Kell, Illinois Property Taxes
The median property tax rate in KELL, IL is 1.60%, considerably higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With a median home value of $62,475 in KELL, the typical annual property tax bill reaches $853, which is below the national median of $2,690. Property taxes in KELL 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 KELL'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 KELL or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kell, 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 KELL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in KELL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in KELL 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 Kell, Illinois
Property taxes in KELL, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in KELL is 1.60%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within KELL set these rates annually, and they can vary significantly across different neighborhoods. Each year, KELL 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 KELL's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62853 zip code has the highest median property tax rate of 1.60%, while the same zip code also has the lowest median tax rate of 1.60%. Understanding how these cities compare with KELL 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 Kell Tax Rate
1.60%
Average Marion County Tax Rate
2.03%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kell, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62853 | 0.50% | 1.00% | 1.60% | 2.02% | 2.26% |
Source: Ownwell
Property Tax Assessment Values Across Kell, Illinois
In KELL, 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 KELL, 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 KELL helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in KELL is $62,475, with the highest median tax bill being $853 in zip code 62853.
Average Kell Assessed Value
$62,475
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 Kell, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62853 | $13,702 | $28,972 | $62,475 | $132,652 | $194,822 |
Source: Ownwell
Property Tax Bills Across Kell, Illinois
In KELL, property tax bills are calculated based on the assessed value of a property, which is determined by the Marion County Assessor's Office. The assessed value typically represents a percentage of the property's market value. Once the assessed value is established, local tax rates, which are set by various taxing authorities such as school districts, municipalities, and other local entities, are applied to calculate the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For instance, homeowners may qualify for exemptions that reduce their taxable value, thus lowering their tax bill. The median home price in KELL is $62,475, with property tax bills ranging significantly. At the 25th percentile, homeowners pay around $337, while those at the 75th percentile face bills of approximately $2,456. The 90th percentile sees tax bills as high as $4,075. These variations can significantly impact homeowners, especially those on fixed incomes, making it essential to understand how property taxes are calculated and what relief options may be available.
Average Kell Tax Bill
$853
Average Marion County Tax Bill
$1,004
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Kell, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62853 | $147 | $337 | $853 | $2,456 | $4,075 |
Source: Ownwell