Bartonville, Illinois Property Taxes
The median property tax rate in Bartonville, IL, is 2.80%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Bartonville, the typical annual property tax bill reaches $2,541, which is just below the national median of $2,690. Property taxes in Bartonville are calculated based on the tax assessed value, typically lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bartonville'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 Bartonville or another part of Peoria County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bartonville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.8%
Estimate Property Tax Bill
$2,660
$2,600
Ownwell’s Bartonville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bartonville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bartonville to provide an accurate property tax estimate. This valuable tool helps you understand your potential tax liabilities, offering peace of mind and financial clarity. For those interested in more granular insights, you can explore trends at the neighborhood level by scrolling down to access localized information. Your property’s assessed value, determined by Peoria County, forms the basis for these calculations, taking into account any applicable exemptions.
Property Tax Rates Across Bartonville, Illinois
Property taxes in Bartonville, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bartonville is 2.80%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Bartonville set these rates annually, and they can vary considerably across different neighborhoods. Each year, Bartonville 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 Bartonville's effective property tax rate to other areas in Illinois and the national median. For comparison, the 61607 zip code has the highest median property tax rate of 2.80%, while the same zip code also records the lowest median tax rate of 2.80%. Understanding how these figures compare with Bartonville provides valuable insights into the varying tax landscape across Peoria County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bartonville Tax Rate
2.80%
Average Peoria County Tax Rate
2.68%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bartonville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61607 | 2.01% | 2.50% | 2.80% | 3.37% | 3.45% |
Source: Ownwell
Property Tax Assessment Values Across Bartonville, Illinois
In Bartonville, 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 Peoria County Assessor's 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. Assessment notices in Bartonville 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. Bartonville's median home price is $95,010, with tax bills ranging from $1,746 at the 25th percentile to $4,647 at the 90th percentile. The highest and lowest median tax bills are both $2,541, found in the 61607 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.
Average Bartonville Assessed Value
$95,010
Average Peoria County Assessed Value
$93,150
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bartonville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61607 | $35,994 | $69,960 | $95,010 | $126,405 | $161,985 |
Source: Ownwell
Property Tax Bills Across Bartonville, Illinois
In Bartonville, located in Peoria County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Various factors such as property size, location, and market conditions influence the assessed value. For example, the median home price in Bartonville is $95,010. Homeowners in the 25th percentile can expect a tax bill around $1,746, while those in the 75th percentile may see bills closer to $3,555. At the higher end, the 90th percentile tax bill reaches approximately $4,647. These figures illustrate how property taxes can vary significantly within the same area. Compared to the national median property tax rate of 0.99%, Bartonville's tax rates highlight the importance of understanding local property tax dynamics. Homeowners must consider these factors when budgeting for annual expenses, as property taxes can represent a significant portion of homeownership costs.
Average Bartonville Tax Bill
$2,541
Average Peoria County Tax Bill
$2,323
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Bartonville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61607 | $787 | $1,746 | $2,541 | $3,555 | $4,647 |
Source: Ownwell