Ridge Farm, Vermilion County, Illinois Property Taxes

Name: Property Tax Bills Across Ridge Farm, Vermilion County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Ridge Farm, IL effective property tax rate: 2.77%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Ridge Farm, IL home value: $54,904
Median annual Ridge Farm, IL tax bill: $1,272, $1,128 lower than the national median property tax bill of $2,400.

How are property taxes in Vermilion County calculated?

Property taxes in Ridge Farm, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Ridge Farm’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Ridge Farm, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Ridge Farm, Vermilion County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.77%

Estimate Property Tax Bill

$1,521

$1,411

Ownwell’s Ridge Farm Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ridge Farm with just two data points. By entering your property's estimated assessed value, our calculator applies Ridge Farm’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Vermilion County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Ridge Farm, Vermilion County, Illinois

Local government entities set tax rates, which can vary widely within a state. Each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell. Ridge Farm in Vermilion County, IL, has an effective property tax rate of 2.77%, which is significantly higher than the national median of 1.02%. This rate is also the highest and lowest in the area, as it remains consistent throughout. Property owners in Ridge Farm face property tax bills that are more than double the national median bill of $2400. This financial burden highlights the importance of understanding local tax rates and considering property tax appeal services to potentially reduce these costs. Comparing Ridge Farm's rates to other cities in Illinois and the U.S. underscores the variability of property tax obligations and the impact they can have on homeowners.

Property Tax Rates Across Ridge Farm, Vermilion County, Illinois

Source: Ownwell

2.05%

2.46%

2.86%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Ridge Farm Tax Rate

2.77%

Median Effective Vermilion County Tax Rate

2.53%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Ridge Farm, Vermilion County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61870	1.23%	2.00%	2.77%	3.07%	3.68%

Source: Ownwell

Property Tax Assessment Values Across Ridge Farm, Vermilion County, Illinois

When examining property taxes in Ridge Farm, Illinois, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Vermilion County assessment office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Vermilion County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Ridge Farm. For example, the median home price in Ridge Farm is $54,904, with tax bills ranging significantly across the county. ZIP code 61870 has the highest median home price at $54,904.

Property Tax Assessment Values Across Ridge Farm, Vermilion County, Illinois

Source: Ownwell

$28,646

$72,481

$116,316

Median Ridge Farm Market Value

$54,904

Median Vermilion County Market Value

$59,223

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Ridge Farm, Vermilion County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61870	$15,284	$31,873	$54,904	$86,728	$135,514

Source: Ownwell

Property Tax Bills Across Ridge Farm, Vermilion County, Illinois

In Ridge Farm, IL, located in Vermilion County, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is a percentage of the property's market value and is then multiplied by the local tax rate to determine the tax bill. With a median home price of $54,904, homeowners in Ridge Farm can expect their tax bills to vary significantly, from the 25th percentile at $630 to the 90th percentile reaching $3,300. The median tax bill in the area stands at $1,272, which is below the national median of $2,400. This discrepancy highlights the potential for savings, especially when compared to the national median property tax rate of 1.02%. Homeowners in Ridge Farm can benefit from Ownwell's expertise in appealing property tax assessments and securing exemptions. By leveraging local knowledge and strategic insights, Ownwell helps homeowners reduce their tax burden, ensuring they only pay their fair share and potentially saving them hundreds of dollars annually.

Property Tax Bills Across Ridge Farm, Vermilion County, Illinois

Source: Ownwell

$561

$1,728

$2,894

Median Ridge Farm Tax Bill

$1,272

Median Vermilion County Tax Bill

$1,325

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Ridge Farm, Vermilion County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61870	$328	$630	$1,272	$2,238	$3,300

Source: Ownwell