Sailor Springs, Illinois Property Taxes
The median property tax rate in Sailor Springs, IL is 1.13%, slightly higher than the national median of 0.99% but significantly lower than the Illinois state median of 2.35%. With a median home value of $22,754 in Sailor Springs, the typical annual property tax bill is $189, well below the national median of $2,690. Property taxes in Sailor Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Sailor Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sailor Springs or another part of Clay County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sailor Springs, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$257
$251
Ownwell’s Sailor Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sailor Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sailor Springs 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 Sailor Springs, Illinois
Property taxes in Sailor Springs, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sailor Springs is 1.13%, higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Sailor Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sailor Springs 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 Sailor Springs' effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62824 has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these areas compare with Sailor Springs provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sailor Springs Tax Rate
1.13%
Average Clay County Tax Rate
1.78%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sailor Springs, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62824 | 0.19% | 0.76% | 1.13% | 1.56% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Sailor Springs, Illinois
In Sailor Springs, 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 Clay 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 Sailor Springs, 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 Sailor Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $189.00 in the zip code 62824.
Average Sailor Springs Assessed Value
$22,754
Average Clay County Assessed Value
$42,012
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sailor Springs, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62824 | $11,029 | $17,596 | $22,754 | $39,905 | $67,536 |
Source: Ownwell
Property Tax Bills Across Sailor Springs, Illinois
In Sailor Springs, located in Clay County, IL, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and typically represents a percentage of the property's market value. Various factors such as property size, location, and improvements are considered in this assessment. Homeowners in Sailor Springs experience property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is $100, while at the 75th percentile, it rises to $552. At the 90th percentile, homeowners may see a tax bill of $1162. These figures highlight the range of property tax liabilities within the city. Compared to the national median property tax rate of 0.99%, Sailor Springs presents a diverse tax landscape. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Sailor Springs Tax Bill
$189
Average Clay County Tax Bill
$639
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Sailor Springs, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62824 | $37 | $100 | $189 | $552 | $1,162 |
Source: Ownwell