Alto Pass, Illinois Property Taxes
The median property tax rate in Alto Pass, IL is 2.31%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Alto Pass at $86,174, the typical annual property tax bill reaches $1,652, which is below the national median of $2,690. Property taxes in Alto Pass 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 Alto Pass'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 Alto Pass or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alto Pass, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$1,991
$1,945
Ownwell’s Alto Pass Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alto Pass with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alto Pass 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 Alto Pass, Illinois
Property taxes in Alto Pass, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alto Pass is 2.31%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Alto Pass set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alto Pass 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 Alto Pass's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62905 zip code has the highest median property tax rate of 2.31%, while the same zip code also has the lowest median tax rate of 2.31%. Understanding how these cities compare with Alto Pass provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alto Pass Tax Rate
2.31%
Average Jackson County Tax Rate
2.84%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alto Pass, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62905 | 1.31% | 1.67% | 2.31% | 2.53% | 2.88% |
Source: Ownwell
Property Tax Assessment Values Across Alto Pass, Illinois
In Alto Pass, 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 Jackson 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 Alto Pass, 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 Alto Pass helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Alto Pass is $86,174, with the 25th percentile tax bill at $1,001 and the 75th percentile tax bill at $3,394. The highest and lowest median tax bills are both $1,652 in zip code 62905.
Average Alto Pass Assessed Value
$86,174
Average Jackson County Assessed Value
$84,759
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alto Pass, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62905 | $32,589 | $59,895 | $86,174 | $137,602 | $224,594 |
Source: Ownwell
Property Tax Bills Across Alto Pass, Illinois
In Alto Pass, located in Jackson County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Alto Pass face a median property tax rate of 1.65%, significantly higher than the national median of 0.99%. For a median home price of $86,174, this translates to an annual tax bill of approximately $1,652. Factors such as local tax levies, school district funding needs, and municipal services contribute to the overall tax rate. Homeowners at the 25th percentile can expect a tax bill around $1,001, while those at the 75th percentile may see bills as high as $3,394. The top 10% of homeowners face tax bills up to $5,339. These property taxes fund essential services like education, public safety, and infrastructure, directly impacting the quality of life in Alto Pass. Understanding these factors can help homeowners anticipate their annual tax obligations and better manage their finances.
Average Alto Pass Tax Bill
$1,652
Average Jackson County Tax Bill
$2,391
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Alto Pass, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62905 | $728 | $1,001 | $1,652 | $3,394 | $5,339 |
Source: Ownwell