Big Rock, Illinois Property Taxes
The median property tax rate in Big Rock, IL is 1.42%, which is significantly higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With the median home value in Big Rock at $326,031, the typical annual property tax bill is $2,486, which is below the national median of $2,690. Property taxes in Big Rock are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. By understanding Big Rock's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether residing in the heart of Big Rock or other areas within Kendall County, a thorough understanding of the local property tax system is essential for financial planning and investment strategies.
Last Updated June 14, 2024
Big Rock, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$4,630
$4,296
Ownwell’s Big Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Rock 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 Big Rock, Illinois
Property taxes in Big Rock, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Rock is 1.42%, higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Big Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Rock 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 Big Rock's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60511 zip code has the highest median property tax rate of 1.42%, while the same zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Big Rock provides valuable insights into the varying tax landscape across Kendall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Rock Tax Rate
1.42%
Average Kendall County Tax Rate
2.83%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Rock, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60511 | 0.28% | 0.71% | 1.42% | 2.13% | 2.56% |
Source: Ownwell
Property Tax Assessment Values Across Big Rock, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Big Rock, Illinois. 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 Kendall 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 Big Rock, 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 Big Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Big Rock is $2,486 in the 60511 zip code, while the lowest median tax bill is also $2,486 in the same zip code.
Average Big Rock Assessed Value
$326,031
Average Kendall County Assessed Value
$264,846
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Rock, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60511 | $205,253 | $250,545 | $326,031 | $401,517 | $446,809 |
Source: Ownwell
Property Tax Bills Across Big Rock, Illinois
In Big Rock, property tax bills are calculated based on the assessed value of a home, which is determined by the Kendall County Assessor's Office. The assessed value is typically a percentage of the home's market value. Homeowners in Big Rock can expect their property tax bills to vary, with the 25th percentile paying around $1,243 and the 75th percentile paying up to $3,730. The highest median tax bill in the area is $2,486, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, a median home price of $326,031 in Big Rock would result in a substantial tax bill, impacting homeowners' annual expenses significantly. Understanding these components can help homeowners better anticipate their financial obligations and plan accordingly. The variability in tax bills underscores the importance of accurate property assessments and awareness of local tax policies.
Average Big Rock Tax Bill
$2,486
Average Kendall County Tax Bill
$7,273
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Rock, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60511 | $497 | $1,243 | $2,486 | $3,730 | $4,476 |
Source: Ownwell