Beckemeyer, Illinois Property Taxes
The median property tax rate in Beckemeyer, IL is 1.87%, significantly higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With a median home value of $93,090 in Beckemeyer, the typical annual property tax bill is $1,615, which is below the national median of $2,690. Property taxes in Beckemeyer are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Beckemeyer'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 Beckemeyer 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
Beckemeyer, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.87%
Estimate Property Tax Bill
$1,741
$1,701
Ownwell’s Beckemeyer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beckemeyer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beckemeyer 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 Clinton County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Beckemeyer, Illinois
Property taxes in Beckemeyer, Illinois, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Beckemeyer stands at 1.87%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Beckemeyer set these rates annually, and they can vary across different neighborhoods. Each year, Beckemeyer 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 Beckemeyer's effective property tax rate to other regions in Illinois and the national median. For comparison, the zip code 62219 has the highest median property tax rate of 1.87%, while the same zip code also has the lowest median tax rate of 1.87%. Understanding how these areas compare with Beckemeyer 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 Beckemeyer Tax Rate
1.87%
Average Clinton County Tax Rate
2.02%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beckemeyer, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62219 | 1.13% | 1.61% | 1.87% | 2.07% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Beckemeyer, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Beckemeyer, Illinois. The market value represents 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 assessment authorities 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 Beckemeyer, 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. For instance, the median home price in Beckemeyer is $93,090, with tax bills ranging from $1,110 at the 25th percentile to $3,493 at the 90th percentile. The highest and lowest median tax bills, both at $1,615, are found in the 62219 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Beckemeyer Assessed Value
$93,090
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 Beckemeyer, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62219 | $48,030 | $67,538 | $93,090 | $133,530 | $179,325 |
Source: Ownwell
Property Tax Bills Across Beckemeyer, Illinois
In Beckemeyer, Clinton County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local tax authorities determine the assessed value, and this figure is then multiplied by the local tax rate to calculate the tax bill. The median home price in Beckemeyer is $93,090, and the national median property tax rate is 0.99%. However, the tax rates can vary significantly within the county. Factors influencing the tax bill include the home's assessed value, local government budgets, and any applicable exemptions. For instance, the 25th percentile tax bill is $1,110, while the 75th percentile tax bill is $2,393, showing a wide range of potential tax amounts. The highest median tax bill in the area is $1,615, and the lowest is also $1,615, both found in ZIP code 62219. These variations can significantly impact homeowners, influencing their annual financial obligations and potentially affecting the affordability of owning property in Beckemeyer.
Average Beckemeyer Tax Bill
$1,615
Average Clinton County Tax Bill
$2,760
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Beckemeyer, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62219 | $645 | $1,110 | $1,615 | $2,393 | $3,493 |
Source: Ownwell