Oakdale, Illinois Property Taxes
The median property tax rate in Oakdale, IL is 1.14%, notably higher than the national median of 0.99% but significantly lower than the Illinois state median of 2.35%. With a median home value in Oakdale, the typical annual property tax bill is $982, which is below the national median of $2,690. Property taxes in Oakdale are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Oakdale'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 Oakdale or another part of Perry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oakdale, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,160
$1,133
Ownwell’s Oakdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakdale 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 Perry County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Oakdale, Illinois
Property taxes in Oakdale, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakdale is 1.14%, higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Oakdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakdale 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 Oakdale's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62268 zip code has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Oakdale provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oakdale Tax Rate
1.14%
Average Perry County Tax Rate
1.89%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakdale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62268 | 0.81% | 0.84% | 1.14% | 1.55% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Oakdale, Illinois
In Oakdale, 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 Perry 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 Oakdale, 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. The median home price in Oakdale is $101,745, with tax bills ranging widely. For instance, the 25th percentile tax bill is $678, while the 75th percentile tax bill is $1,583, and the 90th percentile tax bill reaches $2,194. The zip code 62268 has the highest and lowest median tax bill at $982. 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 Oakdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oakdale Assessed Value
$101,745
Average Perry County Assessed Value
$82,294
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oakdale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62268 | $55,831 | $63,828 | $101,745 | $138,086 | $143,247 |
Source: Ownwell
Property Tax Bills Across Oakdale, Illinois
In Oakdale, located in Perry County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Oakdale is $101,745. Local tax rates are then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Oakdale can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is $678, while the 75th percentile is $1,583, and the 90th percentile reaches $2,194. These variations reflect differences in property values and local tax rates. Compared to the national median property tax rate of 0.99%, Oakdale's property taxes can be considered moderate. Understanding these factors helps homeowners budget effectively and anticipate their annual financial obligations. The highest and lowest median tax bills in the area are both $982, indicating some consistency in tax assessments across different properties.
Average Oakdale Tax Bill
$982
Average Perry County Tax Bill
$1,554
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakdale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62268 | $599 | $678 | $982 | $1,583 | $2,194 |
Source: Ownwell