Dunfermline, Fulton County, Illinois Property Taxes

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

Median Dunfermline, IL effective property tax rate: 2.63%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Dunfermline, IL home value: $69,715
Median annual Dunfermline, IL tax bill: $815, $1,585 lower than the national median property tax bill of $2,400.

How are property taxes in Fulton County calculated?

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

Last Updated March 1, 2025

Dunfermline, Fulton County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.63%

Estimate Property Tax Bill

$1,834

$1,701

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

Property Tax Rates Across Dunfermline, Fulton County, Illinois

Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its budgetary needs to provide essential services and then divides this figure by the total value of all taxable property in its jurisdiction. This process determines the property tax rate. While the setting of tax rates and budgets involves votes and legislative measures, this annual calculation is the core of the process.

In Dunfermline, located in Fulton County, the effective property tax rate is notably higher than the national median of 1.02%. This places the area among the highest in Illinois. The median property tax rate in Illinois is 2.63%, which is significantly above the national median, reflecting the state's reliance on property taxes for funding local services. When comparing Dunfermline’s property tax rate to other cities in Illinois, it aligns with the higher end of the spectrum. This highlights the importance of understanding local tax variations and exploring opportunities for property tax appeals and exemptions to potentially reduce tax burdens.

Property Tax Rates Across Dunfermline, Fulton County, Illinois

Source: Ownwell

1.39%

2.49%

3.59%

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 Dunfermline Taxx Rate

2.63%

Median Effective Fulton County Taxx Rate

2.71%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Dunfermline, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61524	1.64%	2.09%	2.63%	2.63%	2.63%

Source: Ownwell

Property Tax Assessment Values Across Dunfermline, Fulton County, Illinois

When examining property taxes in Dunfermline, 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 Fulton 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 Fulton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Dunfermline.

For example, the median home price in Dunfermline is $69,715, with tax bills ranging significantly across the county. 61524 has the highest median home price at $69,715.

Property Tax Assessment Values Across Dunfermline, Fulton County, Illinois

Source: Ownwell

$26,937

$71,044

$115,150

Median Dunfermline Market Value

$69,715

Median Fulton County Market Value

$71,967

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Dunfermline, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61524	$22,636	$46,689	$69,715	$123,828	$170,633

Source: Ownwell

Property Tax Bills Across Dunfermline, Fulton County, Illinois

In Dunfermline, located in Fulton County, IL, property tax bills are primarily determined by the assessed value of a home. The assessed value is a percentage of the property's market value, and this figure is multiplied by the local tax rate to calculate the annual tax bill. With a median home price of $69,715, homeowners in Dunfermline face a range of tax bills. The 25th percentile tax bill stands at $483, while the 75th percentile reaches $1,161, and the 90th percentile climbs to $2,164. Compared to the national median property tax bill of $2,400, Dunfermline's tax bills can be relatively lower, yet they still represent a significant financial responsibility for homeowners. Factors such as changes in local government budgets and school funding can impact these rates. Homeowners can potentially reduce their tax bills by appealing their property's assessed value. Ownwell offers expertise in property tax appeals, helping homeowners navigate the process and identify potential savings, ensuring they pay only their fair share.

Property Tax Bills Across Dunfermline, Fulton County, Illinois

Source: Ownwell

$467

$949

$1,430

Median Dunfermline Tax Bill

$815

Median Fulton County Tax Bill

$1,058

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Dunfermline, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61524	$241	$483	$815	$1,161	$2,164

Source: Ownwell