Chandlerville, Illinois Property Taxes
The median property tax rate in Chandlerville, IL is 2.19%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Chandlerville, the typical annual property tax bill reaches $1,537, which is below the national median of $2,690. Property taxes in Chandlerville 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 Chandlerville'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 Chandlerville 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
Chandlerville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.19%
Estimate Property Tax Bill
$1,541
$1,506
Ownwell’s Chandlerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chandlerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chandlerville 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 Chandlerville, Illinois
Property taxes in Chandlerville, Illinois, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chandlerville is 2.19%, significantly higher than both the Illinois state median of 2.16% and the U.S. national median of 0.99%. Local government entities within Chandlerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chandlerville 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 Chandlerville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62627 zip code has the highest median property tax rate of 2.19%, while the same zip code also has the lowest median tax rate of 2.19%. Understanding how these cities compare with Chandlerville provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chandlerville Tax Rate
2.19%
Average Cass County Tax Rate
2.27%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chandlerville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62627 | 1.39% | 1.77% | 2.19% | 2.42% | 2.69% |
Source: Ownwell
Property Tax Assessment Values Across Chandlerville, Illinois
In Chandlerville, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Cass 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 Chandlerville, 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 Chandlerville 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 62627, with a median tax bill of $1537.
Average Chandlerville Assessed Value
$70,380
Average Cass County Assessed Value
$72,645
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chandlerville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62627 | $24,088 | $41,666 | $70,380 | $118,361 | $162,804 |
Source: Ownwell
Property Tax Bills Across Chandlerville, Illinois
In Chandlerville, located in Cass 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 homeowners, this means that the higher the market value of their property, the higher their property tax bill will be. The median home price in Chandlerville is $70,380, and the property tax rate in this area is significantly influenced by local government budgets and public service funding needs. To illustrate, homeowners in the 25th percentile can expect a tax bill around $787, while those in the 75th percentile might see bills up to $2,640. For those in the 90th percentile, the tax bill can reach $3,969. The highest and lowest median tax bill in Chandlerville both stand at $1,537, reflecting the uniformity within certain areas of the city. Compared to the national median property tax rate of 0.99%, homeowners in Chandlerville may find their tax rates to be relatively moderate, impacting their annual financial planning and homeownership costs.
Average Chandlerville Tax Bill
$1,537
Average Cass County Tax Bill
$1,681
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Chandlerville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62627 | $342 | $787 | $1,537 | $2,640 | $3,969 |
Source: Ownwell