Camp Grove, Illinois Property Taxes
The median property tax rate in Camp Grove, IL is 2.51%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Camp Grove at $51,548, the typical annual property tax bill reaches $1,073, exceeding the national median of $2,690. Property taxes in Camp Grove 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 Camp Grove'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 Camp Grove 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
Camp Grove, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$1,294
$1,264
Ownwell’s CAMP GROVE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CAMP GROVE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CAMP GROVE 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 Camp Grove, Illinois
Property taxes in Camp Grove, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Camp Grove is 2.51%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Camp Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Camp Grove 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 Camp Grove's effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 61424 has the highest median property tax rate of 2.51%, while the same zip code also has the lowest median tax rate of 2.51%. Understanding how these figures compare with Camp Grove provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Camp Grove Tax Rate
2.51%
Average Marshall County Tax Rate
2.51%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Camp Grove, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61424 | 1.78% | 2.24% | 2.51% | 2.52% | 2.52% |
Source: Ownwell
Property Tax Assessment Values Across Camp Grove, Illinois
In Camp Grove, 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 Marshall 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 Camp Grove, 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. The median home price in Camp Grove is $51,548, with tax bills ranging from $529 at the 25th percentile to $6,368 at the 90th percentile. The zip code with the highest median tax bill is 61424, at $1,073. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Camp Grove Assessed Value
$51,548
Average Marshall County Assessed Value
$137,295
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Camp Grove, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61424 | $18,891 | $34,460 | $51,548 | $129,511 | $254,657 |
Source: Ownwell
Property Tax Bills Across Camp Grove, Illinois
In Camp Grove, located in Marshall County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. Homeowners in Camp Grove can expect their property tax bills to be influenced by various factors such as the local tax rate, which is applied to the assessed value, and any applicable exemptions or deductions. For instance, the median home price in Camp Grove is $51,548, and property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $529, while those at the 75th percentile could see bills as high as $3,247. The 90th percentile reaches up to $6,368. These figures highlight the range of property tax obligations within the community, which can impact homeowners' financial planning and overall cost of living. Compared to the national median property tax rate of 0.99%, the rates in Camp Grove can vary, affecting how much residents ultimately pay.
Average Camp Grove Tax Bill
$1,073
Average Marshall County Tax Bill
$3,331
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Camp Grove, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61424 | $340 | $529 | $1,073 | $3,247 | $6,368 |
Source: Ownwell