Wilsonville, Illinois Property Taxes
The median property tax rate in Wilsonville, Illinois is 1.83%, considerably higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With a median home value of $45,195 in Wilsonville, the typical annual property tax bill reaches $725, which is significantly below the national median of $2,690. Property taxes in Wilsonville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Wilsonville'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 Wilsonville 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
Wilsonville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.83%
Estimate Property Tax Bill
$827
$808
Ownwell’s Wilsonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilsonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilsonville 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 Wilsonville, Illinois
Property taxes in Wilsonville, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilsonville is 1.83%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wilsonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilsonville 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 Wilsonville's effective property tax rate to other areas in Illinois and the national median. For comparison, the zip code 62093 has the highest median property tax rate of 1.83%, while the same zip code also has the lowest median tax rate of 1.83%. Understanding how these areas compare with Wilsonville 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 Wilsonville Tax Rate
1.83%
Average Macoupin County Tax Rate
1.93%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilsonville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62093 | 0.84% | 1.29% | 1.83% | 2.30% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Wilsonville, Illinois
In Wilsonville, 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 Wilsonville, 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 Wilsonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $725, found in zip code 62093.
Average Wilsonville Assessed Value
$45,195
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 Wilsonville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62093 | $16,776 | $33,332 | $45,195 | $64,666 | $93,614 |
Source: Ownwell
Property Tax Bills Across Wilsonville, Illinois
In Wilsonville, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is typically a percentage of the market value, which in Wilsonville averages around $45,195. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, homeowners in the 25th percentile can expect a tax bill of approximately $400, while those in the 75th percentile face about $1,120. The highest tax bills in the area can reach up to $1,632, reflecting the upper 90th percentile. Factors such as property improvements, neighborhood developments, and changes in local tax rates can influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Wilsonville's rates can significantly impact homeowners, especially given the variability in tax bills. Understanding these factors is crucial for homeowners to anticipate their tax obligations and manage their finances effectively.
Average Wilsonville Tax Bill
$725
Average Macoupin County Tax Bill
$1,490
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilsonville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62093 | $237 | $400 | $725 | $1,120 | $1,632 |
Source: Ownwell