Fairview Heights, Illinois Property Taxes
The median property tax rate in Fairview Heights, IL is 2.30%, 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 Fairview Heights at $122,655, the typical annual property tax bill reaches $2,810, exceeding the national median of $2,690. Property taxes in Fairview Heights 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 Fairview Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fairview Heights 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
Fairview Heights, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Fairview Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview Heights 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 Fairview Heights, Illinois
Property taxes in Fairview Heights, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview Heights is 2.30%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Fairview Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview Heights 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 Fairview Heights' effective property tax rate to other counties in Illinois and the national median. For comparison, the 62208 zip code has the highest median property tax rate of 2.30%, while the lowest median tax rate is also 2.30%. Understanding how these cities compare with Fairview Heights provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairview Heights Tax Rate
2.30%
Average St. Clair County Tax Rate
2.55%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview Heights, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62208 | 1.69% | 2.01% | 2.30% | 2.60% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Fairview Heights, Illinois
In Fairview Heights, 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 St. Clair 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 Fairview Heights, 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 Fairview Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 62208, with a median tax bill of $2,810.
Property Tax Assessment Values Across Fairview Heights, Illinois
Source: Ownwell
$2,100
$2,560,473
$5,118,846
Average Fairview Heights Assessed Value
$122,655
Average St. Clair County Assessed Value
$110,946
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairview Heights, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62208 | $62,078 | $92,430 | $122,655 | $178,766 | $231,153 |
Source: Ownwell
Property Tax Bills Across Fairview Heights, Illinois
In Fairview Heights, located in St. Clair County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Fairview Heights is $122,655. To determine the tax bill, local tax rates are applied to the assessed value. These rates can vary depending on the specific needs and budgets of local government entities such as schools, municipalities, and other public services. Several factors influence the tax bill, including property location, home size, and any applicable exemptions. For Fairview Heights homeowners, the 25th percentile tax bill is around $1,993, while the 75th percentile tax bill reaches $4,052, and the 90th percentile tax bill is as high as $5,299. These figures highlight the range of tax burdens that residents might experience. Compared to the national median property tax rate of 0.99%, the tax rates in Fairview Heights can significantly impact homeowners, making it crucial for them to understand how their property taxes are calculated and what factors contribute to their final bill.
Average Fairview Heights Tax Bill
$2,810
Average St. Clair County Tax Bill
$2,735
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview Heights, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62208 | $1,218 | $1,993 | $2,810 | $4,052 | $5,299 |
Source: Ownwell