Strasburg, Illinois Property Taxes
The median property tax rate in Strasburg, IL is 2.06%, considerably higher than both the national median of 0.99% and Illinois' state median of 2.35%. With the median home value in Strasburg at $114,618, the typical annual property tax bill reaches $2,242, just under the national median of $2,690. Property taxes in Strasburg 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 Strasburg'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 Strasburg 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
Strasburg, 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 Strasburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Strasburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Strasburg 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 Strasburg, Illinois
Property taxes in Strasburg, Illinois, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Strasburg is 2.06%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Strasburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Strasburg 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 Strasburg's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62465 zip code has the highest median property tax rate of 2.06%, while the same zip code also has the lowest median tax rate of 2.06%. Understanding how these cities compare with Strasburg provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Strasburg Tax Rate
2.06%
Average Shelby County Tax Rate
2.20%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Strasburg, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62465 | 1.51% | 1.81% | 2.06% | 2.31% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Strasburg, Illinois
In Strasburg, 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 Shelby 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 Strasburg, 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 Strasburg 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 $2242 in the 62465 zip code, while the lowest median tax bill is also $2242 in the same zip code.
Average Strasburg Assessed Value
$114,618
Average Shelby County Assessed Value
$99,420
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Strasburg, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62465 | $27,365 | $73,668 | $114,618 | $160,923 | $236,717 |
Source: Ownwell
Property Tax Bills Across Strasburg, Illinois
In Strasburg, located in Shelby County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value typically represents a percentage of the property's market value. The tax rate applied to this assessed value is determined by local taxing authorities and is used to fund essential public services such as schools, infrastructure, and emergency services. Several factors influence the final tax bill, including the property's location, its assessed value, and the specific tax rate set by the county. For instance, the median home price in Strasburg is $114,618, and property tax bills can vary significantly. Homeowners in the 25th percentile might see tax bills around $1,395, while those in the 75th percentile could face bills as high as $3,642. At the 90th percentile, tax bills can reach up to $4,977. These variations can significantly impact homeowners' annual budgets, making property tax management an essential aspect of homeownership in Strasburg.
Average Strasburg Tax Bill
$2,242
Average Shelby County Tax Bill
$2,114
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Strasburg, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62465 | $680 | $1,395 | $2,242 | $3,642 | $4,977 |
Source: Ownwell