Wenona, Illinois Property Taxes
The median property tax rate in Wenona, IL is 2.60%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Wenona at $63,063, the typical annual property tax bill reaches $1,640, exceeding the national median of $2,690. Property taxes in Wenona 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 Wenona'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 Wenona 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
Wenona, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.6%
Estimate Property Tax Bill
$1,640
$1,522
Ownwell’s Wenona Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Wenona with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Wenona to provide an estimated property tax bill. This valuable tool offers clarity on potential tax obligations. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by LaSalle County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Wenona, Illinois
Property taxes in Wenona, Illinois, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Wenona is 2.60%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Wenona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wenona 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 Wenona's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61377 zip code has the highest median property tax rate of 2.60%, while the same zip code also has the lowest median tax rate of 2.60%. Understanding how these cities compare with Wenona 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 Wenona Tax Rate
2.60%
Average Lasalle County Tax Rate
3.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wenona, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61377 | 2.60% | 2.60% | 2.60% | 2.60% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Wenona, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wenona, 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 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 Wenona, 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. Wenona’s median home price is $63,063, with a median tax bill of $1,640. The zip code 61377 has both the highest and lowest median tax bills, each at $1,640. Being aware of these valuation processes in Wenona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wenona Assessed Value
$63,063
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 Wenona, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61377 | $63,063 | $63,063 | $63,063 | $63,063 | $63,063 |
Source: Ownwell
Property Tax Bills Across Wenona, Illinois
In Wenona, located in LaSalle County, IL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Wenona face a median property tax of $1,640, which is significantly higher than the national median property tax rate of 0.99%. This higher rate can be attributed to various local factors, including funding requirements for public services such as schools, infrastructure, and emergency services. The tax bill in Wenona remains consistent across different percentiles, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $1,640. This uniformity suggests a stable tax environment but can be a substantial financial consideration for homeowners, particularly when compared to the median home price of $63,063. Understanding how these factors interplay can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Wenona Tax Bill
$1,640
Average Lasalle County Tax Bill
$2,340
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Wenona, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61377 | $1,640 | $1,640 | $1,640 | $1,640 | $1,640 |
Source: Ownwell