Dundas, Illinois Property Taxes
The median property tax rate in Dundas, IL is 1.97%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Dundas at $137,704, the typical annual property tax bill reaches $2,359, which is below the national median of $2,690. Property taxes in Dundas 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 Dundas'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 Dundas 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
Dundas, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.97%
Estimate Property Tax Bill
$2,713
$2,517
Ownwell’s Dundas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dundas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dundas 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 Dundas, Illinois
Property taxes in Dundas, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dundas is 1.97%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Dundas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dundas 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 Dundas's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62425 zip code has the highest median property tax rate of 1.97%, while the same zip code also holds the lowest median tax rate of 1.97%. Understanding how these cities compare with Dundas provides valuable insights into the varying tax landscape across Richland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dundas Tax Rate
1.97%
Average Richland County Tax Rate
1.98%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dundas, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62425 | 1.00% | 1.42% | 1.97% | 2.14% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Dundas, Illinois
In Dundas, 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 Richland 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 Dundas, 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. Being aware of these valuation processes in Dundas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dundas stands at $137,704. Homeowners in the 25th percentile face a tax bill of approximately $996, while those in the 75th percentile see bills around $4,047. Notably, the highest and lowest median tax bills both occur in the 62425 zip code, with a value of $2,359.
Average Dundas Assessed Value
$137,704
Average Richland County Assessed Value
$112,318
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dundas, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62425 | $43,311 | $79,172 | $137,704 | $203,081 | $272,984 |
Source: Ownwell
Property Tax Bills Across Dundas, Illinois
In Dundas, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local government determines this assessed value, and then the property tax rate, set by the county, is applied to it. For example, if a home has an assessed value of $137,704, the tax bill will be influenced by this valuation. Several factors contribute to the final tax bill, including the property's location, any applicable exemptions, and the specific tax rate of Richland County. Homeowners in Dundas can expect a wide range of tax bills. At the 25th percentile, tax bills are around $996, while at the 75th percentile, they can reach $4,047. The highest tax bills, at the 90th percentile, soar to $5,769. These tax bills significantly impact homeowners, affecting monthly mortgage payments and overall financial planning. Compared to the national median property tax rate of 0.99%, the rates in Dundas can vary widely, reflecting the diverse economic landscape of the area.
Average Dundas Tax Bill
$2,359
Average Richland County Tax Bill
$2,107
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Dundas, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62425 | $570 | $996 | $2,359 | $4,047 | $5,769 |
Source: Ownwell