Dow, Jersey County, Illinois Property Taxes
Median DOW, IL effective property tax rate: 2.12%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median DOW, IL home value: $135,510
Median annual DOW, IL tax bill: $2,765, $365 higher than the national median property tax bill of $2,400.
How are property taxes in Jersey calculated?
Property taxes in DOW, 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 DOW’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in DOW, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Dow, Jersey County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.12%
Estimate Property Tax Bill
$2,873
$2,666
Property Tax Rates Across Dow, Jersey County, Illinois
Local government entities set tax rates, which can vary widely within a state. 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.
In DOW, Jersey County, IL, the effective property tax rate is significantly higher than the national median, reflecting the local government's budgeting needs and the total assessed value of properties. Such a rate can have considerable implications for homeowners, potentially impacting affordability and influencing decisions on purchasing or maintaining property in the area. When compared to other cities in Illinois, DOW's property tax rate aligns with the state's median, which is notably above the national median. This comparison highlights the importance of understanding local tax dynamics and considering them in property-related decisions. By staying informed, property owners can better navigate the financial aspects of homeownership and make strategic choices regarding tax appeals and exemptions.
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 Dow Tax Rate
2.12%
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 Jersey County Tax Rate
2.18%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Dow, Jersey County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62022 | 1.21% | 1.71% | 2.12% | 2.19% | 2.27% |
Source: Ownwell
Property Tax Assessment Values Across Dow, Jersey County, Illinois
When examining property taxes in Dow, Illinois, 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 Jersey 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 Jersey County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April.
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 Dow.
For example, the median home price in Dow is $135,510, with tax bills ranging significantly across the county. Zip code 62022 has the highest median home price at $135,510.
Property Tax Assessment Values Across Dow, Jersey County, Illinois
Source: Ownwell
$11,280
$93,349
$175,418
Median Dow Market Value
$135,510
Median Jersey County Market Value
$130,268
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Dow, Jersey County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62022 | $23,940 | $64,395 | $135,510 | $194,865 | $257,592 |
Source: Ownwell
Property Tax Bills Across Dow, Jersey County, Illinois
In Dow, Jersey County, IL, property tax bills are determined by assessing the property's market value, which is then multiplied by the local tax rate. Homeowners in this region face a median tax bill of $2,765, slightly above the national median of $2,400. This calculation considers various factors, including the property's assessed value and applicable exemptions. The tax bill can vary significantly, with the 25th percentile at $1,185 and the 90th percentile reaching $5,541, indicating a broad range in what homeowners may owe. For residents, these taxes can be a substantial financial commitment, affecting overall affordability and budgeting.
Ownwell offers a valuable service to homeowners in Dow by helping them navigate and potentially reduce their property tax bills. Through expert analysis and appeal services, Ownwell identifies opportunities for savings by ensuring that property assessments are accurate and that homeowners are receiving all eligible exemptions. This can lead to significant reductions in tax liabilities, providing homeowners with financial relief and peace of mind.
Median Dow Tax Bill
$2,765
Median Jersey County Tax Bill
$2,776
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Dow, Jersey County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62022 | $425 | $1,185 | $2,765 | $4,186 | $5,541 |
Source: Ownwell