Saint Joseph, Illinois Property Taxes
The median property tax rate in Saint Joseph, IL is 2.18%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Saint Joseph at $190,740, the typical annual property tax bill reaches $4,023, exceeding the national median of $2,690. Property taxes in Saint Joseph 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 Saint Joseph'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 Saint Joseph or another part of Champaign County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saint Joseph, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.18%
Estimate Property Tax Bill
$4,158
$3,859
Ownwell’s Saint Joseph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Joseph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Joseph 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 Saint Joseph, Illinois
Property taxes in Saint Joseph, Illinois, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Joseph is 2.18%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Saint Joseph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Joseph 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 Saint Joseph's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 61873 has the highest median property tax rate of 2.18%, while the same zip code also has the lowest median tax rate of 2.18%. Understanding how these cities compare with Saint Joseph provides valuable insights into the varying tax landscape across Champaign County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Joseph Tax Rate
2.18%
Average Champaign County Tax Rate
2.54%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Joseph, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61873 | 1.85% | 2.04% | 2.18% | 2.27% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across Saint Joseph, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Saint Joseph, Illinois. 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 Champaign 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 Saint Joseph, 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 Saint Joseph helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 61873 has the highest and lowest median tax bill at $4,023.
Average Saint Joseph Assessed Value
$190,740
Average Champaign County Assessed Value
$152,850
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Joseph, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61873 | $111,030 | $148,942 | $190,740 | $234,735 | $297,030 |
Source: Ownwell
Property Tax Bills Across Saint Joseph, Illinois
In Saint Joseph, Champaign County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Several factors influence the market value, including the property's location, size, age, and condition, as well as recent sales of similar properties in the area. Homeowners in Saint Joseph face varying property tax bills, with the 25th percentile at $2,956 and the 75th percentile reaching $5,144. The 90th percentile tax bill can be as high as $6,690. The highest median tax bill in the area is $4,023, found in the 61873 zip code. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the local government's funding needs for public services such as schools, infrastructure, and emergency services. Consequently, homeowners need to budget accordingly to cover these annual expenses.
Average Saint Joseph Tax Bill
$4,023
Average Champaign County Tax Bill
$3,816
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Joseph, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61873 | $2,098 | $2,956 | $4,023 | $5,144 | $6,690 |
Source: Ownwell