Utica, Illinois Property Taxes
The median property tax rate in Utica, Illinois is 2.96%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Utica at $98,274, the typical annual property tax bill reaches $2,900, exceeding the national median of $2,690. Property taxes in Utica are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Utica'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 Utica 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
Utica, 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 Utica Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Utica with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Utica 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 LaSalle County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Utica, Illinois
Property taxes in Utica, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Utica is 2.96%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Utica set these rates annually, and they can vary significantly across different neighborhoods. Each year, Utica 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 Utica's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61373 zip code has the highest median property tax rate of 2.96%, while the same zip code also has the lowest median tax rate of 2.96%. Understanding how these cities compare with Utica 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 Utica Tax Rate
2.96%
Average Lasalle County Tax Rate
3.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Utica, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61373 | 2.59% | 2.84% | 2.96% | 2.96% | 2.97% |
Source: Ownwell
Property Tax Assessment Values Across Utica, Illinois
In Utica, 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 Utica, 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 Utica helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Utica both stand at $2,900, with the zip code 61373 reflecting this value.
Average Utica Assessed Value
$98,274
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 Utica, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61373 | $18,187 | $43,306 | $98,274 | $168,498 | $209,661 |
Source: Ownwell
Property Tax Bills Across Utica, Illinois
In Utica, located in LaSalle County, IL, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is typically a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the tax bill. Various factors influence the final tax amount, including property size, location, and any applicable exemptions. For instance, the median home price in Utica is $98,274. Homeowners at the 25th percentile can expect a tax bill around $1,268, while those at the 75th percentile might see a bill of approximately $5,120. At the 90th percentile, the tax bill can reach up to $6,040. These figures highlight the significant range in property tax burdens, which can impact homeowners' financial planning and living costs. Understanding how these taxes are calculated helps homeowners anticipate their annual expenses and manage their budgets more effectively, ensuring they are prepared for their property tax obligations.
Average Utica Tax Bill
$2,900
Average Lasalle County Tax Bill
$2,340
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Utica, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61373 | $509 | $1,268 | $2,900 | $5,120 | $6,040 |
Source: Ownwell