Lyndon, Illinois Property Taxes
The median property tax rate in Lyndon, Illinois is 2.24%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Lyndon, the typical annual property tax bill reaches $1,651, which is below the national median of $2,690. Property taxes in Lyndon 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 Lyndon'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 Lyndon or another part of Whiteside County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lyndon, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.24%
Estimate Property Tax Bill
$1,796
$1,755
Ownwell’s Lyndon Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lyndon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyndon to provide an estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by Whiteside County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lyndon, Illinois
Property taxes in Lyndon, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyndon is 2.24%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Lyndon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyndon 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 Lyndon's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61261 zip code has the highest median property tax rate of 2.24%, while the same zip code also has the lowest median tax rate of 2.24%. Understanding how these cities compare with Lyndon provides valuable insights into the varying tax landscape across Whiteside County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lyndon Tax Rate
2.24%
Average Whiteside County Tax Rate
2.37%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyndon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61261 | 1.30% | 1.82% | 2.24% | 2.59% | 2.88% |
Source: Ownwell
Property Tax Assessment Values Across Lyndon, Illinois
In Lyndon, 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 Whiteside 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 Lyndon, 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 Lyndon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $1651 in the 61261 zip code, while the lowest is also $1651 in the same zip code.
Average Lyndon Assessed Value
$80,166
Average Whiteside County Assessed Value
$92,852
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lyndon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61261 | $26,403 | $53,457 | $80,166 | $113,244 | $147,504 |
Source: Ownwell
Property Tax Bills Across Lyndon, Illinois
In Lyndon, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, determined by the county assessor. Several factors influence this valuation, including the home's location, size, and condition. For instance, the median home price in Lyndon is $80,166. Homeowners in Lyndon see a wide range of property tax bills. The 25th percentile tax bill is $932, while the 75th percentile reaches $2,480. At the 90th percentile, homeowners may pay as much as $3,303. These figures highlight the variability based on property values and assessments. Comparatively, the national median property tax rate is 0.99%, underscoring how Lyndon's tax bills can significantly differ from the national average. For homeowners, understanding these factors is crucial for financial planning and anticipating annual property tax obligations.
Average Lyndon Tax Bill
$1,651
Average Whiteside County Tax Bill
$2,245
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyndon, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61261 | $476 | $932 | $1,651 | $2,480 | $3,303 |
Source: Ownwell