Littleton, Illinois Property Taxes
The median property tax rate in Littleton, Illinois is 2.03%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Littleton at $49,602, the typical annual property tax bill reaches $882, still below the national median of $2,690. Property taxes in Littleton 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 Littleton'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 Littleton 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
Littleton, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.03%
Estimate Property Tax Bill
$1,007
$934
Ownwell’s Littleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Littleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Littleton 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 Littleton, Illinois
Property taxes in Littleton, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Littleton is 2.03%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Littleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Littleton 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 Littleton's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61452 zip code has the highest median property tax rate of 2.03%, while the same zip code also has the lowest median tax rate of 2.03%. Understanding how these cities compare with Littleton provides valuable insights into the varying tax landscape across Schuyler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Littleton Tax Rate
2.03%
Average Schuyler County Tax Rate
2.25%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Littleton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61452 | 0.69% | 1.48% | 2.03% | 2.57% | 2.65% |
Source: Ownwell
Property Tax Assessment Values Across Littleton, Illinois
In Littleton, 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 Schuyler 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 Littleton, 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 Littleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Littleton both stand at $882 in the 61452 zip code, highlighting a unique uniformity in the area.
Average Littleton Assessed Value
$49,602
Average Schuyler County Assessed Value
$67,204
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Littleton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61452 | $9,695 | $23,262 | $49,602 | $80,852 | $111,924 |
Source: Ownwell
Property Tax Bills Across Littleton, Illinois
In Littleton, Schuyler County, IL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value, which in Littleton is influenced by the median home price of $49,602. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, homeowners in the 25th percentile pay around $363, while those in the 75th percentile face a bill of approximately $1,684. At the higher end, the 90th percentile sees tax bills reaching up to $2,795. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners need to be aware of these costs as they can significantly impact their annual budget. Compared to the national median property tax rate of 0.99%, Littleton's tax bills reflect the local economic conditions and property values, ensuring that residents contribute fairly to community services.
Average Littleton Tax Bill
$882
Average Schuyler County Tax Bill
$1,400
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Littleton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61452 | $148 | $363 | $882 | $1,684 | $2,795 |
Source: Ownwell