Campbell Hill, Illinois Property Taxes
The median property tax rate in Campbell Hill, IL is 1.84%, which is considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Campbell Hill, the typical annual property tax bill reaches $45, significantly lower than the national median of $2,690. Property taxes in Campbell Hill 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 Campbell Hill'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 Campbell Hill or another part of Randolph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Campbell Hill, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$45
$44
Ownwell’s Campbell Hill Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Campbell Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Campbell Hill to provide an estimate of 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 Campbell Hill, Illinois
Property taxes in Campbell Hill, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Campbell Hill is 1.84%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Campbell Hill set these rates annually, and they can vary across different neighborhoods. Each year, Campbell Hill 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 Campbell Hill's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62916 has the highest median property tax rate of 1.84%, while the same zip code also has the lowest median tax rate of 1.84%. Understanding how these areas compare with Campbell Hill provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Campbell Hill Tax Rate
1.84%
Average Randolph County Tax Rate
2.00%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Campbell Hill, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62916 | 1.84% | 1.84% | 1.84% | 1.84% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Campbell Hill, Illinois
In Campbell Hill, 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 Randolph County Assessment Office 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 Campbell Hill, 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 Campbell Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Campbell Hill Assessed Value
$2,460
Average Randolph County Assessed Value
$47,528
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Campbell Hill, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62916 | $2,460 | $2,460 | $2,460 | $2,460 | $2,460 |
Source: Ownwell
Property Tax Bills Across Campbell Hill, Illinois
In Campbell Hill, located in Randolph County, IL, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. In this region, the median home price is $2,460. The tax rate is then applied to the assessed value to determine the final tax bill. For homeowners in Campbell Hill, the property tax bill is influenced by various factors, including the property's assessed value and the local tax rate. The tax bill can vary significantly, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $45. This uniformity suggests a relatively stable tax environment in the area. Compared to the national median property tax rate of 0.99%, Campbell Hill's property tax rate is notably lower, making it an attractive location for homeowners. Lower property tax bills can significantly reduce the financial burden on homeowners, contributing to the overall affordability and appeal of living in this community.
Average Campbell Hill Tax Bill
$45
Average Randolph County Tax Bill
$1,100
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Campbell Hill, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62916 | $45 | $45 | $45 | $45 | $45 |
Source: Ownwell