Golden Eagle, Illinois Property Taxes
The median property tax rate in Golden Eagle, IL is 2.36%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $92,418 in Golden Eagle, the typical annual property tax bill reaches $1,819, which is below the national median of $2,690. Property taxes in Golden Eagle 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 Golden Eagle'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 Golden Eagle or another part of Calhoun County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Golden Eagle, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.36%
Estimate Property Tax Bill
$2,181
$2,024
Ownwell’s Golden Eagle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Golden Eagle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Golden Eagle 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 Golden Eagle, Illinois
Property taxes in Golden Eagle, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Golden Eagle is 2.36%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Golden Eagle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Golden Eagle 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 Golden Eagle's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62036 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 Golden Eagle provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Golden Eagle Tax Rate
2.36%
Average Calhoun County Tax Rate
2.36%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Golden Eagle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62036 | 1.39% | 1.99% | 2.36% | 2.36% | 2.36% |
Source: Ownwell
Property Tax Assessment Values Across Golden Eagle, Illinois
In Golden Eagle, 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 Calhoun County Assessment Office 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 Golden Eagle, 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 Golden Eagle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,819, found in zip code 62036.
Average Golden Eagle Assessed Value
$92,418
Average Calhoun County Assessed Value
$86,121
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Golden Eagle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62036 | $18,093 | $47,373 | $92,418 | $166,053 | $244,282 |
Source: Ownwell
Property Tax Bills Across Golden Eagle, Illinois
In Golden Eagle, 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 Golden Eagle is $92,418. Once the assessed value is determined, the local tax rate is applied to calculate the annual tax bill. Several factors influence the property tax bill, including the home’s assessed value, local tax rates, and any applicable exemptions. For homeowners in Golden Eagle, the 25th percentile tax bill is $967, while the 75th percentile reaches $3,179, and the 90th percentile can go up to $5,343. These figures illustrate the range of property tax burdens within the area. Comparatively, the median property tax rate in Golden Eagle is significantly higher than the national median rate of 0.99%. This higher tax rate can impact homeowners by increasing their annual expenses, making it essential for them to understand how their property taxes are calculated and managed.
Average Golden Eagle Tax Bill
$1,819
Average Calhoun County Tax Bill
$1,736
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Golden Eagle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62036 | $339 | $967 | $1,819 | $3,179 | $5,343 |
Source: Ownwell