Xenia, Illinois Property Taxes
The median property tax rate in Xenia, IL is 1.83%, considerably higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With the median home value in Xenia at $41,679, the typical annual property tax bill reaches $659, which is significantly below the national median of $2,690. Property taxes in Xenia are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Xenia'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 Xenia or another part of Clay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Xenia, 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 Xenia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Xenia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Xenia to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Xenia, Illinois
Property taxes in Xenia, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Xenia is 1.83%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Xenia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Xenia 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 Xenia's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62899 zip code has the highest median property tax rate of 1.83%, while the same zip code also has the lowest median tax rate of 1.83%. Understanding how these cities compare with Xenia provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Xenia Tax Rate
1.83%
Average Clay County Tax Rate
1.78%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Xenia, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62899 | 0.35% | 1.02% | 1.83% | 2.31% | 2.85% |
Source: Ownwell
Property Tax Assessment Values Across Xenia, Illinois
In Xenia, 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 local 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 Xenia, 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 Xenia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 62899 has the highest and lowest median tax bill of $659.
Average Xenia Assessed Value
$41,679
Average Clay County Assessed Value
$42,012
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Xenia, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62899 | $13,646 | $23,330 | $41,679 | $83,216 | $109,826 |
Source: Ownwell
Property Tax Bills Across Xenia, Illinois
In Xenia, located in Clay County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is typically a percentage of the market value of the property. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, the median home price in Xenia stands at $41,679. Homeowners in the 25th percentile of tax bills pay around $206, while those in the 75th percentile pay approximately $1,511 annually. At the higher end, the 90th percentile tax bill reaches $2,336. The highest median tax bill recorded in the area is $659, which also represents the lowest median tax bill, indicating a uniform rate across different areas within the same zip code. These property taxes fund essential local services like schools, public safety, and infrastructure, directly impacting homeowners by contributing to the overall quality of life in the community.
Average Xenia Tax Bill
$659
Average Clay County Tax Bill
$639
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Xenia, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62899 | $66 | $206 | $659 | $1,511 | $2,336 |
Source: Ownwell