Saint David, Illinois Property Taxes
The median property tax rate in Saint David, IL is 2.74%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Saint David at $56,306, the typical annual property tax bill reaches $761, which is below the national median of $2,690. Property taxes in Saint David 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 Saint David'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 Saint David 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
Saint David, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Saint David Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Saint David. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Saint David to provide an accurate estimate of your property tax bill. This tool offers clarity on potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value, determined by Fulton County, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Saint David, Illinois
Property taxes in Saint David, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint David is 2.74%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Saint David set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint David 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 Saint David's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61563 zip code has the highest median property tax rate of 2.74%, while the same zip code also has the lowest median tax rate of 2.74%. Understanding how these areas compare with Saint David provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint David Tax Rate
2.74%
Average Fulton County Tax Rate
2.71%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint David, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61563 | 1.19% | 1.54% | 2.74% | 2.74% | 2.75% |
Source: Ownwell
Property Tax Assessment Values Across Saint David, Illinois
In Saint David, 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 Fulton County Appraisal District 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 Saint David, 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 Saint David helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Saint David is $56,306, with the median tax bill ranging from $530 at the 25th percentile to $2,292 at the 90th percentile. The zip code 61563 has both the highest and lowest median tax bill at $761.
Average Saint David Assessed Value
$56,306
Average Fulton County Assessed Value
$71,967
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint David, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61563 | $19,477 | $37,582 | $56,306 | $77,763 | $107,729 |
Source: Ownwell
Property Tax Bills Across Saint David, Illinois
In Saint David, Fulton County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area is $56,306. Property taxes are then applied to this assessed value using the local tax rate. For homeowners in Saint David, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $530, while those at the 75th percentile could see bills as high as $1,496. The 90th percentile tax bill can reach up to $2,292, indicating a broad range of potential tax liabilities. These tax bills are influenced by several factors, including the home's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the rates in Saint David may seem relatively modest, but they still represent a significant annual expense for homeowners. Understanding these variables can help residents better anticipate their financial obligations and plan accordingly.
Average Saint David Tax Bill
$761
Average Fulton County Tax Bill
$1,058
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint David, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61563 | $291 | $530 | $761 | $1,496 | $2,292 |
Source: Ownwell