Pinckneyville, Illinois Property Taxes
The median property tax rate in Pinckneyville, IL is 1.94%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Pinckneyville, the typical annual property tax bill reaches $1,841, which is below the national median of $2,690. Property taxes in Pinckneyville 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 Pinckneyville'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 Pinckneyville 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
Pinckneyville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$1,842
$1,800
Ownwell’s Pinckneyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pinckneyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pinckneyville 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 Pinckneyville, Illinois
Property taxes in Pinckneyville, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pinckneyville is 1.94%, significantly higher than the U.S. national median of 0.99%. Local government entities within Pinckneyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pinckneyville 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 Pinckneyville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62274 zip code has the highest median property tax rate of 1.94%, while the same zip code also has the lowest median tax rate of 1.94%. Understanding how these cities compare with Pinckneyville provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pinckneyville Tax Rate
1.94%
Average Perry County Tax Rate
1.89%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pinckneyville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62274 | 0.97% | 1.56% | 1.94% | 2.30% | 2.57% |
Source: Ownwell
Property Tax Assessment Values Across Pinckneyville, Illinois
In Pinckneyville, 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 Perry 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 Pinckneyville, 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 Pinckneyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Pinckneyville, the highest and lowest median tax bills are both $1,841, found in the 62274 zip code.
Average Pinckneyville Assessed Value
$94,928
Average Perry County Assessed Value
$82,294
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pinckneyville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62274 | $42,801 | $64,470 | $94,928 | $137,808 | $178,361 |
Source: Ownwell
Property Tax Bills Across Pinckneyville, Illinois
In Pinckneyville, located in Perry County, IL, property tax bills are calculated based on the assessed value of a home, 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 instance, homeowners in Pinckneyville see a median home price of $94,928, and their property tax bills can vary significantly. The 25th percentile tax bill is around $1,023, while the 75th percentile tax bill reaches $2,882, and the 90th percentile can go up to $3,952. Several factors contribute to the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. These tax bills directly impact homeowners by influencing their annual housing costs. Compared to the national median property tax rate of 0.99%, the tax rates in Pinckneyville can represent a notable expense for property owners, making it crucial for them to understand their tax liabilities and explore potential exemptions to mitigate their financial burden.
Average Pinckneyville Tax Bill
$1,841
Average Perry County Tax Bill
$1,554
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Pinckneyville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62274 | $500 | $1,023 | $1,841 | $2,882 | $3,952 |
Source: Ownwell