Royalton, Franklin County, Illinois Property Taxes

Name: Property Tax Bills Across Royalton, Franklin County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Royalton, IL effective property tax rate: 1.91%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Royalton, IL home value: $68,055
Median annual Royalton, IL tax bill: $1,332, $1,068 lower than the national median property tax bill of $2,400.

How are property taxes in Franklin calculated?

Property taxes in Royalton, 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 Royalton’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Royalton, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Royalton, Franklin County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.91%

Estimate Property Tax Bill

$1,300

$1,206

Ownwell’s Royalton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Royalton with just two data points. By entering your property's estimated assessed value, our calculator applies Royalton’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 Franklin County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Royalton, Franklin County, Illinois

Local government entities set tax rates, which can vary widely within a state. This variation occurs because 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 there are votes and laws involved in setting tax rates and budgets, this is the annual process. In Royalton, located in Franklin County, Illinois, the effective property tax rate is a reflection of these local calculations. The median property tax rate in Illinois is higher than the national median of 1.02%, highlighting the state's reliance on property taxes for funding local services. Royalton’s rate aligns with the median rate in Illinois, showing consistency within the county. When compared to other cities in Illinois, Royalton maintains a competitive stance. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively.

Property Tax Rates Across Royalton, Franklin County, Illinois

Source: Ownwell

1.91%

2.49%

3.07%

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 Royalton Tax Rate

1.91%

Median Effective Franklin County Tax Rate

2.37%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Royalton, Franklin County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62983	0.72%	1.61%	1.91%	2.25%	2.43%

Source: Ownwell

Property Tax Assessment Values Across Royalton, Franklin County, Illinois

When examining property taxes in Royalton, IL, 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 Franklin 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 Franklin 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 Royalton. For example, the median home price in Royalton is $68,055, with tax bills ranging significantly across the county. Zip code 62983 has the highest median home price at $68,055.

Property Tax Assessment Values Across Royalton, Franklin County, Illinois

Source: Ownwell

$17,325

$57,900

$98,475

Median Royalton Market Value

$68,055

Median Franklin County Market Value

$55,530

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Royalton, Franklin County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62983	$12,908	$35,486	$68,055	$123,292	$198,338

Source: Ownwell

Property Tax Bills Across Royalton, Franklin County, Illinois

In Royalton, located in Franklin County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and changes in local tax levies can influence the assessed value and, consequently, the tax bill. The median home price in Royalton is $68,055, with property tax bills ranging from $611 at the 25th percentile to $3,982 at the 90th percentile. Compared to the national median property tax bill of $2,400, Royalton homeowners experience a varied range of tax obligations.

Ownwell offers expertise in property tax appeals and exemption services, helping homeowners potentially reduce their tax bills. By analyzing individual property assessments and comparing them to similar properties, Ownwell identifies discrepancies and advocates for fair tax rates. This personalized approach can lead to significant savings, ensuring that homeowners only pay their fair share.

Property Tax Bills Across Royalton, Franklin County, Illinois

Source: Ownwell

$527

$1,791

$3,054

Median Royalton Tax Bill

$1,332

Median Franklin County Tax Bill

$1,464

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Royalton, Franklin County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62983	$193	$611	$1,332	$2,725	$3,982

Source: Ownwell