Prairie Du Rocher, Illinois Property Taxes
The median property tax rate in Prairie du Rocher, IL is 1.81%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Prairie du Rocher, the typical annual property tax bill reaches $2,070, slightly below the national median of $2,690. Property taxes in Prairie du Rocher 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 Prairie du Rocher'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 Prairie du Rocher 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
Prairie Du Rocher, 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 Prairie du Rocher Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prairie du Rocher with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prairie du Rocher 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 Prairie Du Rocher, Illinois
Property taxes in Prairie du Rocher, Illinois, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Prairie du Rocher is 1.81%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Prairie du Rocher set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prairie du Rocher 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 Prairie du Rocher's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62277 zip code has both the highest and lowest median property tax rate of 1.81%. Understanding how these cities compare with Prairie du Rocher provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prairie Du Rocher Tax Rate
1.81%
Average Monroe County Tax Rate
1.91%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prairie Du Rocher, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62277 | 1.39% | 1.63% | 1.81% | 2.01% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Prairie Du Rocher, Illinois
In Prairie du Rocher, 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 Monroe 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 Prairie du Rocher, 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 Prairie du Rocher helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 62277, with a tax bill of $2,070.
Property Tax Assessment Values Across Prairie Du Rocher, Illinois
Source: Ownwell
$54,540
$147,450
$240,360
Average Prairie Du Rocher Assessed Value
$133,857
Average Monroe County Assessed Value
$218,520
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prairie Du Rocher, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62277 | $25,365 | $72,300 | $133,857 | $181,563 | $216,071 |
Source: Ownwell
Property Tax Bills Across Prairie Du Rocher, Illinois
In Prairie du Rocher, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, if a home has a market value of $133,857, the assessed value is determined by local assessment rates, which then influences the final tax bill. Factors such as property size, location, and improvements can affect this assessed value. Homeowners in Prairie du Rocher typically see property tax bills ranging from $1,330 at the 25th percentile to $4,026 at the 90th percentile. The median tax bill in the area is around $2,070, which is higher than the national median property tax rate of 0.99%. This means that property taxes can be a significant expense for homeowners in this region, impacting their overall cost of living and financial planning. Understanding these factors can help residents better anticipate their property tax obligations and manage their budgets accordingly.
Average Prairie Du Rocher Tax Bill
$2,070
Average Monroe County Tax Bill
$3,972
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Prairie Du Rocher, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62277 | $357 | $1,330 | $2,070 | $3,134 | $4,026 |
Source: Ownwell