Carlyle, Illinois Property Taxes
The median property tax rate in Carlyle, IL is 2.20%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Carlyle, the typical annual property tax bill reaches $2,573, slightly below the national median of $2,690. Property taxes in Carlyle 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 Carlyle'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 Carlyle 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
Carlyle, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.2%
Estimate Property Tax Bill
$2,511
$2,454
Ownwell’s Carlyle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carlyle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carlyle 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 Carlyle, Illinois
Property taxes in Carlyle, Illinois, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Carlyle is 2.20%, significantly higher than the U.S. national median of 0.99%. Local government entities within Carlyle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carlyle 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 Carlyle's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62231 has both the highest and lowest median property tax rate of 2.20%. Understanding how these cities compare with Carlyle provides valuable insights into the varying tax landscape across Bond County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carlyle Tax Rate
2.20%
Average Bond County Tax Rate
2.52%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carlyle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62231 | 1.98% | 2.07% | 2.20% | 2.34% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Carlyle, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Carlyle, 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 Bond 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. In Carlyle, 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 Carlyle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 62231 has the highest and lowest median tax bill at $2,573, reflecting the uniformity in tax assessments within the area.
Average Carlyle Assessed Value
$114,158
Average Bond County Assessed Value
$56,846
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carlyle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62231 | $97,565 | $103,787 | $114,158 | $124,528 | $130,750 |
Source: Ownwell
Property Tax Bills Across Carlyle, Illinois
In Carlyle, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of its market value. The local tax rate, which in Carlyle falls within Bond County, is then applied to this assessed value to determine the tax bill. Several factors influence the assessed value, including property size, location, and any improvements made. For homeowners in Carlyle, the median home price is $114,158. The tax bills can vary significantly, with the 25th percentile at $2,187 and the 75th percentile at $2,960. At the 90th percentile, tax bills can reach up to $3,191. The median tax bill in the area is $2,573, which is substantially higher than the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners as property taxes can significantly impact their annual expenses. Higher property taxes can affect affordability and the overall cost of owning a home in Carlyle.
Average Carlyle Tax Bill
$2,573
Average Bond County Tax Bill
$1,285
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Carlyle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62231 | $1,955 | $2,187 | $2,573 | $2,960 | $3,191 |
Source: Ownwell