Augusta, Illinois Property Taxes
The median property tax rate in Augusta, IL is 2.07%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Augusta at $373,620, the typical annual property tax bill reaches $7,739, exceeding the national median of $2,690. Property taxes in Augusta 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 Augusta'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 Augusta 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
Augusta, 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 Augusta Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Augusta with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Augusta to provide an estimated property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available further down. Your property’s assessed value is the value assigned by Adams County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Augusta, Illinois
Property taxes in Augusta, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Augusta is 2.07%, more than double the U.S. national median of 0.99%. Local government entities within Augusta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Augusta 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 Augusta's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62311 zip code has both the highest and lowest median property tax rate of 2.07%. Understanding how these cities compare with Augusta provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Augusta Tax Rate
2.07%
Average Adams County Tax Rate
2.23%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Augusta, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62311 | 2.07% | 2.07% | 2.07% | 2.07% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Augusta, Illinois
In Augusta, 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 Adams 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 Augusta, 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 Augusta 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 62311, with a tax bill of $7,739.
Average Augusta Assessed Value
$373,620
Average Adams County Assessed Value
$88,290
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Augusta, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62311 | $373,620 | $373,620 | $373,620 | $373,620 | $373,620 |
Source: Ownwell
Property Tax Bills Across Augusta, Illinois
Property tax bills in Augusta, Adams County, IL, are determined based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Augusta is $373,620. To calculate the property tax bill, this assessed value is multiplied by the local tax rate. In Augusta, the property tax bills range significantly, with the 25th, 75th, and 90th percentiles all at $7,739, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property characteristics, location, and any applicable exemptions or deductions. Higher property taxes can impact homeowners by increasing their overall annual expenses, potentially making homeownership less affordable for some. However, these taxes are crucial for funding local services such as schools, infrastructure, and public safety, directly affecting the community's quality of life. Understanding how these taxes are calculated helps homeowners in Augusta plan their finances more effectively.
Average Augusta Tax Bill
$7,739
Average Adams County Tax Bill
$1,937
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Augusta, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62311 | $7,739 | $7,739 | $7,739 | $7,739 | $7,739 |
Source: Ownwell