Farina, Clay County, Illinois Property Taxes

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

Median Farina, IL effective property tax rate: 1.62%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Farina, IL home value: $42,390
Median annual Farina, IL tax bill: $548, $1,852 lower than the national median property tax bill of $2,400.

How are property taxes in Clay County calculated?

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

Last Updated March 1, 2025

Farina, Clay County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.62%

Estimate Property Tax Bill

$687

$637

Ownwell’s Farina Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Farina with just two data points. By entering your property's estimated assessed value, our calculator applies Farina’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 Farina, Clay County, Illinois

Local government entities determine tax rates, which can differ significantly within a state. This occurs because each year, counties estimate their necessary budget to provide services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Votes and laws play a role in setting these tax rates and budgets, but this is the essence of the annual process. In Farina, located in Clay County, Illinois, the effective property tax rate stands at 1.62%. This rate is notably higher than the national median property tax rate of 1.02%, reflecting Illinois's tendency for higher property tax rates. When compared to other cities within Illinois, Farina's rate is consistent with the state's median, which also stands at 1.62%. This consistency suggests a uniformity in tax rates across the state, contrasting with the national landscape where rates can vary more widely. Understanding these rates can help property owners in Farina and beyond make informed decisions about property investments and financial planning.

Property Tax Rates Across Farina, 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 Farina Taxx Rate

1.62%

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 Farina, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62838	0.41%	0.98%	1.62%	2.12%	2.35%

Source: Ownwell

Property Tax Assessment Values Across Farina, Clay County, Illinois

When examining property taxes in Farina, 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 appraisal district 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.

In Clay County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Farina. For example, the median home price in Farina is $42,390, with tax bills ranging significantly across the county. Zip code 62838 has the highest median home price at $42,390.

Property Tax Assessment Values Across Farina, Clay County, Illinois

Source: Ownwell

$29,055

$39,255

$49,455

Median Farina Market Value

$42,390

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 Farina, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62838	$14,482	$21,740	$42,390	$90,844	$124,850

Source: Ownwell

Property Tax Bills Across Farina, Clay County, Illinois

Property tax bills in Farina, located in Clay County, Illinois, are calculated based on the assessed value of a property, which is determined by the local assessor's office. The tax rate is applied to this assessed value to determine the annual tax bill. In Farina, the median home price is $42,390, and the median tax bills range from $171 at the 25th percentile to $2,654 at the 90th percentile. This variation highlights the impact of assessed property values and local tax rates on homeowners' annual expenses. Compared to the national median property tax bill of $2,400, Farina's tax burden can be considered moderate, depending on the specific property. Homeowners in Farina can benefit from Ownwell's expertise in property tax appeal and exemption services. By leveraging local market data and legal expertise, Ownwell can identify discrepancies in property assessments and ensure homeowners are not overpaying on their tax bills. This service can lead to significant savings and provide peace of mind for property owners.

Property Tax Bills Across Farina, Clay County, Illinois

Source: Ownwell

$334

$583

$832

Median Farina Tax Bill

$548

Median Clay County Tax Bill

$639

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Farina, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62838	$62	$171	$548	$1,779	$2,654

Source: Ownwell