Clayton, Illinois Property Taxes
The median property tax rate in Clayton, IL is 2.36%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Clayton, the typical annual property tax bill reaches $768, which is significantly lower than the national median of $2,690. Property taxes in Clayton 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 Clayton'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 Clayton 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
Clayton, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.36%
Estimate Property Tax Bill
$1,100
$1,075
Ownwell’s Clayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clayton 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 Clayton, Illinois
Property taxes in Clayton, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clayton is 2.36%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Clayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clayton 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 Clayton's effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 62324 has the same median property tax rate of 2.36%. Understanding how these areas compare with Clayton provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clayton Tax Rate
2.36%
Average Adams County Tax Rate
2.23%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clayton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62324 | 1.81% | 2.36% | 2.36% | 2.36% | 2.38% |
Source: Ownwell
Property Tax Assessment Values Across Clayton, Illinois
In Clayton, 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 Adams County Assessment 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. In Clayton, 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 Clayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Clayton, both at $768, are found in the 62324 zip code.
Average Clayton Assessed Value
$46,620
Average Adams County Assessed Value
$88,290
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clayton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62324 | $31,152 | $32,520 | $46,620 | $53,340 | $62,610 |
Source: Ownwell
Property Tax Bills Across Clayton, Illinois
In Clayton, located in Adams County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is a percentage of the property's market value. Homeowners in Clayton typically see tax bills ranging from $725 at the 25th percentile to $1,478 at the 90th percentile, with a median tax bill of approximately $768. This is relatively lower compared to the national median property tax rate of 0.99%. Several factors contribute to the final tax bill, including property characteristics, local tax rates, and any applicable exemptions. For instance, exemptions for primary residences or senior citizens can reduce the taxable value, thereby lowering the tax bill. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and housing market dynamics. Conversely, lower tax rates can make the area more attractive for potential buyers, fostering a more stable and appealing housing market.
Average Clayton Tax Bill
$768
Average Adams County Tax Bill
$1,937
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Clayton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62324 | $695 | $725 | $768 | $1,259 | $1,478 |
Source: Ownwell