Pocahontas, Illinois Property Taxes
The median property tax rate in Pocahontas, IL, is 1.87%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Pocahontas at $87,870, the typical annual property tax bill reaches $1,612, which still exceeds the national median of $2,690. Property taxes in Pocahontas 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 Pocahontas'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 Pocahontas 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
Pocahontas, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.87%
Estimate Property Tax Bill
$1,643
$1,606
Ownwell’s Pocahontas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pocahontas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pocahontas 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 Pocahontas, Illinois
Property taxes in Pocahontas, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pocahontas is 1.87%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Pocahontas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pocahontas 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 Pocahontas's effective property tax rate to other counties in Illinois and the national median. For comparison, the highest median property tax rate in Clinton County is also 1.87%, while the lowest median tax rate is the same at 1.87%. Understanding how these cities compare with Pocahontas 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 Pocahontas Tax Rate
1.87%
Average Clinton County Tax Rate
2.02%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pocahontas, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62275 | 1.33% | 1.63% | 1.87% | 2.17% | 2.52% |
Source: Ownwell
Property Tax Assessment Values Across Pocahontas, Illinois
In Pocahontas, 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 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 Pocahontas, 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 Pocahontas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,612, found in the 62275 zip code, which also has the lowest median tax bill at the same amount.
Average Pocahontas Assessed Value
$87,870
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 Pocahontas, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62275 | $18,767 | $49,140 | $87,870 | $154,650 | $250,200 |
Source: Ownwell
Property Tax Bills Across Pocahontas, Illinois
In Pocahontas, IL, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this value. For example, with a median home price of $87,870, the assessed value is calculated, and the applicable tax rate is then applied. The median property tax rate in Illinois is notably higher than the national median rate of 0.99%, which impacts homeowners significantly. Homeowners in Pocahontas can expect tax bills that vary widely. The 25th percentile tax bill is around $915, while the 75th percentile reaches $3,239. For those at the higher end, the 90th percentile tax bill can be as much as $5,447. These variations are influenced by factors such as property location, home improvements, and local government budgets. The highest median tax bill in the area is $1,612, found in the 62275 zip code. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Pocahontas Tax Bill
$1,612
Average Clinton County Tax Bill
$2,760
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Pocahontas, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62275 | $406 | $915 | $1,612 | $3,239 | $5,447 |
Source: Ownwell