Camp Point, Illinois Property Taxes
The median property tax rate in Camp Point, IL is 2.06%, significantly higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With the median home value in Camp Point, the typical annual property tax bill reaches $867, which is below the national median of $2,690. Property taxes in Camp Point are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Camp Point'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 Camp Point 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
Camp Point, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.06%
Estimate Property Tax Bill
$915
$849
Ownwell’s CAMP POINT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CAMP POINT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CAMP POINT 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 Camp Point, Illinois
Property taxes in Camp Point, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Camp Point is 2.06%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Camp Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Camp Point 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 Camp Point's effective property tax rate to other areas and the national median. For comparison, the zip code 62320 has the highest median property tax rate of 2.06%, while the same zip code also has the lowest median tax rate of 2.06%. Understanding how these rates compare with Camp Point 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 Camp Point Tax Rate
2.06%
Average Adams County Tax Rate
2.23%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Camp Point, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62320 | 1.99% | 2.04% | 2.06% | 2.24% | 2.24% |
Source: Ownwell
Property Tax Assessment Values Across Camp Point, Illinois
In Camp Point, 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 Camp Point, 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 Camp Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $44,430, with the highest median tax bill recorded at $867 in zip code 62320.
Average Camp Point Assessed Value
$44,430
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 Camp Point, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62320 | $9,588 | $11,550 | $44,430 | $89,040 | $148,458 |
Source: Ownwell
Property Tax Bills Across Camp Point, Illinois
In Camp Point, located in Adams County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $44,430. Local tax authorities determine the assessed value, which is then multiplied by the local tax rate to calculate the tax bill. For Camp Point, the median property tax rate is 0.99%, aligning with the national median. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Camp Point experience a range of property tax bills; the 25th percentile pays around $259, while the 75th percentile pays approximately $1,819. At the higher end, the 90th percentile can see tax bills as high as $3,051. This variation highlights the impact of property value and local tax rates on individual tax obligations. Understanding these factors helps homeowners anticipate their property tax bills and manage their finances effectively.
Average Camp Point Tax Bill
$867
Average Adams County Tax Bill
$1,937
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Camp Point, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62320 | $215 | $259 | $867 | $1,819 | $3,051 |
Source: Ownwell