Dixon, Illinois Property Taxes
The median property tax rate in Dixon, IL is 2.34%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Dixon, the typical annual property tax bill reaches $3,622, exceeding the national median of $2,690. Property taxes in Dixon 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 Dixon'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 Dixon 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
Dixon, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.34%
Estimate Property Tax Bill
$3,828
$3,552
Ownwell's Dixon Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dixon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dixon to project your property tax bill. This valuable tool provides insight into your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Dixon, Illinois
Property taxes in Dixon, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dixon is 2.34%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Dixon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dixon 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 Dixon's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61021 zip code has the highest median property tax rate of 2.34%, while the same zip code also has the lowest median tax rate of 2.34%. Understanding how these cities compare with Dixon provides valuable insights into the varying tax landscape across Ogle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dixon Tax Rate
2.34%
Average Ogle County Tax Rate
2.50%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dixon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61021 | 1.74% | 2.11% | 2.34% | 2.51% | 2.77% |
Source: Ownwell
Property Tax Assessment Values Across Dixon, Illinois
In Dixon, 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 Ogle 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 Dixon, 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 example, the median home price in Dixon is $163,584, with tax bills ranging from $2,420 at the 25th percentile to $6,537 at the 90th percentile. The highest and lowest median tax bills are both $3,622 in zip code 61021. Being aware of these valuation processes in Dixon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dixon Assessed Value
$163,584
Average Ogle County Assessed Value
$139,425
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dixon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61021 | $70,731 | $116,156 | $163,584 | $215,337 | $267,202 |
Source: Ownwell
Property Tax Bills Across Dixon, Illinois
In Dixon, located in Ogle County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value. The tax rate, set by local taxing authorities, is then applied to the assessed value to calculate the tax bill. Factors influencing this calculation include the property's location, size, and any applicable exemptions or deductions. For homeowners in Dixon, the median home price is $163,584. The tax bill varies significantly, with the 25th percentile at $2,420 and the 75th percentile reaching $5,060. At the 90th percentile, homeowners might see tax bills as high as $6,537. Comparatively, the national median property tax rate is 0.99%, making Dixon's property tax rates notably impactful on homeowners' finances. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Dixon Tax Bill
$3,622
Average Ogle County Tax Bill
$3,458
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Dixon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61021 | $1,225 | $2,420 | $3,622 | $5,060 | $6,537 |
Source: Ownwell