Mozier, Illinois Property Taxes
The median property tax rate in Mozier, IL is 2.51%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $53,367 in Mozier, the typical annual property tax bill reaches $1,115, surpassing the national median of $2,690. Property taxes in Mozier are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mozier'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 Mozier 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
Mozier, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$1,340
$1,243
Ownwell’s Mozier Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mozier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mozier 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 Mozier, Illinois
Property taxes in Mozier, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mozier is 2.51%, significantly higher than the Illinois state median and the U.S. national median of 0.99%. Local government entities within Mozier set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mozier 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 Mozier's effective property tax rate to other areas in Illinois and the national median. For comparison, the 62070 zip code has the highest median property tax rate of 2.51%, while the same zip code also has the lowest median tax rate of 2.51%. Understanding how these areas compare with Mozier 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 Mozier Tax Rate
2.51%
Average Calhoun County Tax Rate
2.36%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mozier, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62070 | 1.69% | 2.39% | 2.51% | 2.54% | 2.54% |
Source: Ownwell
Property Tax Assessment Values Across Mozier, Illinois
In Mozier, 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 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 Mozier, 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 Mozier helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mozier is $53,367, with tax bills ranging from $717 at the 25th percentile to $2,343 at the 90th percentile. The highest and lowest median tax bills are both $1,115 in the 62070 zip code.
Average Mozier Assessed Value
$53,367
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 Mozier, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62070 | $19,572 | $28,422 | $53,367 | $90,532 | $163,254 |
Source: Ownwell
Property Tax Bills Across Mozier, Illinois
In Mozier, located in Calhoun County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For example, with a median home price of $53,367, homeowners can expect their property taxes to be derived from this assessed value. The tax rate applied to this value determines the final tax bill. Several factors influence the tax bill, including local government budgets, school district funding needs, and other municipal services. In Mozier, the 25th percentile tax bill is around $717, while the 75th percentile tax bill is approximately $2,007. The highest median tax bill in the area is noted as $1,115, and the 90th percentile tax bill reaches up to $2,343. These property taxes significantly impact homeowners, as they contribute to the overall cost of owning property. Compared to the national median property tax rate of 0.99%, Mozier's tax bills reflect the local economic conditions and funding requirements, thereby shaping the financial landscape for residents.
Average Mozier Tax Bill
$1,115
Average Calhoun County Tax Bill
$1,736
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Mozier, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62070 | $491 | $717 | $1,115 | $2,007 | $2,343 |
Source: Ownwell