Elsah, Illinois Property Taxes
The median property tax rate in Elsah, IL is 2.18%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Elsah at $62,985, the typical annual property tax bill reaches $1,953, exceeding the national median of $2,690. Property taxes in Elsah 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 Elsah'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 Elsah 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
Elsah, 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 Elsah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elsah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elsah 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 Elsah, Illinois
Property taxes in Elsah, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elsah is 2.18%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Elsah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elsah 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 Elsah's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62028 zip code has the highest median property tax rate of 2.18%, while the same zip code also has the lowest median tax rate of 2.18%. Understanding how these cities compare with Elsah provides valuable insights into the varying tax landscape across Jersey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elsah Tax Rate
2.18%
Average Jersey County Tax Rate
2.18%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elsah, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62028 | 1.81% | 2.15% | 2.18% | 2.24% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Elsah, Illinois
In Elsah, 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 Jersey 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 Elsah, 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 Elsah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Elsah is $62,985, with tax bills ranging from $520 at the 25th percentile to $5,753 at the 90th percentile. The highest and lowest median tax bills are both $1,953 in the 62028 zip code.
Average Elsah Assessed Value
$62,985
Average Jersey County Assessed Value
$130,268
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elsah, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62028 | $12,216 | $15,825 | $62,985 | $168,150 | $240,459 |
Source: Ownwell
Property Tax Bills Across Elsah, Illinois
In Elsah, located in Jersey County, IL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, the median home price in Elsah is $62,985, and homeowners in the 25th percentile of tax bills pay around $520 annually. This amount increases significantly for those in the 75th percentile, who pay approximately $3,885, and even more for the 90th percentile, with tax bills reaching up to $5,753. Various factors influence these tax bills, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Elsah's property taxes can be relatively high, impacting homeowners' annual financial planning. Understanding these elements is crucial for homeowners to anticipate their property tax obligations and manage their finances effectively.
Average Elsah Tax Bill
$1,953
Average Jersey County Tax Bill
$2,776
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Elsah, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62028 | $235 | $520 | $1,953 | $3,885 | $5,753 |
Source: Ownwell