Addieville, Illinois Property Taxes
The median property tax rate in Addieville, IL is 1.63%, considerably higher than the national median of 0.99%, yet lower than the Illinois state median of 2.35%. With the median home value in Addieville at $51,452, the typical annual property tax bill reaches $665, which is below the national median of $2,690. Property taxes in Addieville are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Addieville'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 Addieville or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Addieville, 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 Addieville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Addieville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Addieville 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 Addieville, Illinois
Property taxes in Addieville, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Addieville is 1.63%, significantly higher than the U.S. national median of 0.99%. Local government entities within Addieville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Addieville 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 Addieville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62214 zip code has the highest median property tax rate of 1.63%, while the 62214 zip code also has the lowest median tax rate of 1.63%. Understanding how these cities compare with Addieville provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Addieville Tax Rate
1.63%
Average Washington County Tax Rate
2.25%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Addieville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62214 | 0.58% | 1.03% | 1.63% | 2.22% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Addieville, Illinois
In Addieville, 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 Washington County Assessor 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. Assessment notices in Addieville 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. With a median home price of $51,452, tax bills can vary significantly. For instance, the 25th percentile tax bill is $254, while the 75th percentile reaches $1,228. 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 Addieville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Addieville Assessed Value
$51,452
Average Washington County Assessed Value
$38,358
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Addieville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62214 | $8,161 | $19,843 | $51,452 | $71,371 | $95,687 |
Source: Ownwell
Property Tax Bills Across Addieville, Illinois
In Addieville, located in Washington County, IL, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The county’s median home price stands at $51,452. Property taxes are then determined by multiplying this assessed value by the local tax rate. For Addieville, the tax bills range significantly, with the 25th percentile at $254 and the 75th percentile reaching $1,228, while the 90th percentile can go up to $1,838. The highest and lowest median tax bills both stand at $665, which is relatively moderate compared to the national median property tax rate of 0.99%. Several factors influence these tax bills, including the property's location within Washington County, the local tax rate, and any applicable exemptions or deductions. Homeowners in Addieville can expect their property tax bills to reflect these variables, impacting their annual financial planning. Understanding how these elements interact is crucial for homeowners aiming to manage their property tax obligations effectively.
Average Addieville Tax Bill
$665
Average Washington County Tax Bill
$660
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Addieville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62214 | $128 | $254 | $665 | $1,228 | $1,838 |
Source: Ownwell