Ipava, Fulton County, Illinois Property Taxes

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

Median Ipava, IL effective property tax rate: 3.03%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Ipava, IL home value: $51,622
Median annual Ipava, IL tax bill: $940, $1,460 lower than the national median property tax bill of $2,400.

How are property taxes in Fulton calculated?

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

Last Updated March 1, 2025

Ipava, Fulton County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.03%

Estimate Property Tax Bill

$1,564

$1,451

Ownwell’s Ipava Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ipava with just two data points. By entering your property's estimated assessed value, our calculator applies Ipava’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 Ipava, Fulton County, Illinois

Local government entities set tax rates, which can vary widely within a state. Why? 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 there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Ipava’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

In Ipava, located in Fulton County, property owners experience a median property tax rate of 3.03%. This rate is significantly higher than the national median property tax rate of 1.02%. Illinois itself is known for having some of the highest property tax rates in the nation. This high rate can be attributed to the state's reliance on property taxes to fund local services and schools. Understanding these rates is crucial for property owners looking to manage their expenses effectively. By appealing property taxes or seeking exemptions, owners can potentially reduce their financial burden.

Property Tax Rates Across Ipava, 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 Ipava Taxx Rate

3.03%

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 Ipava, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61441	1.79%	2.16%	3.03%	3.23%	3.23%

Source: Ownwell

Property Tax Assessment Values Across Ipava, Fulton County, Illinois

When examining property taxes in Ipava, 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 Assessor 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 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 Ipava. For example, the median home price in Ipava is $51,622, with tax bills ranging significantly across the county. 61441 has the highest median home price at $51,622.

Property Tax Assessment Values Across Ipava, Fulton County, Illinois

Source: Ownwell

$26,937

$71,044

$115,150

Median Ipava Market Value

$51,622

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 Ipava, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61441	$11,964	$29,280	$51,622	$77,628	$110,294

Source: Ownwell

Property Tax Bills Across Ipava, Fulton County, Illinois

In Ipava, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the home's market value, which in Ipava is influenced by the median home price of $51,622. Tax bills can vary significantly, with the 25th percentile paying around $605 and the 75th percentile reaching $1,648. At the 90th percentile, homeowners may face bills as high as $2,379. These figures highlight the financial impact on homeowners, especially when compared to the national median property tax bill of $2,400. Homeowners in Ipava may find their tax bills higher or lower depending on their property's assessed value and the local tax rate. Ownwell offers services to help homeowners potentially reduce their property tax bills by appealing their assessments and securing exemptions. By analyzing individual property assessments and identifying discrepancies, Ownwell can assist in lowering the financial burden of property taxes, ensuring homeowners pay only their fair share.

Property Tax Bills Across Ipava, Fulton County, Illinois

Source: Ownwell

$467

$949

$1,430

Median Ipava Tax Bill

$940

Median Fulton County Tax Bill

$1,058

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Ipava, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61441	$228	$605	$940	$1,648	$2,379

Source: Ownwell