Fiatt, Fulton County, Illinois Property Taxes

Name: Property Tax Bills Across Fiatt, Fulton County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median FIATT, IL effective property tax rate: 2.69%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median FIATT, IL home value: $50,931
Median annual FIATT, IL tax bill: $535, $1,865 lower than the national median property tax bill of $2,400.

How are property taxes in Fulton calculated?

Property taxes in FIATT, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding FIATT’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in FIATT, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Fiatt, Fulton County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.69%

Estimate Property Tax Bill

$1,370

$1,271

Ownwell’s Fiatt Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fiatt with just two data points. By entering your property's estimated assessed value, our calculator applies Fiatt’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Fulton County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Fiatt, Fulton County, Illinois

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Fiatt’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Fiatt, Fulton County, Illinois

Source: Ownwell

1.39%

2.49%

3.59%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Fiatt Tax Rate

2.69%

Median Effective Fulton County Tax Rate

2.71%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Fiatt, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61433	1.59%	1.89%	2.69%	2.70%	2.70%

Source: Ownwell

Property Tax Assessment Values Across Fiatt, Fulton County, Illinois

When examining property taxes in Fiatt, Illinois, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Fulton County assessment office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Fulton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Fiatt. For example, the median home price in Fiatt is $50,931, with tax bills ranging significantly across the county. 61433 has the highest median home price at $50,931.

Property Tax Assessment Values Across Fiatt, Fulton County, Illinois

Source: Ownwell

$26,937

$71,044

$115,150

Median Fiatt Market Value

$50,931

Median Fulton County Market Value

$71,967

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Fiatt, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61433	$22,060	$32,493	$50,931	$60,165	$70,246

Source: Ownwell

Property Tax Bills Across Fiatt, Fulton County, Illinois

In Fiatt, located in Fulton County, IL, property tax bills are determined by the assessed value of a home, which is a percentage of its market value. With a median home price of $50,931, the property tax burden is relatively modest compared to the national median property tax bill of $2,400. Homeowners in Fiatt experience tax bills ranging from the 25th percentile at $533 to the 90th percentile at $1,127. Factors influencing these tax bills include local tax rates and the assessed value of the property. These taxes fund essential services such as schools, infrastructure, and emergency services, impacting the community's quality of life. However, many homeowners may be overpaying due to inaccurate assessments. This is where Ownwell can assist by reviewing your property tax assessment and filing appeals on your behalf. By leveraging their expertise, homeowners can potentially reduce their tax bills, ensuring they only pay their fair share, ultimately leading to significant savings.

Property Tax Bills Across Fiatt, Fulton County, Illinois

Source: Ownwell

$467

$949

$1,430

Median Fiatt Tax Bill

$535

Median Fulton County Tax Bill

$1,058

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Fiatt, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61433	$242	$533	$535	$1,048	$1,127

Source: Ownwell