Barstow, Illinois Property Taxes
The median property tax rate in Barstow, IL is 2.83%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Barstow at $64,676, the typical annual property tax bill reaches $1,766, surpassing the national median of $2,690. Property taxes in Barstow 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 Barstow'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 Barstow 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
Barstow, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.83%
Estimate Property Tax Bill
$1,830
$1,698
Ownwell’s Barstow Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Barstow with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Barstow to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available further down the page. Your property’s assessed value is determined by Rock Island County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Barstow, Illinois
Property taxes in Barstow, Illinois, are essential for funding local services like public schools, road maintenance, and emergency services. The median tax rate in Barstow is 2.83%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Barstow set these rates annually, and they can vary across different neighborhoods. Each year, Barstow 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 Barstow's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61236 zip code has the highest median property tax rate of 2.83%, while the same 61236 zip code also has the lowest median tax rate of 2.83%. Understanding how these cities compare with Barstow provides valuable insights into the varying tax landscape across Rock Island County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barstow Tax Rate
2.83%
Average Rock Island County Tax Rate
2.90%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barstow, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61236 | 2.00% | 2.62% | 2.83% | 2.98% | 3.55% |
Source: Ownwell
Property Tax Assessment Values Across Barstow, Illinois
In Barstow, 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 Rock Island County Assessor's 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 Barstow, 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 Barstow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 61236, with a median tax bill of $1,766.
Average Barstow Assessed Value
$64,676
Average Rock Island County Assessed Value
$104,406
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barstow, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61236 | $42,862 | $53,505 | $64,676 | $79,034 | $171,821 |
Source: Ownwell
Property Tax Bills Across Barstow, Illinois
In Barstow, located in Rock Island County, IL, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is typically a percentage of the property's market value. For example, a median home price in Barstow is $64,676. Once the assessed value is established, local tax rates, known as millage rates, are applied to this value to determine the tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific needs of the local government and school districts. In Rock Island County, property tax bills can vary significantly. For instance, tax bills at the 25th percentile are around $1,241, while those at the 75th percentile reach $2,345. At the 90th percentile, homeowners might see tax bills as high as $5,704. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting homeowners by contributing to the quality of community amenities and services.
Average Barstow Tax Bill
$1,766
Average Rock Island County Tax Bill
$2,928
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Barstow, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61236 | $1,033 | $1,241 | $1,766 | $2,345 | $5,704 |
Source: Ownwell