St Augustine, Illinois Property Taxes
The median property tax rate in ST AUGUSTINE, IL is 2.16%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in ST AUGUSTINE, the typical annual property tax bill reaches $416, which is significantly lower than the national median of $2,690. Property taxes in ST AUGUSTINE 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 ST AUGUSTINE'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 ST AUGUSTINE 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
St Augustine, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.16%
Estimate Property Tax Bill
$526
$514
Ownwell’s ST AUGUSTINE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ST AUGUSTINE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ST AUGUSTINE 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 St Augustine, Illinois
Property taxes in St. Augustine, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in St. Augustine is 2.16%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within St. Augustine set these rates annually, and they can vary significantly across different neighborhoods. Each year, St. Augustine 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 St. Augustine's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61474 zip code has both the highest and lowest median property tax rate of 2.16%. Understanding how these cities compare with St. Augustine provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average St Augustine Tax Rate
2.16%
Average Knox County Tax Rate
2.31%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across St Augustine, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61474 | 1.72% | 1.89% | 2.16% | 2.44% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across St Augustine, Illinois
In ST AUGUSTINE, 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 Knox 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 ST AUGUSTINE, 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 the area is $24,360, with tax bills ranging from $266 at the 25th percentile to $656 at the 90th percentile. Both the highest and lowest median tax bills in the region are $416, found in the 61474 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across St Augustine, Illinois
Source: Ownwell
$24,360
$1,314,377
$2,604,393
Average St Augustine Assessed Value
$24,360
Average Knox County Assessed Value
$78,330
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across St Augustine, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61474 | $8,304 | $14,325 | $24,360 | $34,395 | $40,416 |
Source: Ownwell
Property Tax Bills Across St Augustine, Illinois
In St. Augustine, IL, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in this region is $24,360. Local tax authorities use this assessed value to determine the tax bill. For instance, homeowners in the 25th percentile pay around $266 annually, while those in the 75th percentile face tax bills of approximately $566. At the 90th percentile, the tax bill can reach up to $656. Compared to the national median property tax rate of 0.99%, the tax rate in St. Augustine is relatively modest. This system ensures that property taxes are proportionate to the value of the home, thereby affecting homeowners differently based on their property's worth. The highest and lowest median tax bills in the region are both $416, indicating a consistent tax structure within Knox County. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average St Augustine Tax Bill
$416
Average Knox County Tax Bill
$1,699
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across St Augustine, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61474 | $176 | $266 | $416 | $566 | $656 |
Source: Ownwell