Augusta, Illinois Property Taxes
The median property tax rate in Augusta, IL is 2.49%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $33,066 in Augusta, the typical annual property tax bill reaches $824, which is below the national median of $2,690. Property taxes in Augusta 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 Augusta'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 Augusta or another part of Hancock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Augusta, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.49%
Estimate Property Tax Bill
$823
$805
Ownwell’s Augusta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Augusta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Augusta 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 Augusta, Illinois
Property taxes in Augusta, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Augusta is 2.49%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Augusta set these rates annually, and they can vary across different neighborhoods. Each year, Augusta 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 Augusta's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62311 zip code has both the highest and lowest median property tax rate of 2.49%. Understanding how these cities compare with Augusta provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Augusta Tax Rate
2.49%
Average Hancock County Tax Rate
2.85%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Augusta, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62311 | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across Augusta, Illinois
In Augusta, 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 Hancock 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 Augusta, 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. The median home price in Augusta is $33,066, with the highest median tax bill being $824 in the 62311 zip code. 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 Augusta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Augusta Assessed Value
$33,066
Average Hancock County Assessed Value
$54,669
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Augusta, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62311 | $33,066 | $33,066 | $33,066 | $33,066 | $33,066 |
Source: Ownwell
Property Tax Bills Across Augusta, Illinois
In Augusta, Hancock County, IL, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor. This assessed value is a percentage of your home's market value. The tax rate, set by local taxing authorities, is then applied to this assessed value to determine your annual tax bill. For homeowners in Augusta, the median home price is $33,066, and the median property tax bill is $824. Factors such as property size, location, and any improvements or renovations can influence the assessed value. Despite the relatively low home prices, the property tax rate in this area means homeowners pay a significant portion of their property’s value in taxes. Compared to the national median property tax rate of 0.99%, Augusta’s effective rate results in a noticeable annual expense for homeowners. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Augusta Tax Bill
$824
Average Hancock County Tax Bill
$1,522
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Augusta, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62311 | $824 | $824 | $824 | $824 | $824 |
Source: Ownwell