How much are property taxes in Potomac, IL?
Homeowners in Potomac, IL pay a median of $1,650 (±$371) a year in real estate taxes (2020–2024 American Community Survey, table B25103).
Homes with a mortgage pay a median of $1,942.
Homes without a mortgage pay a median of $1,417.
That is about 1.7% of the median home value of $95,500.
In Potomac, the median real estate tax went from $1,272 in 2015–2019 to $1,650 in 2020–2024 (+29.7%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- Median real estate taxes
- $1,650 (±$371)
- With a mortgage
- $1,942
- Without a mortgage
- $1,417
- Share of median value
- 1.7%
Real estate taxes in Potomac against Vermilion County, its state and the nation
| Potomac | Vermilion County | Illinois | United States | |
|---|---|---|---|---|
| Median real estate taxes | $1,650 (±$371) | $1,757 (±$82) | $5,298 (±$22) | $3,119 |
| Homes with a mortgage | $1,942 (±$561) | $2,363 (±$147) | $5,833 (±$28) | $3,489 |
| Homes without a mortgage | $1,417 (±$527) | $1,378 (±$101) | $4,463 (±$30) | $2,576 |
| Median home value | $95,500 (±$8,738) | $97,200 (±$3,349) | $263,300 (±$797) | $332,700 |
In Potomac, the median real estate tax is not measurably different from Vermilion County ($1,757).
It is also lower than in Illinois ($5,298).
It is lower than the national figure ($3,119).
In Vermilion County, Potomac ranks 20 of 38 places with a published estimate, from highest to lowest median real estate taxes.
Statewide, it ranks 2007 of 2,625.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
Taxes as a share of home value in Potomac
The median tax ($1,650) is 1.7% of the median home value ($95,500).
Across Vermilion County the same ratio is 1.8%.
Across Illinois it is 2.0%.
This is a ratio of two medians, a rough effective rate: not the tax rate or mill rate the town, county or school district sets, and not any one home’s bill.
Owners report what they paid and what they think their home is worth; the assessor’s office publishes the actual rates and assessments.
How property taxes in Potomac have changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median real estate taxes | $1,272 (±$170) | $1,650 (±$371) | +29.7% | No measurable change after inflation |
| Median home value | $76,400 (±$4,162) | $95,500 (±$8,738) | +25.0% | No measurable change after inflation |
| Median owner cost with a mortgage | $805 (±$83) | $1,085 (±$105) | +34.8% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median real estate taxes in places near Potomac
| Place | Distance | Median real estate taxes | Compared with this place |
|---|---|---|---|
| Potomac | — | $1,650 (±$371) | — |
| Middlefork Township | 2.3 mi | $1,771 (±$261) | Not measurably different |
| Henning | 5.1 mi | $1,429 (±$406) | Not measurably different |
| Pilot Township (Vermilion County) | 6.8 mi | $2,625 (±$583) | Higher |
| South Ross Township | 7.7 mi | $1,959 (±$390) | Not measurably different |
| Blount Township | 8.2 mi | $3,529 (±$485) | Higher |
| Rossville | 8.5 mi | $1,974 (±$375) | Not measurably different |
| Butler Township | 8.9 mi | $2,521 (±$991) | Not measurably different |
| Ross Township (Vermilion County) | 9.4 mi | $2,030 (±$347) | Not measurably different |
Nearby places with a measurably higher figure: Pilot Township (Vermilion County), IL ($2,625), Blount Township, IL ($3,529).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median real estate taxes across Vermilion County, place by place
| Rank | Place | Median real estate taxes |
|---|---|---|
| 14 | Rossville | $1,974 (±$375) |
| 15 | South Ross Township | $1,959 (±$390) |
| 16 | Middlefork Township | $1,771 (±$261) |
| 17 | Fairmount | $1,750 (±$149) |
| 18 | Oakwood | $1,726 (±$217) |
| 19 | Danville | $1,683 (±$167) |
| 20 (tie) | Potomac | $1,650 (±$371) |
| 20 (tie) | Carroll Township | $1,650 (±$207) |
| 22 | Westville | $1,634 (±$335) |
| 23 | Elwood Township | $1,628 (±$308) |
| 24 | Georgetown Township | $1,558 (±$230) |
| 25 | Grant Township (Vermilion County) | $1,529 (±$1,198) |
| 26 | Ridge Farm | $1,500 (±$326) |
Showing 13 of 38 places in Vermilion County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Potomac
How much are property taxes in Potomac?
The median real estate tax paid by homeowners in Potomac, IL is $1,650 (±$371) a year (2020–2024 American Community Survey).
What is the property tax rate in Potomac?
The Census Bureau does not publish tax rates; as a rough guide, the median tax paid is 1.7% of the median home value in Potomac, and the actual rate is set by the town, county and school district.
Have property taxes in Potomac gone up?
In Potomac, the median real estate tax went from $1,272 in 2015–2019 to $1,650 in 2020–2024 (+29.7%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Are property taxes in Potomac higher than in Vermilion County?
In Potomac, the median real estate tax is not measurably different from Vermilion County ($1,757).
It is also lower than in Illinois ($5,298).
It is lower than the national figure ($3,119).
Sources
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Potomac village, Illinois
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Potomac village, Illinois
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2015–2019 ACS 5-year estimates — Potomac village, Illinois
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Potomac village, Illinois
- Median Selected Monthly Owner Costs (B25088), 2015–2019 ACS 5-year estimates — Potomac village, Illinois
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Potomac village, Illinois (place:61366, in state:17).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B25103_001E, B25103_001M, B25077_001E, B25077_001M, B25088_002E, B25088_002M from the 2019 release.
The API needs a free key.
B25103_001E, B25103_001M, B25103_002E, B25103_002M, B25103_003E, B25103_003M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
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- Home values in Potomac
- Homeowner costs in Potomac
- Types of homes in Potomac
- Bedrooms in Potomac
- Age of homes in Potomac
- Heating fuel in Potomac
- Commute and cars in Potomac
- How long people stay in Potomac
- Illinois landlord and tenant rules
- Housing across Vermilion County
- Illinois places ranked by property taxes
- Housing data for every place in Illinois