Prairie Du Rocher, Illinois Property Taxes
The median property tax rate in Prairie du Rocher, IL is 2.00%, 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 Prairie du Rocher, the typical annual property tax bill reaches $377, significantly below the national median of $2,690. Property taxes in Prairie du Rocher 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 Prairie du Rocher'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 Prairie du Rocher 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
Prairie Du Rocher, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2%
Estimate Property Tax Bill
$376
$349
Ownwell’s Prairie du Rocher Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Prairie du Rocher. Simply input your property's estimated assessed value, and the calculator will apply the median tax rate in Prairie du Rocher to give you an idea of your property tax bill. This tool provides a clear understanding of your potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends and localized information, additional insights are available by scrolling down. Your property’s assessed value is determined by Randolph County for tax calculations and may include applicable exemptions.
Property Tax Rates Across Prairie Du Rocher, Illinois
Property taxes in Prairie du Rocher, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prairie du Rocher is 2.00%, significantly higher than the U.S. national median of 0.99%. Local government entities within Prairie du Rocher set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prairie du Rocher 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 Prairie du Rocher's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62277 has both the highest and lowest median property tax rate of 2.00%. Understanding how these areas compare with Prairie du Rocher provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prairie Du Rocher Tax Rate
2.00%
Average Randolph County Tax Rate
2.00%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prairie Du Rocher, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62277 | 1.87% | 1.87% | 2.00% | 2.00% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Prairie Du Rocher, Illinois
In Prairie du Rocher, 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 Randolph 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 Prairie du Rocher, 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. The median home price in Prairie du Rocher is $18,795, with tax bills ranging from $126 at the 25th percentile to $1,108 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Prairie Du Rocher, Illinois
Source: Ownwell
$2,460
$55,643
$108,825
Average Prairie Du Rocher Assessed Value
$18,795
Average Randolph County Assessed Value
$47,528
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prairie Du Rocher, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62277 | $3,426 | $6,285 | $18,795 | $41,790 | $57,069 |
Source: Ownwell
Property Tax Bills Across Prairie Du Rocher, Illinois
In Prairie du Rocher, located in Randolph County, IL, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Homeowners in Prairie du Rocher experience varying tax bills. For instance, the 25th percentile tax bill is around $126, while the 75th percentile tax bill is approximately $838. At the higher end, the 90th percentile tax bill reaches about $1,108. These figures highlight the range of property tax obligations within the area. Comparatively, the median home price in Prairie du Rocher is $18,795, which is significantly lower than national averages. This lower home price, combined with the local tax rate, results in a more affordable property tax burden for many homeowners. Understanding these factors helps homeowners anticipate and manage their annual property tax responsibilities effectively.
Average Prairie Du Rocher Tax Bill
$377
Average Randolph County Tax Bill
$1,100
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Prairie Du Rocher, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62277 | $69 | $126 | $377 | $838 | $1,108 |
Source: Ownwell