Ina, Illinois Property Taxes
The median property tax rate in Ina, Illinois is 2.09%, considerably higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With the median home value in Ina, the typical annual property tax bill reaches $909, well below the national median of $2,690. Property taxes in Ina 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 Ina'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 Ina or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ina, 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 INA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in INA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in INA 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 Ina, Illinois
Property taxes in Ina, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ina is 2.09%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Ina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ina 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 Ina's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62846 zip code has the highest median property tax rate of 2.09%, while the same zip code also has the lowest median tax rate of 2.09%. Understanding how these cities compare with Ina provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ina Tax Rate
2.09%
Average Jefferson County Tax Rate
2.20%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ina, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62846 | 0.90% | 1.44% | 2.09% | 2.55% | 2.55% |
Source: Ownwell
Property Tax Assessment Values Across Ina, Illinois
In Ina, 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 local assessment authority 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 Ina, 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 Ina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Jefferson County, the highest and lowest median tax bills are both $909, found in the zip code 62846.
Average Ina Assessed Value
$48,423
Average Jefferson County Assessed Value
$61,827
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ina, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62846 | $11,214 | $22,875 | $48,423 | $86,376 | $143,418 |
Source: Ownwell
Property Tax Bills Across Ina, Illinois
In the city of Ina, located in Jefferson County, IL, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the market value of the home. For instance, with a median home price of $48,423, the tax bill can vary significantly. Factors such as the property's location, size, and any improvements made can influence the assessed value. Homeowners in Ina experience a range of property tax bills. At the 25th percentile, the tax bill is around $388, while at the 75th percentile, it rises to $1,711. For those at the 90th percentile, the tax bill can reach up to $3,059. These figures indicate a wide variation in tax obligations, reflecting differences in property values and specific assessments. Compared to the national median property tax rate of 0.99%, homeowners in Ina may find their tax bills relatively manageable, though individual circumstances can vary. Understanding these factors can help homeowners anticipate their financial responsibilities and plan accordingly.
Average Ina Tax Bill
$909
Average Jefferson County Tax Bill
$1,229
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Ina, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62846 | $125 | $388 | $909 | $1,711 | $3,059 |
Source: Ownwell