Ursa, Illinois Property Taxes
The median property tax rate in Ursa, IL is 2.36%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Ursa at $76,845, the typical annual property tax bill reaches $1,796, which is below the national median of $2,690. Property taxes in Ursa 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 Ursa'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 Ursa or another part of Adams County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ursa, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.36%
Estimate Property Tax Bill
$1,814
$1,683
Ownwell’s URSA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in URSA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in URSA 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 Ursa, Illinois
Property taxes in Ursa, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ursa is 2.36%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ursa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ursa 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 Ursa's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62376 zip code has the highest median property tax rate of 2.36%, while the same zip code also has the lowest median tax rate of 2.36%. Understanding how these cities compare with Ursa 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 Ursa Tax Rate
2.36%
Average Adams County Tax Rate
2.23%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ursa, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62376 | 2.32% | 2.35% | 2.36% | 2.36% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Ursa, Illinois
In URSA, 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 URSA, 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 URSA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 62376 has the highest median tax bill at $1,796, which is above the national median property tax rate of 0.99%.
Average Ursa Assessed Value
$76,845
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 Ursa, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62376 | $11,496 | $19,560 | $76,845 | $93,728 | $112,395 |
Source: Ownwell
Property Tax Bills Across Ursa, Illinois
Property tax bills in Ursa, located in Adams County, Illinois, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Ursa stands at $76,845. Property tax rates in this region are influenced by local government budgets and the specific needs of the community, including funding for schools, infrastructure, and public services. Homeowners in Ursa experience a range of tax bills. The 25th percentile tax bill is $461, while the 75th percentile tax bill reaches $2,115. For those at the higher end, the 90th percentile tax bill can be as much as $2,560. These figures suggest significant variability in tax burdens based on property values and specific assessments. Compared to the national median property tax rate of 0.99%, Ursa's property tax rates can vary widely, affecting homeowners differently. Higher property taxes can impact affordability and overall cost of living, making it essential for homeowners to understand their assessments and potential exemptions.
Average Ursa Tax Bill
$1,796
Average Adams County Tax Bill
$1,937
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Ursa, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62376 | $274 | $461 | $1,796 | $2,115 | $2,560 |
Source: Ownwell