Joppa, Illinois Property Taxes
The median property tax rate in Joppa, IL is 3.03%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Joppa, the typical annual property tax bill reaches $150, far below the national median of $2,690. Property taxes in Joppa 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 Joppa'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 Joppa 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
Joppa, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.03%
Estimate Property Tax Bill
$141
$138
Ownwell’s Joppa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Joppa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Joppa 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 Joppa, Illinois
Property taxes in Joppa, Illinois, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Joppa is 3.03%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Joppa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Joppa 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 Joppa's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62953 has the highest median property tax rate of 3.03%, while the same zip code also has the lowest median tax rate of 3.03%. Understanding how these cities compare with Joppa provides valuable insights into the varying tax landscape across Massac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Joppa Tax Rate
3.03%
Average Massac County Tax Rate
2.51%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Joppa, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62953 | 2.33% | 2.62% | 3.03% | 3.03% | 3.03% |
Source: Ownwell
Property Tax Assessment Values Across Joppa, Illinois
In Joppa, 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 Massac 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 Joppa, 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. For instance, the median home price in Joppa is $4,650, with tax bills ranging from $89 at the 25th percentile to $1,259 at the 90th percentile. 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 Joppa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Joppa Assessed Value
$4,650
Average Massac County Assessed Value
$60,801
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Joppa, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62953 | $1,980 | $3,000 | $4,650 | $33,003 | $52,748 |
Source: Ownwell
Property Tax Bills Across Joppa, Illinois
In Joppa, located in Massac County, IL, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. This assessed value is a percentage of the property's market value. The property tax rate, applied to this assessed value, is set by local taxing authorities and varies depending on the financial needs of the community. Homeowners in Joppa experience a range of property tax bills. For instance, the 25th percentile tax bill is around $89, while the 75th percentile reaches approximately $702. At the higher end, the 90th percentile tax bill can be as much as $1,259. These figures reflect the variations in property values and the corresponding tax rates within the area. Compared to the national median property tax rate of 0.99%, Joppa's property tax bills can significantly impact homeowners, especially those with properties assessed at higher values. Understanding these factors is crucial for homeowners as they navigate their financial responsibilities and plan for future expenses.
Average Joppa Tax Bill
$150
Average Massac County Tax Bill
$1,443
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Joppa, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62953 | $60 | $89 | $150 | $702 | $1,259 |
Source: Ownwell