Brighton, Illinois Property Taxes
The median property tax rate in Brighton, IL is 1.95%, significantly higher than the national median of 0.99% but lower than Illinois' state median of 2.35%. With a median home value of $124,938, the typical annual property tax bill in Brighton is around $2,317, which is below the national median of $2,690. Property taxes in Brighton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Brighton'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 Brighton 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
Brighton, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.95%
Estimate Property Tax Bill
$2,436
$2,381
Ownwell’s Brighton Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Brighton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brighton to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan your finances accordingly. 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, taking into account any exemptions that may apply.
Property Tax Rates Across Brighton, Illinois
Property taxes in Brighton, Illinois, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Brighton is 1.95%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Brighton set these rates annually, and they can vary across different neighborhoods. Each year, Brighton 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 Brighton's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62012 zip code has both the highest and lowest median property tax rate of 1.95%. Understanding how these cities compare with Brighton provides valuable insights into the varying tax landscape across Macoupin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brighton Tax Rate
1.95%
Average Macoupin County Tax Rate
1.93%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brighton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62012 | 1.29% | 1.74% | 1.95% | 2.12% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Brighton, Illinois
In Brighton, 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 Macoupin 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 Brighton, 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 Brighton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Brighton's median property tax bill is $2,317, with the highest and lowest tax bills both found in the 62012 zip code.
Average Brighton Assessed Value
$124,938
Average Macoupin County Assessed Value
$80,204
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brighton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62012 | $50,129 | $84,930 | $124,938 | $178,629 | $227,060 |
Source: Ownwell
Property Tax Bills Across Brighton, Illinois
In Brighton, located in Macoupin County, IL, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this assessed value. The median home price in Brighton is $124,938. Property tax rates in this region can vary, leading to different tax bills for homeowners. For instance, the 25th percentile tax bill is $1,461, while the 75th percentile tax bill reaches $3,416, and the 90th percentile tax bill can be as high as $4,595. These tax bills are influenced by several factors, including the assessed property value, local government budgets, and specific tax rates set by the county. Homeowners in Brighton should be aware that their property tax bills can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, Brighton's rates can be relatively high, reflecting the importance of understanding local property tax dynamics. This knowledge can help homeowners budget more effectively and potentially appeal their property assessments if they believe they are overvalued.
Average Brighton Tax Bill
$2,317
Average Macoupin County Tax Bill
$1,490
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Brighton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62012 | $767 | $1,461 | $2,317 | $3,416 | $4,595 |
Source: Ownwell