Greenville, Illinois Property Taxes
The median property tax rate in Greenville, IL is 1.32%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Greenville at $126,420, the typical annual property tax bill reaches $1,694, which is below the national median of $2,690. Property taxes in Greenville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Greenville'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 Greenville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenville, 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 Greenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenville 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 Greenville, Illinois
Property taxes in Greenville, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenville is 1.32%, higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Greenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenville 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 Greenville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62246 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Greenville 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 Greenville Tax Rate
1.32%
Average Clinton County Tax Rate
2.02%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62246 | 0.94% | 1.09% | 1.32% | 1.56% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Greenville, Illinois
In Greenville, 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 Greenville, 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. For instance, the median home price in Greenville is $126,420, with tax bills ranging from $1,365 at the 25th percentile to $2,221 at the 90th percentile. 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 Greenville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Greenville Assessed Value
$126,420
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 Greenville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62246 | $123,012 | $124,290 | $126,420 | $128,550 | $129,828 |
Source: Ownwell
Property Tax Bills Across Greenville, Illinois
In Greenville, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Greenville, the median home price is $126,420. Property tax bills can vary significantly, with the 25th percentile at $1,365 and the 75th percentile at $2,023. The highest median tax bill in the area is $1,694, which is notably higher than the national median property tax rate of 0.99%. This variation in tax bills can impact homeowners' financial planning and budgeting. High property taxes may affect the affordability of owning a home, while lower taxes can provide some financial relief. Understanding these factors can help homeowners better anticipate their annual expenses.
Average Greenville Tax Bill
$1,694
Average Clinton County Tax Bill
$2,760
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62246 | $1,168 | $1,365 | $1,694 | $2,023 | $2,221 |
Source: Ownwell