San Jose, Illinois Property Taxes
The median property tax rate in San Jose, IL is 2.76%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in San Jose, the typical annual property tax bill reaches $3,070, exceeding the national median of $2,690. Property taxes in San Jose 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 San Jose'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 San Jose 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
San Jose, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.76%
Estimate Property Tax Bill
$3,093
$3,022
Ownwell’s San Jose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in San Jose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in San Jose 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 San Jose, Illinois
Property taxes in San Jose, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in San Jose is 2.76%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within San Jose set these rates annually, and they can vary significantly across different neighborhoods. Each year, San Jose 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 San Jose's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62682 zip code has the highest median property tax rate of 2.76%, while the same zip code also has the lowest median tax rate of 2.76%. Understanding how these cities compare with San Jose provides valuable insights into the varying tax landscape across Mason County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average San Jose Tax Rate
2.76%
Average Mason County Tax Rate
2.98%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across San Jose, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62682 | 2.39% | 2.64% | 2.76% | 3.29% | 3.84% |
Source: Ownwell
Property Tax Assessment Values Across San Jose, Illinois
In San Jose, 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 Mason 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 San Jose, 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. For instance, the highest median tax bill is found in the 62682 zip code, amounting to $3,070. 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 San Jose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average San Jose Assessed Value
$112,053
Average Mason County Assessed Value
$73,888
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across San Jose, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62682 | $23,477 | $55,215 | $112,053 | $166,569 | $235,898 |
Source: Ownwell
Property Tax Bills Across San Jose, Illinois
In San Jose, Mason County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local taxing authorities determine the tax rate, which is then applied to the assessed value to calculate the tax bill. Various factors, such as home improvements, neighborhood developments, and changes in the local economy, can influence the assessed value and, consequently, the tax bill. Homeowners in San Jose face a range of property tax bills. For instance, those in the 25th percentile pay around $1,694, while those in the 75th percentile pay about $4,760. The 90th percentile sees bills as high as $6,521. The median home price in the area is $112,053, and the median tax bill is $3,070, which is considerably higher than the national median property tax rate of 0.99%. These property tax bills can significantly impact homeowners' finances, making it crucial to understand how they are calculated and what factors contribute to the final amount.
Average San Jose Tax Bill
$3,070
Average Mason County Tax Bill
$2,133
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across San Jose, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62682 | $964 | $1,694 | $3,070 | $4,760 | $6,521 |
Source: Ownwell