Allendale, Illinois Property Taxes
The median property tax rate in Allendale, IL is 1.76%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Allendale at $108,930, the typical annual property tax bill reaches $2,042, which is below the national median of $2,690. Property taxes in Allendale are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Allendale'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 Allendale 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
Allendale, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.76%
Estimate Property Tax Bill
$1,917
$1,873
Ownwell’s Allendale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allendale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allendale 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 Allendale, Illinois
Property taxes in Allendale, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allendale is 1.76%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Allendale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allendale 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 Allendale's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62410 zip code has the highest median property tax rate of 1.76%, while the same 62410 zip code also has the lowest median tax rate of 1.76%. Understanding how these cities compare with Allendale provides valuable insights into the varying tax landscape across Wabash County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allendale Tax Rate
1.76%
Average Wabash County Tax Rate
1.99%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allendale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62410 | 1.17% | 1.50% | 1.76% | 1.92% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Allendale, Illinois
In Allendale, 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 Wabash County Appraisal District 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 Allendale, 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 Allendale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Allendale is $2042 in the 62410 zip code, while the lowest median tax bill is also $2042 in the same zip code.
Average Allendale Assessed Value
$108,930
Average Wabash County Assessed Value
$80,445
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allendale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62410 | $6,420 | $75,810 | $108,930 | $166,215 | $216,642 |
Source: Ownwell
Property Tax Bills Across Allendale, Illinois
In Allendale, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, which in Allendale averages around $108,930. Homeowners in this area can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is approximately $1,215, while the 75th percentile reaches $3,119, and the 90th percentile can go up to $4,014. This variation is influenced by factors such as property size, location, and improvements. Comparatively, the median property tax rate in Allendale aligns closely with the national median of 0.99%. This means that homeowners in Allendale might find their tax obligations to be relatively typical when compared to other regions. However, specific zip codes like 62410 show a median tax bill of $2,042, reflecting localized differences within the county. These tax bills directly impact homeowners' annual expenses, making it crucial to understand the factors that influence their property tax liabilities.
Average Allendale Tax Bill
$2,042
Average Wabash County Tax Bill
$1,448
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Allendale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62410 | $625 | $1,215 | $2,042 | $3,119 | $4,014 |
Source: Ownwell