Dawson, Illinois Property Taxes
The median property tax rate in Dawson, IL is 1.90%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Dawson at $155,260, the typical annual property tax bill reaches $2,767, exceeding the national median of $2,690. Property taxes in Dawson 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 Dawson'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 Dawson 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
Dawson, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Dawson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dawson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dawson 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 Dawson, Illinois
Property taxes in Dawson, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dawson is 1.90%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Dawson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dawson 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 Dawson's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62520 has both the highest and lowest median property tax rate of 1.90%. Understanding how these cities compare with Dawson provides valuable insights into the varying tax landscape across Sangamon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dawson Tax Rate
1.90%
Average Sangamon County Tax Rate
2.31%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dawson, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62520 | 1.43% | 1.71% | 1.90% | 1.98% | 2.06% |
Source: Ownwell
Property Tax Assessment Values Across Dawson, Illinois
In Dawson, 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 Sangamon 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 Dawson, 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 Dawson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,767, found in the 62520 zip code.
Average Dawson Assessed Value
$155,260
Average Sangamon County Assessed Value
$144,820
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dawson, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62520 | $60,028 | $95,618 | $155,260 | $213,027 | $264,002 |
Source: Ownwell
Property Tax Bills Across Dawson, Illinois
In Dawson, property tax bills are calculated based on the assessed value of a home, which is determined by the Sangamon County Assessor. The assessed value is a percentage of the property's market value, and this value is then multiplied by the local tax rate to determine the annual tax bill. For Dawson, the median home price is $155,260. Homeowners in the 25th percentile face tax bills around $1,517, while those in the 75th percentile see bills near $4,084. At the 90th percentile, the tax bill can rise to approximately $5,094. The highest and lowest median tax bills in the area are both $2,767, occurring in zip code 62520. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Compared to the national median property tax rate of 0.99%, Dawson's property taxes can vary significantly, influencing homeowners' financial planning and budgeting.
Average Dawson Tax Bill
$2,767
Average Sangamon County Tax Bill
$3,283
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Dawson, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62520 | $934 | $1,517 | $2,767 | $4,084 | $5,094 |
Source: Ownwell