Naplate, Illinois Property Taxes
The median property tax rate in Naplate, IL is 2.83%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Naplate at $69,663, the typical annual property tax bill reaches $1,971, exceeding the national median of $2,690. Property taxes in Naplate 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 Naplate'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 Naplate 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
Naplate, 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 Naplate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Naplate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Naplate 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 Naplate, Illinois
Property taxes in Naplate, Illinois, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Naplate is 2.83%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Naplate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Naplate 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 Naplate's effective property tax rate to other areas in Illinois and the national median. For comparison, the 61350 zip code has the highest median property tax rate of 2.83%, while the same zip code also has the lowest median tax rate of 2.83%. Understanding how these cities compare with Naplate 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 Naplate Tax Rate
2.83%
Average Lasalle County Tax Rate
3.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Naplate, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61350 | 2.83% | 2.83% | 2.83% | 2.83% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Naplate, Illinois
In Naplate, 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 Assessor 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 Naplate, 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 Naplate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Naplate is $69,663, with a median tax bill of $1,971. Interestingly, both the highest and lowest median tax bills are found in the 61350 zip code, each amounting to $1,971.
Average Naplate Assessed Value
$69,663
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 Naplate, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61350 | $69,663 | $69,663 | $69,663 | $69,663 | $69,663 |
Source: Ownwell
Property Tax Bills Across Naplate, Illinois
In Naplate, located in LaSalle 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 is typically a percentage of the property's market value. In this area, homeowners experience a consistent median tax bill of $1,971, regardless of their home's assessed value. This uniformity is notable when compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, local government budgets, and specific levies for public services like schools and infrastructure. For homeowners in Naplate, this means that their annual property tax obligation is relatively predictable, aiding in financial planning. However, the fixed tax bill of $1,971 might seem high compared to other regions, but it ensures that essential community services are funded adequately. This consistency can provide homeowners with a clear understanding of their financial responsibilities year over year.
Average Naplate Tax Bill
$1,971
Average Lasalle County Tax Bill
$2,340
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Naplate, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61350 | $1,971 | $1,971 | $1,971 | $1,971 | $1,971 |
Source: Ownwell