Bluford, Illinois Property Taxes
The median property tax rate in Bluford, IL is 1.99%, considerably higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With the median home value in Bluford at $51,495, the typical annual property tax bill reaches $984, which is significantly below the national median of $2,690. Property taxes in Bluford are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bluford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bluford or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bluford, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.99%
Estimate Property Tax Bill
$1,025
$1,001
Ownwell’s Bluford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bluford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bluford to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bluford, Illinois
Property taxes in Bluford, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bluford is 1.99%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bluford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bluford estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Bluford's effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 62814 has the highest median property tax rate of 1.99%, while the same zip code also has the lowest median tax rate of 1.99%. Understanding how these areas compare with Bluford provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bluford Tax Rate
1.99%
Average Jefferson County Tax Rate
2.20%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bluford, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62814 | 0.67% | 1.57% | 1.99% | 2.30% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Bluford, Illinois
In Bluford, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Jefferson County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Bluford, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Bluford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 62814, with a median tax of $984.00.
Average Bluford Assessed Value
$51,495
Average Jefferson County Assessed Value
$61,827
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bluford, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62814 | $5,483 | $20,164 | $51,495 | $95,950 | $138,831 |
Source: Ownwell
Property Tax Bills Across Bluford, Illinois
In Bluford, Jefferson County, IL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. Local taxing authorities determine the tax rate, which is then applied to the assessed value to calculate the tax bill. For instance, with a median home price of $51,495, the property tax rate in Bluford can lead to varying tax bills. Homeowners in the 25th percentile might pay around $274, while those in the 75th percentile could see bills as high as $1,801. At the 90th percentile, tax bills can reach up to $2,730. These figures highlight the variability in tax burdens, influenced by factors such as property value and local tax rates. Compared to the national median property tax rate of 0.99%, Bluford's rates can significantly impact homeowners' finances, emphasizing the importance of understanding local property tax assessments.
Average Bluford Tax Bill
$984
Average Jefferson County Tax Bill
$1,229
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Bluford, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62814 | $72 | $274 | $984 | $1,801 | $2,730 |
Source: Ownwell