Clay City, Clay County, Illinois Property Taxes

Name: Property Tax Bills Across Clay City, Clay County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Clay City, IL effective property tax rate: 1.72%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Clay City, IL home value: $39,450. Median annual Clay City, IL tax bill: $641, $1,759 lower than the national median property tax bill of $2,400.

How are property taxes in Clay calculated?

Property taxes in Clay City, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Clay City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Clay City, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Clay City, Clay County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.72%

Estimate Property Tax Bill

$679

$630

Ownwell’s Clay City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Clay City with just two data points.

By entering your property's estimated assessed value, our calculator applies Clay City’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Clay County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Clay City, Clay County, Illinois

Local government entities determine tax rates, which can vary significantly within a state. Each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell. Below, you can compare Clay City’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Clay City, Clay County, Illinois

Source: Ownwell

1.45%

1.70%

1.94%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Clay City Taxx Rate

1.72%

Median Effective Clay County Taxx Rate

1.78%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Clay City, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62824	0.51%	1.05%	1.72%	2.11%	2.45%

Source: Ownwell

Property Tax Assessment Values Across Clay City, Clay County, Illinois

When examining property taxes in Clay City, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Clay County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

Assessment notices are sent in the spring each year in Clay County. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Clay City.

For example, the median home price in Clay City is $39,450, with tax bills ranging significantly across the county. Zip code 62824 has the highest median home price at $39,450.

Property Tax Assessment Values Across Clay City, Clay County, Illinois

Source: Ownwell

$29,055

$39,255

$49,455

Median Clay City Market Value

$39,450

Median Clay County Market Value

$42,012

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Clay City, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62824	$11,154	$20,928	$39,450	$78,806	$123,081

Source: Ownwell

Property Tax Bills Across Clay City, Clay County, Illinois

In Clay City, IL, 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 Clay City is $39,450, and the tax bill is influenced by local tax rates and levies set by various taxing authorities. The median property tax bill in the area is $641, which is significantly lower than the national median of $2,400. This means that while homeowners in Clay City benefit from lower tax bills, they still need to ensure their assessments are accurate to avoid overpaying. Factors such as local government budgets, school funding, and infrastructure needs can all influence tax rates, potentially affecting homeowners' tax bills each year. Ownwell can assist homeowners by reviewing their property assessments and identifying potential discrepancies. By filing appeals and seeking exemptions when applicable, Ownwell helps homeowners reduce their tax burdens, ensuring they only pay their fair share and potentially saving them hundreds of dollars annually.

Property Tax Bills Across Clay City, Clay County, Illinois

Source: Ownwell

$334

$583

$832

Median Clay City Tax Bill

$641

Median Clay County Tax Bill

$639

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Clay City, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62824	$89	$219	$641	$1,487	$2,499

Source: Ownwell