Blandinsville, Illinois Property Taxes
The median property tax rate in Blandinsville, IL is 3.07%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Blandinsville at $30,710, the typical annual property tax bill reaches $943, which is below the national median of $2,690. Property taxes in Blandinsville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Blandinsville'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 Blandinsville or another part of McDonough County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blandinsville, 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 Blandinsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blandinsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blandinsville 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 Blandinsville, Illinois
Property taxes in Blandinsville, Illinois, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Blandinsville is 3.07%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Blandinsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blandinsville 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 Blandinsville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61420 zip code has the highest median property tax rate of 3.07%, while the same zip code also has the lowest median tax rate of 3.07%. Understanding how these cities compare with Blandinsville provides valuable insights into the varying tax landscape across McDonough County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blandinsville Tax Rate
3.07%
Average Mcdonough County Tax Rate
3.94%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blandinsville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61420 | 2.96% | 3.07% | 3.07% | 3.07% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Blandinsville, Illinois
In Blandinsville, 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 McDonough 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 Blandinsville, 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 Blandinsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $943, specifically in the 61420 zip code.
Average Blandinsville Assessed Value
$30,710
Average Mcdonough County Assessed Value
$39,024
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blandinsville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61420 | $17,816 | $22,271 | $30,710 | $66,998 | $80,283 |
Source: Ownwell
Property Tax Bills Across Blandinsville, Illinois
Property tax bills in Blandinsville, located in McDonough County, IL, are determined by several key factors. The process begins with the assessment of a property's market value, which in Blandinsville has a median home price of $30,710. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Blandinsville's property tax rates can vary, but the median tax bill in the area is $943, which is significantly lower than the national median property tax rate of 0.99%. Homeowners in Blandinsville can expect their tax bills to fall within a range, with the 25th percentile at $684 and the 75th percentile reaching $1,926. For those in the 90th percentile, tax bills can go as high as $2,378. These taxes are used to fund local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Understanding these factors helps homeowners anticipate their financial obligations and the benefits they receive from their contributions.
Average Blandinsville Tax Bill
$943
Average Mcdonough County Tax Bill
$1,464
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Blandinsville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61420 | $547 | $684 | $943 | $1,926 | $2,378 |
Source: Ownwell