Rutland, Illinois Property Taxes
The median property tax rate in Rutland, IL is 3.10%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Rutland at $13,035, the typical annual property tax bill is $262, which is below the national median of $2,690. Property taxes in Rutland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Rutland'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 Rutland or another part of LaSalle County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rutland, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.1%
Estimate Property Tax Bill
$404
$375
Ownwell’s Rutland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rutland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rutland 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 Rutland, Illinois
Property taxes in Rutland, Illinois, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Rutland is 3.10%, significantly higher than the U.S. national median of 0.99%. Local government entities within Rutland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rutland 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 Rutland's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 61358 has the highest median property tax rate of 3.10%, while the same zip code also has the lowest median tax rate of 3.10%. Understanding how these cities compare with Rutland 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 Rutland Tax Rate
3.10%
Average Lasalle County Tax Rate
3.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rutland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61358 | 1.80% | 2.29% | 3.10% | 3.10% | 3.10% |
Source: Ownwell
Property Tax Assessment Values Across Rutland, Illinois
In Rutland, 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 Rutland, 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 Rutland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 61358 has both the highest and lowest median tax bills at $262.
Average Rutland Assessed Value
$13,035
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 Rutland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61358 | $9,358 | $10,737 | $13,035 | $16,494 | $18,569 |
Source: Ownwell
Property Tax Bills Across Rutland, Illinois
In Rutland, located in LaSalle County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual property tax bill. The median home price in Rutland is $13,035, contributing to relatively modest tax bills compared to the national median property tax rate of 0.99%. Homeowners in Rutland typically see tax bills ranging from $227 at the 25th percentile to $440 at the 75th percentile, with the 90th percentile reaching up to $547. These figures reflect the financial impact on residents, with the highest and lowest median tax bills both recorded at $262 in the zip code 61358. Factors such as property improvements, changes in market value, and local government budgets can influence these tax amounts. Understanding these components helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Rutland Tax Bill
$262
Average Lasalle County Tax Bill
$2,340
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Rutland, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61358 | $207 | $227 | $262 | $440 | $547 |
Source: Ownwell