Piatt County Property Taxes
The median property tax rate in Piatt County is 2.43%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Piatt County, the typical annual property tax bill reaches $4,197, exceeding the national median of $2,690. Property taxes in Piatt County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Piatt County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Monticello or another part of Piatt County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Piatt County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.43%
Estimate Property Tax Bill
$4,053
$3,960
Ownwell’s Piatt County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Piatt County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Piatt County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property's assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Piatt County, Illinois
Property taxes in Piatt County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Piatt County is 2.43%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Piatt County set these rates annually, and they can vary significantly between different areas within the county. Each year, Piatt County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Ivesdale has one of the higher property tax rates in Illinois at 13.39%, while the city of Seymour boasts one of the lowest at 1.71%. Analyzing how Piatt County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Piatt County Tax Rate
2.43%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piatt County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Atwood | 2.12% | 2.36% | 2.59% | 2.91% | 2.93% |
| Bement | 2.55% | 2.73% | 2.96% | 3.10% | 3.29% |
| Cerro Gordo | 2.26% | 2.59% | 2.77% | 2.83% | 2.87% |
| Cisco | 1.89% | 2.25% | 2.45% | 2.60% | 2.72% |
| De Land | 2.41% | 2.54% | 2.80% | 2.93% | 3.21% |
| Farmer City | 2.37% | 2.74% | 3.20% | 3.27% | 3.28% |
| Hammond | 2.36% | 2.67% | 2.85% | 2.93% | 3.06% |
| Ivesdale | 13.39% | 13.39% | 13.39% | 13.39% | 13.39% |
| La Place | 2.18% | 2.35% | 2.52% | 2.52% | 2.66% |
| Lovington | 2.42% | 2.48% | 2.57% | 2.66% | 2.72% |
| Mahomet | 2.75% | 2.78% | 2.80% | 2.81% | 2.83% |
| Mansfield | 2.29% | 2.73% | 2.94% | 3.05% | 3.26% |
| Milmine | 2.46% | 2.66% | 2.87% | 3.04% | 3.14% |
| Monticello | 1.77% | 2.03% | 2.22% | 2.29% | 2.52% |
| Pierson Station | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% |
| Seymour | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% |
| Weldon | 2.63% | 2.64% | 2.66% | 2.89% | 3.02% |
| White Heath | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Piatt County, Illinois
In Piatt County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Piatt County Appraisal District. The assessed value, however, 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 Piatt County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, Ivesdale has the highest median tax bill at $10,314, while Pierson Station has the lowest at $935. Being aware of these valuation processes in Piatt County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Piatt County Assessed Value
$166,770
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Piatt County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Atwood | $24,072 | $68,400 | $123,234 | $218,380 | $239,766 |
| Bement | $44,940 | $80,329 | $185,864 | $319,799 | $436,211 |
| Cerro Gordo | $18,008 | $76,554 | $197,136 | $321,167 | $565,989 |
| Cisco | $58,483 | $87,397 | $149,090 | $231,098 | $449,761 |
| De Land | $98,217 | $169,130 | $305,199 | $417,662 | $677,667 |
| Farmer City | $19,855 | $132,846 | $185,325 | $389,829 | $855,966 |
| Hammond | $50,168 | $134,384 | $178,656 | $284,265 | $424,033 |
| Ivesdale | $77,046 | $77,046 | $77,046 | $77,046 | $77,046 |
| La Place | $48,338 | $61,010 | $94,701 | $111,601 | $159,960 |
| Lovington | $138,114 | $161,123 | $199,472 | $237,820 | $260,829 |
| Mahomet | $162,536 | $178,779 | $203,332 | $233,587 | $260,091 |
| Mansfield | $71,324 | $116,852 | $218,505 | $340,216 | $444,788 |
| Milmine | $79,386 | $124,186 | $252,826 | $455,824 | $1,943,108 |
| Monticello | $50,185 | $103,464 | $150,564 | $231,904 | $419,177 |
| Pierson Station | $36,990 | $36,990 | $36,990 | $36,990 | $36,990 |
| Seymour | $137,205 | $137,205 | $137,205 | $137,205 | $137,205 |
| Weldon | $226,193 | $264,099 | $327,276 | $351,782 | $366,485 |
| White Heath | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Piatt County, Illinois
In Piatt 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 Piatt County is $166,770. Property tax rates are applied to this assessed value to determine the tax bill. Several factors influence the final amount, including local tax rates and any applicable exemptions or deductions. Homeowners in Piatt County can expect a wide range of property tax bills. For example, the 25th percentile tax bill is around $2,569, while the 75th percentile reaches $7,613. At the higher end, the 90th percentile tax bill is approximately $12,402. The city with the highest median tax bill is Ivesdale, averaging $10,314, whereas Pierson Station has the lowest median tax bill at $935. These property taxes significantly impact homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Piatt County's rates can be relatively high, affecting affordability and long-term investment decisions for residents.
Average Piatt County Tax Bill
$4,197
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Piatt County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Atwood | $872 | $2,078 | $3,420 | $5,322 | $6,539 |
| Bement | $1,709 | $2,860 | $5,530 | $9,465 | $14,139 |
| Cerro Gordo | $1,840 | $3,402 | $5,799 | $8,459 | $15,191 |
| Cisco | $1,520 | $1,807 | $4,013 | $5,965 | $11,530 |
| De Land | $2,941 | $4,237 | $8,807 | $13,711 | $18,867 |
| Farmer City | $2,896 | $3,943 | $6,510 | $12,768 | $27,409 |
| Hammond | $1,257 | $3,567 | $5,297 | $8,553 | $11,811 |
| Ivesdale | $10,314 | $10,314 | $10,314 | $10,314 | $10,314 |
| La Place | $1,260 | $1,312 | $2,105 | $2,213 | $2,506 |
| Lovington | $3,396 | $4,099 | $5,270 | $6,442 | $7,145 |
| Mahomet | $4,471 | $4,969 | $5,729 | $6,603 | $7,307 |
| Mansfield | $2,258 | $3,349 | $6,725 | $9,720 | $13,146 |
| Milmine | $3,141 | $3,519 | $6,623 | $13,707 | $56,549 |
| Monticello | $1,590 | $2,391 | $3,412 | $6,056 | $10,308 |
| Pierson Station | $935 | $935 | $935 | $935 | $935 |
| Seymour | $2,347 | $2,347 | $2,347 | $2,347 | $2,347 |
| Weldon | $5,996 | $6,962 | $8,572 | $10,135 | $11,072 |
| White Heath | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell