Coulterville, Illinois Property Taxes
The median property tax rate in Coulterville, Illinois is 2.83%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Coulterville at $24,765, the typical annual property tax bill reaches $701, which is significantly lower than the national median of $2,690. Property taxes in Coulterville 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 Coulterville'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 Coulterville or another part of Randolph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coulterville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.83%
Estimate Property Tax Bill
$701
$685
Ownwell’s Coulterville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coulterville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coulterville 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 Coulterville, Illinois
Property taxes in Coulterville, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coulterville is 2.83%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Coulterville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coulterville 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 Coulterville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62237 zip code has the highest median property tax rate of 2.83%, while the same zip code also has the lowest median tax rate of 2.83%. Understanding how these cities compare with Coulterville provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coulterville Tax Rate
2.83%
Average Randolph County Tax Rate
2.00%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coulterville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62237 | 2.24% | 2.31% | 2.83% | 2.83% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Coulterville, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Coulterville, Illinois. 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 Randolph 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 Coulterville, 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 Coulterville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $701 in zip code 62237, reflecting the local property tax landscape.
Average Coulterville Assessed Value
$24,765
Average Randolph County Assessed Value
$47,528
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coulterville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62237 | $5,172 | $10,748 | $24,765 | $33,210 | $73,896 |
Source: Ownwell
Property Tax Bills Across Coulterville, Illinois
In Coulterville, Randolph County, IL, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Coulterville is $24,765. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile at $292 and the 75th percentile at $823. For those in the 90th percentile, the tax bill can reach up to $1,854. The highest median tax bill in the area is $701, as recorded in the 62237 zip code. These figures illustrate the range of property tax obligations faced by homeowners in Coulterville. Factors such as property value, local tax rates, and applicable exemptions all play a role in determining the final tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Coulterville experience a diverse range of tax burdens, which can significantly impact their annual expenses. Understanding these factors can help homeowners better plan their finances and potentially seek tax relief where applicable.
Average Coulterville Tax Bill
$701
Average Randolph County Tax Bill
$1,100
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Coulterville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62237 | $146 | $292 | $701 | $823 | $1,854 |
Source: Ownwell