Loda, Iroquois County, Illinois Property Taxes

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

Median LODA, IL effective property tax rate: 2.78%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median LODA, IL home value: $79,238
Median annual LODA, IL tax bill: $3,047, $647 higher than the national median property tax bill of $2,400.

How are property taxes in Iroquois 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, Iroquois County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.78%

Estimate Property Tax Bill

$2,203

$2,044

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 Iroquois County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Loda, Iroquois County, Illinois

Local government entities set tax rates, which can vary widely within a state. 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 Loda’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Loda, located in Iroquois County, is subject to a property tax rate of 2.78%, which is significantly higher than the national median property tax rate of 1.02%. This means that residents of Loda pay a higher percentage of their property's assessed value in taxes compared to the average U.S. homeowner. While the national median property tax bill is $2,400, Loda's rate reflects the unique budgetary needs and property values within the county. Understanding these differences can help homeowners make informed decisions about property investments and tax appeals in Illinois.

Property Tax Rates Across Loda, Iroquois County, Illinois

Source: Ownwell

2.29%

2.65%

3.01%

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 Taxx Rate

2.78%

Median Effective Iroquois County Taxx Rate

2.59%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Loda, Iroquois County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60948	1.72%	2.41%	2.78%	3.12%	4.04%

Source: Ownwell

Property Tax Assessment Values Across Loda, Iroquois County, Illinois

When examining property taxes in LODA, 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 Iroquois 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. Assessment notices: In Iroquois County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 $79,238, with tax bills ranging significantly across the county. 60948 has the highest median home price at $79,238.

Property Tax Assessment Values Across Loda, Iroquois County, Illinois

Source: Ownwell

$79,238

$114,214

$149,190

Median Loda Market Value

$79,238

Median Iroquois County Market Value

$114,710

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Loda, Iroquois County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60948	$1,275	$54,658	$79,238	$139,524	$202,491

Source: Ownwell

Property Tax Bills Across Loda, Iroquois County, Illinois

In Loda, located in Iroquois County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Loda is $79,238, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as the local tax rate, the assessed value of the property, and any applicable exemptions influence the final tax bill. In Loda, property tax bills vary significantly, with the 25th percentile at $1,513 and the 90th percentile reaching $7,767. This variance highlights the impact of differing property values and tax rates on homeowners. Compared to the national median property tax bill of $2,400, Loda's tax bills can be both lower and higher, depending on the specific property. Ownwell can assist homeowners in Loda by identifying potential savings through property tax appeals and exemptions, ensuring they pay only their fair share and potentially reducing their tax burden.

Property Tax Bills Across Loda, Iroquois County, Illinois

Source: Ownwell

$2,117

$3,220

$4,322

Median Loda Tax Bill

$3,047

Median Iroquois County Tax Bill

$3,017

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Loda, Iroquois County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60948	$461	$1,513	$3,047	$4,786	$7,767

Source: Ownwell