Jerseyville, Illinois Property Taxes
The median property tax rate in Jerseyville, IL is 1.84%, 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 $25,094 in Jerseyville, the typical annual property tax bill amounts to $374, which is well below the national median of $2,690. Property taxes in Jerseyville are calculated based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Jerseyville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Jerseyville or another part of Greene County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jerseyville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$462
$451
Ownwell’s Jerseyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jerseyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jerseyville 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 Jerseyville, Illinois
Property taxes in Jerseyville, Illinois, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Jerseyville is 1.84%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Jerseyville set these rates annually, and they can vary notably across different neighborhoods. Each year, Jerseyville 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 Jerseyville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62052 ZIP code has the highest median property tax rate of 1.84%, while the same ZIP code also has the lowest median tax rate of 1.84%. Understanding how these cities compare with Jerseyville provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jerseyville Tax Rate
1.84%
Average Greene County Tax Rate
2.00%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jerseyville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62052 | 1.44% | 1.59% | 1.84% | 2.08% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Jerseyville, Illinois
In Jerseyville, 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 local 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 Jerseyville, 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 Jerseyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Jerseyville are both $374.00, found in zip code 62052.
Average Jerseyville Assessed Value
$25,094
Average Greene County Assessed Value
$57,802
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jerseyville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62052 | $11,132 | $16,368 | $25,094 | $33,819 | $39,055 |
Source: Ownwell
Property Tax Bills Across Jerseyville, Illinois
In Jerseyville, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate set by local taxing authorities. For example, in Jerseyville, the median home price is $25,094. Homeowners in the 25th percentile pay around $276, while those in the 75th percentile pay approximately $473. The 90th percentile sees tax bills as high as $532. The highest and lowest median tax bills are both $374 in the zip code 62052, indicating a consistent tax rate across the area. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Jerseyville's rates can impact homeowners differently based on their property’s assessed value. Understanding these factors can help homeowners manage their finances better and anticipate future tax obligations.
Average Jerseyville Tax Bill
$374
Average Greene County Tax Bill
$1,090
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Jerseyville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62052 | $217 | $276 | $374 | $473 | $532 |
Source: Ownwell