Albers, Illinois Property Taxes
The median property tax rate in Albers, IL is 2.08%, notably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Albers at $175,305, the typical annual property tax bill reaches $3,550, surpassing the national median of $2,690. Property taxes in Albers are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Albers' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Albers or another part of Clinton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Albers, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$3,646
$3,563
Ownwell’s Albers Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Albers with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Albers 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 Albers, Illinois
Property taxes in Albers, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Albers is 2.08%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Albers set these rates annually, and they can vary significantly across different neighborhoods. Each year, Albers 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 Albers' effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 62215 has the highest median property tax rate of 2.08%, while the same zip code also has the lowest median tax rate of 2.08%. Understanding how these areas compare with Albers provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Albers Tax Rate
2.08%
Average Clinton County Tax Rate
2.02%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Albers, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62215 | 1.66% | 1.96% | 2.08% | 2.18% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Albers, Illinois
In Albers, 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 Clinton 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 Albers, 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 Albers helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 62215 has the highest and lowest median tax bill at $3,550.
Average Albers Assessed Value
$175,305
Average Clinton County Assessed Value
$140,970
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Albers, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62215 | $86,700 | $133,478 | $175,305 | $222,892 | $283,665 |
Source: Ownwell
Property Tax Bills Across Albers, Illinois
In Albers, located in Clinton County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Albers typically see tax bills ranging from $2,604 at the 25th percentile to $6,115 at the 90th percentile. The median home price in the area is $175,305, and the tax rate is applied to the assessed value to determine the final tax bill. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. The assessed value is crucial as it directly impacts the tax bill. Higher assessed values result in higher tax bills, affecting homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Albers residents may find their tax bills higher or lower depending on individual property values and local tax rates. Understanding these factors helps homeowners budget effectively and anticipate their financial obligations.
Average Albers Tax Bill
$3,550
Average Clinton County Tax Bill
$2,760
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Albers, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62215 | $1,601 | $2,604 | $3,550 | $4,561 | $6,115 |
Source: Ownwell