Average Tax Assessment in Livingston County
Real Estate Values and Property Tax Valuation in Livingston County, Illinois
Livingston County has a total of 2,035 properties with a cumulative value of $347.2M, representing 0.05% of all real estate value in Illinois. The average property tax rate in Livingston County is 3.06%, higher than the state average of 2.47%, and the average homeowner pays $5,251 in property taxes compared to the state average of $5,405. A total of $10.6M was collected in property taxes in Livingston County. Property taxes are calculated based on the assessed value of the property, which is typically lower than the market value.
In Illinois, property taxes are based on the value of the property as of January 1st. Property owners have the option to appeal their property taxes between June and December, or within 30 days of when the notices are published. Property tax bills are issued on February 1st and July 1st, with the first installment due on June 1st in Cook County. This first installment is estimated at 55% of the prior year's tax bill, with taxes paid in arrears.
Updated November 01, 2023
| Important Links | |
|---|---|
| Livingston Clerk of Court | (225) 686-2216 |
| Livingston Treasurer | (517) 546-7010 |
| Livingston County Clerk | (270) 928-2162 |
| Livingston Assessor | (660) 646-8000 2 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Tax Appeal Deadline: | June - December or 30 days after notices are published |
| Property Tax Bills Issued: | February 1st and July 1st |
| Real Property Tax Bill Due (1st of #): | June, Two installments but due dates may vary by county March 1st, Cook County - 1st half installment, estimated at 55% of prior year tax bill with taxes paid in arrears. |
| Real Property Tax Bill Due (2nd of #): | September, Two installments but due dates may vary by county August 1, Cook County - 2nd half installment - TARGETED but may be delayed - due 30 days after being issued. Reconciled installment using the BOR certified AV, actual local tax rate, and final state equalization factor, less the estimated 1st installment with taxes paid in arrears |
| Available Exemptions | |
|---|---|
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Livingston County
Residential Property Taxes by Cities in Livingston County
Livingston County has an average property tax rate of 3.06%, which is slightly higher than the national average of 2.79%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average property tax bill in Livingston County is $5,251.
Property tax rates in Livingston County vary across cities. Pontiac has the highest effective property tax rate at 3.04%, while Fairbury has the lowest effective property tax rate at 2.86%. This means that property owners in Pontiac will pay more in taxes than those in Fairbury. Property taxes collected in Livingston County in 2023 are estimated to be $10.6M.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Livingston County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Livingston County.
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
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Real Estate Values in Livingston County
The data from Redfin shows that the median home price in Livingston County decreased by 13.04% from October 2022 to October 2023. This suggests that the housing market in Livingston County is cooling off, as fewer homes are being sold and the prices are dropping. Additionally, the home inventory in Livingston County decreased by 28.85%, indicating that there is less housing supply in the area. This could be due to fewer people moving to the area or fewer people being able to afford the homes in the area. Overall, the data from Redfin suggests that the housing market in Livingston County is cooling off.
Average Home Value in Livingston County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Livingston County
Last updated: November 2023
Percent Change in New Home Listings in Livingston County
Last updated: November 2023
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Mortgage Rates in Livingston County
Livingston County has a total of $21.0M in outstanding home mortgage loans. This represents 187 loans, or about 0.3% of the total home value in the county. The median mortgage rate in Livingston County varies across cities, with Fairbury having the highest rate at 3.7%, and Pontiac having the lowest rate at 3.63%. This variation in rates across cities can be attributed to the different economic conditions in each city, as well as the availability of different loan products.
Overall, Livingston County has a relatively low amount of outstanding home mortgage loans, and the median mortgage rate is slightly lower than the national average. This makes Livingston County an attractive option for those looking to purchase a home, as the cost of borrowing is relatively low.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Livingston County by city.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Livingston County.
Housing Expenses in Livingston County, Illinois
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