Allenville, Illinois Property Taxes
The median property tax rate in Allenville, IL is 1.83%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Allenville at $34,636, the typical annual property tax bill reaches $561, which is significantly lower than the national median of $2,690. Property taxes in Allenville 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 Allenville'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 Allenville 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
Allenville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.83%
Estimate Property Tax Bill
$634
$588
Ownwell’s Allenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allenville 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 Allenville, Illinois
Property taxes in Allenville, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allenville is 1.83%, significantly higher than the U.S. national median of 0.99%. Local government entities within Allenville set these rates annually, and they can vary across different neighborhoods. Each year, Allenville 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 Allenville's effective property tax rate to other areas in Moultrie County and the national median. For comparison, the zip code 61951 has the highest median property tax rate of 1.83%, while the same zip code also has the lowest median tax rate of 1.83%. Understanding how these cities compare with Allenville provides valuable insights into the varying tax landscape across Moultrie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allenville Tax Rate
1.83%
Average Moultrie County Tax Rate
2.15%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allenville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61951 | 0.74% | 1.04% | 1.83% | 2.58% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across Allenville, Illinois
In Allenville, 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 Moultrie 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 Allenville, 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. For instance, the median home price in Allenville is $34,636, with tax bills ranging from $324 at the 25th percentile to $1,645 at the 90th percentile. The zip code 61951 has both the highest and lowest median tax bill of $561. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Allenville Assessed Value
$34,636
Average Moultrie County Assessed Value
$97,648
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allenville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61951 | $14,665 | $22,913 | $34,636 | $63,740 | $92,557 |
Source: Ownwell
Property Tax Bills Across Allenville, Illinois
In Allenville, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. Several factors influence the tax bill, including property size, location, and any improvements made to the property. The local tax rate, set by the county, is then applied to the assessed value to determine the final tax bill. For homeowners in Allenville, the median home price is $34,636. Property tax bills can vary significantly, with the 25th percentile tax bill at $324 and the 75th percentile at $1,237. The 90th percentile tax bill reaches up to $1,645. These figures show that while some homeowners may pay modest amounts, others could face higher bills depending on their property's assessed value and the applicable tax rate. Compared to the national median property tax rate of 0.99%, Allenville's property tax landscape reflects a diverse range of tax obligations for its residents.
Average Allenville Tax Bill
$561
Average Moultrie County Tax Bill
$2,121
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Allenville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61951 | $190 | $324 | $561 | $1,237 | $1,645 |
Source: Ownwell