Cairo, Illinois Property Taxes
The median property tax rate in Cairo, Illinois is 5.81%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $9,579 in Cairo, the typical annual property tax bill is $457, which is notably lower than the national median of $2,690. Property taxes in Cairo are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Cairo'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 Cairo or another part of Alexander County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cairo, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Cairo Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cairo, IL, using just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Cairo to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 the county for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Cairo, Illinois
Property taxes in Cairo, Illinois, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Cairo is 5.81%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Cairo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cairo 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 Cairo's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62914 zip code has the highest median property tax rate of 5.81%, while the same zip code also has the lowest median tax rate of 5.81%. Understanding how these cities compare with Cairo provides valuable insights into the varying tax landscape across Alexander County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cairo Tax Rate
5.81%
Average Alexander County Tax Rate
2.47%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cairo, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62914 | 3.74% | 4.43% | 5.81% | 5.81% | 5.81% |
Source: Ownwell
Property Tax Assessment Values Across Cairo, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cairo, 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 Alexander County Assessor 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 Cairo, 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. The median home price in Cairo is $9,579, with tax bills ranging from the 25th percentile at $336 to the 90th percentile at $4,164. The zip code 62914 has the highest and lowest median tax bill at $457. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cairo Assessed Value
$9,579
Average Alexander County Assessed Value
$44,430
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cairo, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62914 | $4,466 | $5,838 | $9,579 | $24,404 | $75,260 |
Source: Ownwell
Property Tax Bills Across Cairo, Illinois
In Cairo, located in Alexander County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. Homeowners in Cairo experience a median home price of $9,579. The tax bill is then determined by applying the local property tax rate to this assessed value. Several factors influence the final tax bill, including the property's location within specific zip codes, with the highest and lowest median tax bills both recorded at $457 in zip code 62914. The variability in tax bills is evident, with the 25th percentile at $336 and the 75th percentile at $961, indicating a broad range of tax obligations among homeowners. For those in the 90th percentile, tax bills can soar to $4,164, significantly impacting household budgets. Compared to the national median property tax rate of 0.99%, Cairo's property tax landscape can be quite burdensome for some homeowners, emphasizing the importance of understanding local tax policies and potential exemptions.
Average Cairo Tax Bill
$457
Average Alexander County Tax Bill
$956
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Cairo, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62914 | $258 | $336 | $457 | $961 | $4,164 |
Source: Ownwell