Damiansville, Illinois Property Taxes
The median property tax rate in Damiansville, IL is 2.14%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $152,490 in Damiansville, the typical annual property tax bill reaches $3,062, surpassing the national median of $2,690. Property taxes in Damiansville are calculated based on the tax assessed value, which usually falls below the market value owing to various exemptions like the primary residence and agricultural exemptions. Understanding Damiansville'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 Damiansville or another part of Clinton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Damiansville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.14%
Estimate Property Tax Bill
$3,263
$3,189
Ownwell’s Damiansville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Damiansville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Damiansville 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 Damiansville, Illinois
Property taxes in Damiansville, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Damiansville is 2.14%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Damiansville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Damiansville 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 Damiansville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62215 zip code has the highest median property tax rate of 2.14%, while the same zip code also has the lowest median tax rate of 2.14%. Understanding how these areas compare with Damiansville provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Damiansville Tax Rate
2.14%
Average Clinton County Tax Rate
2.02%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Damiansville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62215 | 1.66% | 1.99% | 2.14% | 2.25% | 2.42% |
Source: Ownwell
Property Tax Assessment Values Across Damiansville, Illinois
In Damiansville, 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 Clinton County 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 Damiansville, 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 Damiansville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 62215 has the highest and lowest median tax bill at $3,062.
Average Damiansville Assessed Value
$152,490
Average Clinton County Assessed Value
$140,970
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Damiansville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62215 | $71,256 | $108,810 | $152,490 | $197,070 | $279,510 |
Source: Ownwell
Property Tax Bills Across Damiansville, Illinois
In Damiansville, located in Clinton 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 tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, the median home price in Damiansville is $152,490, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $2,092, while those in the 75th percentile face bills of about $4,316. The top 10% of property tax bills can reach up to $6,215. These taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services, directly affecting homeowners and the community. With a median property tax rate that reflects local funding needs, Damiansville's tax bills can be compared to the national median rate of 0.99%.
Average Damiansville Tax Bill
$3,062
Average Clinton County Tax Bill
$2,760
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Damiansville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62215 | $1,327 | $2,092 | $3,062 | $4,316 | $6,215 |
Source: Ownwell