Rochelle, Illinois Property Taxes
The median property tax rate in Rochelle, IL is 2.60%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Rochelle at $129,798, the typical annual property tax bill reaches $3,380, exceeding the national median of $2,690. Property taxes in Rochelle 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 Rochelle'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 Rochelle 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
Rochelle, 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 Rochelle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rochelle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rochelle 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 Rochelle, Illinois
Property taxes in Rochelle, Illinois, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Rochelle is 2.60%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Rochelle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rochelle 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 Rochelle's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61068 zip code has the highest median property tax rate of 2.60%, while the same zip code also has the lowest median tax rate of 2.60%. Understanding how these cities compare with Rochelle 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 Rochelle Tax Rate
2.60%
Average Ogle County Tax Rate
2.50%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rochelle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61068 | 2.08% | 2.40% | 2.60% | 2.76% | 3.10% |
Source: Ownwell
Property Tax Assessment Values Across Rochelle, Illinois
In ROCHELLE, 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 Assessment Office 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 ROCHELLE, 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 ROCHELLE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in ROCHELLE is $129,798. Notably, the highest and lowest median tax bills are both $3,380, occurring in the 61068 zip code. The 25th percentile tax bill is $2,498, while the 75th percentile tax bill is $4,690, and the 90th percentile tax bill reaches $6,277.
Average Rochelle Assessed Value
$129,798
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 Rochelle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61068 | $81,225 | $100,629 | $129,798 | $177,978 | $230,717 |
Source: Ownwell
Property Tax Bills Across Rochelle, Illinois
Property tax bills in Rochelle, Ogle County, IL, are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value of the home. For instance, if the median home price in Rochelle is $129,798, the assessed value would be a fraction of this amount. The tax rate is then applied to the assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the property's location, the local tax rate, and any applicable exemptions or deductions. For Rochelle, the tax bill can vary significantly, with the 25th percentile at $2,498 and the 75th percentile at $4,690. This variability can affect homeowners differently, depending on their property's assessed value and eligibility for exemptions. Homeowners in Rochelle may face higher or lower tax bills compared to the national median property tax rate of 0.99%, impacting their overall cost of homeownership and financial planning.
Average Rochelle Tax Bill
$3,380
Average Ogle County Tax Bill
$3,458
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Rochelle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61068 | $1,823 | $2,498 | $3,380 | $4,690 | $6,277 |
Source: Ownwell