Dix, Illinois Property Taxes
The median property tax rate in DIX, IL is 1.71%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in DIX, the typical annual property tax bill reaches $1,750, exceeding the national median of $2,690. Property taxes in DIX 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 DIX'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 DIX 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
Dix, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$2,291
$2,126
Ownwell’s DIX Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DIX with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DIX 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 Dix, Illinois
Property taxes in DIX, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in DIX is 1.71%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within DIX set these rates annually, and they can vary significantly across different neighborhoods. Each year, DIX 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 DIX's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62830 zip code has the highest median property tax rate of 1.71%, while the 62830 zip code also has the lowest median tax rate of 1.71%. Understanding how these cities compare with DIX provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dix Tax Rate
1.71%
Average Marion County Tax Rate
2.03%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dix, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62830 | 0.55% | 0.94% | 1.71% | 2.04% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Dix, Illinois
In DIX, 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 Marion 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 DIX, 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 DIX helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in DIX is 62830, with a median tax bill of $1,750, while the lowest median tax bill is also $1,750 in the same zip code.
Average Dix Assessed Value
$133,962
Average Marion County Assessed Value
$53,770
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dix, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62830 | $42,759 | $59,550 | $133,962 | $182,754 | $281,103 |
Source: Ownwell
Property Tax Bills Across Dix, Illinois
In DIX, Marion County, IL, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This value is typically a percentage of the market value. The property tax rate is then applied to the assessed value to calculate the tax bill. Various factors influence the tax rate, including local government budgets, school district funding needs, and municipal services. Homeowners in DIX can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $441, while the 75th percentile reaches $3,767. At the 90th percentile, homeowners may see tax bills as high as $6,309. These figures highlight the range of property tax burdens within the area. Compared to the national median property tax rate of 0.99%, property taxes in DIX can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Dix Tax Bill
$1,750
Average Marion County Tax Bill
$1,004
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Dix, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62830 | $185 | $441 | $1,750 | $3,767 | $6,309 |
Source: Ownwell