Pleasant Plains, Illinois Property Taxes
The median property tax rate in Pleasant Plains, IL is 2.53%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $305,746, the typical annual property tax bill in Pleasant Plains reaches $7,739, far exceeding the national median of $2,690. Property taxes in Pleasant Plains are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pleasant Plains' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Pleasant Plains 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
Pleasant Plains, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.53%
Estimate Property Tax Bill
$7,735
$7,178
Ownwell’s Pleasant Plains Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pleasant Plains with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pleasant Plains 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 Pleasant Plains, Illinois
Property taxes in Pleasant Plains, Illinois, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Pleasant Plains is 2.53%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Pleasant Plains set these rates annually, and they can vary considerably across different neighborhoods. Each year, Pleasant Plains 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 Pleasant Plains' effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 62677 has both the highest and lowest median property tax rate of 2.53%. Understanding how these areas compare with Pleasant Plains provides valuable insights into the varying tax landscape across Menard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pleasant Plains Tax Rate
2.53%
Average Menard County Tax Rate
2.40%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pleasant Plains, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62677 | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% |
Source: Ownwell
Property Tax Assessment Values Across Pleasant Plains, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pleasant Plains, Illinois. 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 Menard 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 Pleasant Plains, 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. For instance, the median home price in Pleasant Plains is $305,746, with tax bills ranging from $6,824 at the 25th percentile to $9,203 at the 90th percentile. Notably, the highest and lowest median tax bills are both $7,739 in the 62677 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pleasant Plains, Illinois
Source: Ownwell
$45,300
$175,523
$305,746
Average Pleasant Plains Assessed Value
$305,746
Average Menard County Assessed Value
$80,994
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pleasant Plains, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62677 | $247,735 | $269,489 | $305,746 | $342,004 | $363,758 |
Source: Ownwell
Property Tax Bills Across Pleasant Plains, Illinois
In Pleasant Plains, Menard County, IL, property tax bills are calculated based on the assessed value of the home, which is determined by local assessors. This assessed value is a percentage of the market value of the property. The local tax rate is then applied to this assessed value to calculate the tax bill. Factors such as property improvements, neighborhood characteristics, and market trends can influence the assessed value. For homeowners in Pleasant Plains, the median home price is $305,746. Property tax bills can vary significantly, with the 25th percentile tax bill at $6,824 and the 75th percentile at $8,654. At the 90th percentile, homeowners might pay around $9,203. These tax bills are higher than the national median property tax rate of 0.99%, reflecting the local tax rate and property values. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and long-term financial planning.
Average Pleasant Plains Tax Bill
$7,739
Average Menard County Tax Bill
$1,844
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Pleasant Plains, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62677 | $6,275 | $6,824 | $7,739 | $8,654 | $9,203 |
Source: Ownwell