Carterville, Illinois Property Taxes
The median property tax rate in Carterville, IL is 2.30%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Carterville at $119,430, the typical annual property tax bill reaches $2,611, slightly below the national median of $2,690. Property taxes in Carterville 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 Carterville'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 Carterville 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
Carterville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$2,747
$2,684
Ownwell’s Carterville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carterville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carterville 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 Williamson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Carterville, Illinois
Property taxes in Carterville, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carterville is 2.30%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Carterville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carterville 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 Carterville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62918 zip code has the highest median property tax rate of 2.30%, while the same zip code also has the lowest median tax rate of 2.30%. Understanding how these cities compare with Carterville provides valuable insights into the varying tax landscape across Williamson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carterville Tax Rate
2.30%
Average Williamson County Tax Rate
2.30%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carterville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62918 | 1.56% | 2.01% | 2.30% | 2.50% | 2.63% |
Source: Ownwell
Property Tax Assessment Values Across Carterville, Illinois
In Carterville, 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 Williamson 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 Carterville, 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 Carterville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Carterville is 62918, with a bill of $2,611, which is significantly higher than the national median property tax rate of 0.99%.
Average Carterville Assessed Value
$119,430
Average Williamson County Assessed Value
$85,800
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carterville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62918 | $33,936 | $66,450 | $119,430 | $188,040 | $263,532 |
Source: Ownwell
Property Tax Bills Across Carterville, Illinois
In Carterville, located in Williamson 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 median home price in Carterville is $119,430. Property taxes are then applied to this assessed value using the local tax rate. For context, the national median property tax rate stands at 0.99%. Several factors influence the property tax bill, including property size, location, and any applicable exemptions or deductions. For example, the 25th percentile tax bill in Carterville is $1,335, while the 75th percentile tax bill reaches $4,401. Homeowners in the 90th percentile can expect to pay around $6,306. The highest and lowest median tax bills in the area are both $2,611, located in zip code 62918. These property taxes significantly impact homeowners, as they contribute to local services such as schools, public safety, and infrastructure. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances accordingly.
Average Carterville Tax Bill
$2,611
Average Williamson County Tax Bill
$1,802
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Carterville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62918 | $587 | $1,335 | $2,611 | $4,401 | $6,306 |
Source: Ownwell