Oakdale, Illinois Property Taxes
The median property tax rate in Oakdale, IL is 1.83%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Oakdale, the typical annual property tax bill reaches $721, which is below the national median of $2,690. Property taxes in Oakdale 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 Oakdale'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 Oakdale or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oakdale, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.83%
Estimate Property Tax Bill
$923
$856
Ownwell's Oakdale Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential property owners in estimating their annual property taxes in Oakdale with just two data points. By inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Oakdale to project your property tax bill. This valuable tool provides clarity on potential tax liabilities, helping you make informed decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value is determined by Washington County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Oakdale, Illinois
Property taxes in Oakdale, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakdale is 1.83%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Oakdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakdale 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 Oakdale's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62268 zip code has the highest median property tax rate of 1.83%, while the same zip code also has the lowest median tax rate of 1.83%. Understanding how these cities compare with Oakdale provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oakdale Tax Rate
1.83%
Average Washington County Tax Rate
2.25%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakdale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62268 | 0.89% | 1.39% | 1.83% | 2.49% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Oakdale, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oakdale, Illinois. 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 Washington 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 Oakdale, 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 Oakdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Oakdale is $50,430, with the highest median tax bill being $721 in the 62268 zip code.
Average Oakdale Assessed Value
$50,430
Average Washington County Assessed Value
$38,358
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oakdale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62268 | $4,773 | $21,084 | $50,430 | $70,320 | $85,170 |
Source: Ownwell
Property Tax Bills Across Oakdale, Illinois
In Oakdale, Washington County, IL, property tax bills are calculated based on the assessed value of a property, which is determined by county assessors. The assessed value is a percentage of the market value, and this value is then multiplied by the local tax rate to calculate the tax bill. Various factors, including property type, location, and improvements, influence the assessed value. For homeowners in Oakdale, the median home price is $50,430. Property tax bills can vary significantly, with the 25th percentile at $226 and the 75th percentile at $1,254, reflecting differences in property values and assessment criteria. The 90th percentile tax bill reaches up to $1,706, indicating higher-valued properties or more substantial improvements. Compared to the national median property tax rate of 0.99%, Oakdale's property tax rate can have a considerable impact on homeowners, affecting their annual financial planning and long-term investment in their property. Understanding these factors helps homeowners anticipate and manage their property tax liabilities effectively.
Average Oakdale Tax Bill
$721
Average Washington County Tax Bill
$660
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakdale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62268 | $108 | $226 | $721 | $1,254 | $1,706 |
Source: Ownwell