Brookport, Illinois Property Taxes
The median property tax rate in Brookport, IL is 1.56%, which is considerably higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With the median home value in Brookport at $70,830, the typical annual property tax bill reaches $974, falling below the national median of $2,690. Property taxes in Brookport 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 Brookport'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 Brookport 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
Brookport, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$1,105
$1,080
Ownwell’s Brookport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brookport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brookport 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 Brookport, Illinois
Property taxes in Brookport, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brookport is 1.56%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Brookport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brookport 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 Brookport's effective property tax rate to other counties within Illinois and the national median. For comparison, the 62910 zip code has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Brookport provides valuable insights into the varying tax landscape across Massac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brookport Tax Rate
1.56%
Average Pope County Tax Rate
1.65%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brookport, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62910 | 0.67% | 1.17% | 1.56% | 1.91% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Brookport, Illinois
In Brookport, 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 local 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. Assessment notices in Brookport 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 Brookport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Brookport is $70,830, with tax bills ranging from $525 at the 25th percentile to $3,058 at the 90th percentile. The highest and lowest median tax bills are both $974 in zip code 62910.
Average Brookport Assessed Value
$70,830
Average Pope County Assessed Value
$84,555
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brookport, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62910 | $26,715 | $38,146 | $70,830 | $115,038 | $192,379 |
Source: Ownwell
Property Tax Bills Across Brookport, Illinois
In Brookport, located in Pope County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $70,830, homeowners can expect varying tax bills depending on the assessed value and applicable tax rates. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Brookport, the tax bills range significantly, with the 25th percentile at $525 and the 75th percentile reaching $1,653. At the 90th percentile, the tax bill can be as high as $3,058. This wide range demonstrates the variability in property values and tax rates within the area. For homeowners, understanding these factors is crucial as they directly impact annual financial obligations and long-term property affordability.
Average Brookport Tax Bill
$974
Average Pope County Tax Bill
$1,262
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Brookport, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62910 | $152 | $525 | $974 | $1,653 | $3,058 |
Source: Ownwell