Alexis, Illinois Property Taxes
The median property tax rate in Alexis, IL is 1.61%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Alexis at $54,990, the typical annual property tax bill reaches $679, falling below the national median of $2,690. Property taxes in Alexis 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 Alexis'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 Alexis or another part of Warren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alexis, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$885
$865
Ownwell’s Alexis Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Alexis with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Alexis to provide an estimate of your property tax bill. This valuable tool helps you gain a clear understanding of your potential tax liabilities. For those interested in more detailed, neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Alexis, Illinois
Property taxes in Alexis, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alexis is 1.61%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Alexis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alexis 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 Alexis's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61412 zip code has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Alexis provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alexis Tax Rate
1.61%
Average Warren County Tax Rate
3.01%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alexis, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61412 | 0.81% | 1.09% | 1.61% | 2.51% | 2.63% |
Source: Ownwell
Property Tax Assessment Values Across Alexis, Illinois
In Alexis, 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 Warren 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 Alexis, 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. For instance, in the 61412 zip code, the median tax bill is $679. Being aware of these valuation processes in Alexis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Alexis Assessed Value
$54,990
Average Warren County Assessed Value
$47,250
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alexis, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61412 | $20,640 | $32,070 | $54,990 | $70,530 | $72,474 |
Source: Ownwell
Property Tax Bills Across Alexis, Illinois
In Alexis, located in Warren County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Alexis stands at $54,990, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as the home's location, size, and condition play a significant role in the assessment process. Homeowners in Alexis can expect their property tax bills to vary. For instance, the tax bill at the 25th percentile is $416, while at the 75th percentile, it rises to $1,367. The 90th percentile tax bill is $1,447, indicating a range of property tax liabilities within the community. The highest and lowest median tax bills in the area are both $679, found in the 61412 zip code. Compared to the national median property tax rate of 0.99%, Alexis homeowners experience a relatively moderate tax burden, which can impact their overall cost of living and financial planning.
Average Alexis Tax Bill
$679
Average Warren County Tax Bill
$1,310
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Alexis, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61412 | $271 | $416 | $679 | $1,367 | $1,447 |
Source: Ownwell