Mendota, Illinois Property Taxes
The median property tax rate in Mendota, IL is 3.01%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Mendota at $80,673, the typical annual property tax bill reaches $2,183, which, while below the national median of $2,690, still represents a significant financial obligation for homeowners. Property taxes in Mendota 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 Mendota'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 Mendota 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
Mendota, 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 Mendota Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mendota with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Mendota to provide an estimate of your property tax bill. This valuable resource helps you gauge potential tax liabilities effectively. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property's assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Mendota, Illinois
Property taxes in Mendota, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mendota is 3.01%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Mendota set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mendota 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 Mendota's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61342 zip code has the highest median property tax rate of 3.01%, while the same zip code also has the lowest median tax rate of 3.01%. Understanding how these cities compare with Mendota provides valuable insights into the varying tax landscape across LaSalle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mendota Tax Rate
3.01%
Average Lasalle County Tax Rate
3.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mendota, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61342 | 1.94% | 2.59% | 3.01% | 3.01% | 3.03% |
Source: Ownwell
Property Tax Assessment Values Across Mendota, Illinois
In Mendota, 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 LaSalle 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 Mendota, 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. The median home price in Mendota is $80,673, with tax bills ranging from $1,468 at the 25th percentile to $3,380 at the 90th percentile. The highest and lowest median tax bills, both at $2,183, are found in zip code 61342. 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 Mendota helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mendota Assessed Value
$80,673
Average Lasalle County Assessed Value
$83,415
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mendota, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61342 | $37,051 | $55,860 | $80,673 | $97,029 | $130,440 |
Source: Ownwell
Property Tax Bills Across Mendota, Illinois
In Mendota, property tax bills are calculated based on the assessed value of a home, which is determined by the LaSalle County assessor's office. The assessed value is a percentage of the market value of the property. Various factors are considered, including the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Homeowners in Mendota experience a range of property tax bills. The 25th percentile tax bill stands at $1,468, while the 75th percentile reaches $2,795, and the 90th percentile hits $3,380. The median home price in the area is $80,673, which influences the overall tax burden. Comparatively, the national median property tax rate is 0.99%, and Mendota's rates can be higher or lower depending on specific neighborhood assessments. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for Mendota residents. Understanding these factors can help homeowners anticipate their annual property tax obligations.
Average Mendota Tax Bill
$2,183
Average Lasalle County Tax Bill
$2,340
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Mendota, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61342 | $881 | $1,468 | $2,183 | $2,795 | $3,380 |
Source: Ownwell