Scott Air Force Base, Illinois Property Taxes
The median property tax rate in Scott Air Force Base, IL is 2.30%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Scott Air Force Base, the typical annual property tax bill reaches $117,795, far exceeding the national median of $2,690. Property taxes in Scott Air Force Base 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 Scott Air Force Base'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 Scott Air Force Base 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
Scott Air Force Base, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$117,733
$115,044
Ownwell’s Scott Air Force Base Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scott Air Force Base with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scott Air Force Base 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 Scott Air Force Base, Illinois
Property taxes in Scott Air Force Base, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scott Air Force Base is 2.30%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Scott Air Force Base set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scott Air Force Base 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 Scott Air Force Base's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62225 has both the highest and lowest median property tax rate of 2.30%. Understanding how these cities compare with Scott Air Force Base provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Scott Air Force Base Tax Rate
2.30%
Average St. Clair County Tax Rate
2.55%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scott Air Force Base, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62225 | 2.29% | 2.30% | 2.30% | 2.31% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Scott Air Force Base, Illinois
In Scott Air Force Base, 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 St. Clair County Assessor's Office 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. 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 Scott Air Force Base helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $117,795 in the 62225 zip code, reflecting the uniformity in this area.
Property Tax Assessment Values Across Scott Air Force Base, Illinois
Source: Ownwell
$2,100
$2,560,473
$5,118,846
Average Scott Air Force Base Assessed Value
$5,118,846
Average St. Clair County Assessed Value
$110,946
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Scott Air Force Base, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62225 | $5,118,846 | $5,118,846 | $5,118,846 | $5,118,846 | $5,118,846 |
Source: Ownwell
Property Tax Bills Across Scott Air Force Base, Illinois
In Scott Air Force Base, located in St. Clair County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $5,118,846, homeowners can expect substantial property tax bills. The tax bill at the 25th percentile is $117,501, while at the 75th percentile, it rises slightly to $118,089. The highest and lowest median tax bills are identical at $117,795, indicating a consistent tax rate in the area. Factors such as property size, location, and improvements play a significant role in determining the assessed value. Homeowners in Scott Air Force Base face higher property taxes compared to the national median property tax rate of 0.99%, impacting their annual financial planning. Understanding these factors can help homeowners anticipate and manage their property tax obligations more effectively.
Average Scott Air Force Base Tax Bill
$117,795
Average St. Clair County Tax Bill
$2,735
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Scott Air Force Base, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62225 | $117,324 | $117,501 | $117,795 | $118,089 | $118,266 |
Source: Ownwell