Littleton, Illinois Property Taxes
The median property tax rate in Littleton, IL is 2.28%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Littleton, the typical annual property tax bill reaches $164, which is significantly lower than the national median of $2,690. Property taxes in Littleton 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 Littleton'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 Littleton 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
Littleton, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.28%
Estimate Property Tax Bill
$164
$160
Ownwell’s Littleton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Littleton with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Littleton to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, aiding in better financial planning. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by McDonough County, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Littleton, Illinois
Property taxes in Littleton, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Littleton is 2.28%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Littleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Littleton 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 Littleton's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61452 zip code has the highest median property tax rate of 2.28%, while the same zip code also has the lowest median tax rate of 2.28%. Understanding how these cities compare with Littleton 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 Littleton Tax Rate
2.28%
Average Mcdonough County Tax Rate
3.94%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Littleton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61452 | 2.28% | 2.28% | 2.28% | 2.28% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Littleton, Illinois
In Littleton, 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 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 Littleton, 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 Littleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $164.00, specifically in the 61452 zip code.
Average Littleton Assessed Value
$7,200
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 Littleton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61452 | $7,200 | $7,200 | $7,200 | $7,200 | $7,200 |
Source: Ownwell
Property Tax Bills Across Littleton, Illinois
In Littleton, McDonough County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value of the property. Homeowners in Littleton with a median home price of $7,200 can expect their property tax bills to be influenced by this assessed value. The tax rate is then applied to this assessed value to determine the final tax bill. Factors such as property size, location, and improvements can affect the assessed value, and consequently, the tax bill. In Littleton, the median property tax bill is $164, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax bill can be a financial relief for homeowners, allowing them to allocate more funds towards other expenses or investments. Understanding how these factors interplay can help homeowners in Littleton better anticipate their annual property tax obligations.
Average Littleton Tax Bill
$164
Average Mcdonough County Tax Bill
$1,464
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Littleton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61452 | $164 | $164 | $164 | $164 | $164 |
Source: Ownwell