When examining property taxes in Loda, 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 Loda.
For example, the median home price in Loda is $138,225, with tax bills ranging significantly across the county. Zip code 60948 has the highest median home price at $138,225.
Property Tax Assessment Values Across Loda, Ford County, Illinois
Source: Ownwell
$34,920
$115,628
$196,335
Median Loda Market Value
$138,225
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 Loda, Ford County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60948 | $88,260 | $101,985 | $138,225 | $209,198 | $290,910 |
Source: Ownwell
Property Tax Bills Across Loda, Ford County, Illinois
In Loda, located in Ford County, IL, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. Factors such as location, property size, and improvements influence this assessed value. Homeowners in Loda experience a median property tax bill of $3,944, notably higher than the national median of $2,400. This can pose a significant financial burden, especially for those with bills reaching up to the 90th percentile at $9,005.
Ownwell steps in to assist homeowners by offering property tax appeal services, potentially reducing this financial strain. Our team analyzes your property’s assessed value, compares it with similar properties, and identifies discrepancies that could lead to overvaluation. By appealing your property tax assessment, we can help ensure you’re not overpaying. This service not only provides peace of mind but also results in tangible savings, allowing homeowners in Loda to better manage their expenses.
Median Loda Tax Bill
$3,944
Median Ford County Tax Bill
$2,272
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Loda, Ford County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60948 | $2,154 | $2,950 | $3,944 | $5,811 | $9,005 |
Source: Ownwell