Orion, Illinois Property Taxes
The median property tax rate in Orion, IL is 3.18%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Orion at $199,023, the typical annual property tax bill reaches $8,048, far exceeding the national median of $2,690. Property taxes in Orion 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 Orion'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 Orion or another part of Rock Island County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Orion, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.18%
Estimate Property Tax Bill
$6,329
$5,873
Ownwell’s Orion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orion 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 Orion, Illinois
Property taxes in Orion, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orion is 3.18%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Orion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orion 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 Orion's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61273 zip code has the highest median property tax rate of 3.18%, while the 61273 zip code also has the lowest median tax rate of 3.18%. Understanding how these cities compare with Orion 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 Orion Tax Rate
3.18%
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 Orion, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61273 | 2.95% | 3.05% | 3.18% | 3.48% | 4.17% |
Source: Ownwell
Property Tax Assessment Values Across Orion, Illinois
In Orion, 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 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 Orion, 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 Orion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Rock Island County, the median home price is $199,023, with tax bills ranging significantly. The 25th percentile tax bill is $4,755, while the 75th percentile tax bill is $12,448. The highest median tax bill in the county is $8,048 in the 61273 zip code, which is also the lowest median tax bill, indicating a lack of variance in this specific area.
Average Orion Assessed Value
$199,023
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 Orion, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61273 | $119,852 | $154,916 | $199,023 | $356,668 | $423,553 |
Source: Ownwell
Property Tax Bills Across Orion, Illinois
In Orion, Rock Island County, IL, property tax bills are determined by assessing the market value of a home and then applying the local property tax rate. The assessed value is typically a percentage of the market value, and this figure is then multiplied by the tax rate to calculate the annual tax bill. Various factors influence this calculation, including the home's location, size, and market conditions. For homeowners in Orion, the median home price stands at $199,023. Tax bills can vary significantly, with the 25th percentile tax bill at $4,755 and the 75th percentile reaching $12,448. The 90th percentile tax bill can go as high as $13,535. These figures highlight the range of property tax obligations homeowners might face. Compared to the national median property tax rate of 0.99%, homeowners in Orion may find their property taxes to be relatively high, impacting their overall cost of living and financial planning. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax expenses.
Average Orion Tax Bill
$8,048
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 Orion, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61273 | $4,297 | $4,755 | $8,048 | $12,448 | $13,535 |
Source: Ownwell