Apple River, Illinois Property Taxes
The median property tax rate in Apple River, IL is 2.38%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Apple River at $197,804, the typical annual property tax bill reaches $4,680, far exceeding the national median of $2,690. Property taxes in Apple River are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Apple River'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 Apple River or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Apple River, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Apple River Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Apple River with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Apple River to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan your finances accordingly. For those interested in more detailed insights, scroll down to explore neighborhood-level trends. Your property’s assessed value, determined by Jo Daviess County, is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Apple River, Illinois
Property taxes in Apple River, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Apple River is 2.38%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Apple River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Apple River 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 Apple River's effective property tax rate to other areas in Jo Daviess County and the national median. For comparison, the 61001 zip code has the highest median property tax rate of 2.38%, while the same zip code also has the lowest median tax rate of 2.38%. Understanding how these figures compare with Apple River provides valuable insights into the varying tax landscape across Jo Daviess County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Apple River Tax Rate
2.38%
Average Jo Daviess County Tax Rate
2.30%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Apple River, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61001 | 2.30% | 2.30% | 2.38% | 2.38% | 2.48% |
Source: Ownwell
Property Tax Assessment Values Across Apple River, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Apple River, Illinois. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Jo Daviess 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 Apple River, 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 Apple River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 61001 has both the highest and lowest median tax bill at $4,680.
Average Apple River Assessed Value
$197,804
Average Jo Daviess County Assessed Value
$98,005
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Apple River, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61001 | $123,748 | $143,637 | $197,804 | $303,288 | $447,478 |
Source: Ownwell
Property Tax Bills Across Apple River, Illinois
In Apple River, Jo Daviess County, IL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. For instance, with a median home price of $197,804, homeowners can expect their tax bills to vary significantly. Factors such as property improvements, neighborhood changes, and market conditions also influence the assessed value. The property tax rate in Apple River is applied to this assessed value to determine the annual tax bill. Homeowners in the 25th percentile face tax bills around $3,189, while those in the 75th percentile see bills closer to $7,217. At the 90th percentile, tax bills can reach up to $10,534. These amounts are considerably higher than the national median property tax rate of 0.99%, impacting homeowners by requiring a substantial yearly financial commitment. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Apple River Tax Bill
$4,680
Average Jo Daviess County Tax Bill
$2,492
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Apple River, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61001 | $2,620 | $3,189 | $4,680 | $7,217 | $10,534 |
Source: Ownwell