Carlyle, Illinois Property Taxes
The median property tax rate in Carlyle, IL is 1.90%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Carlyle, the typical annual property tax bill reaches $2,010, exceeding the national median of $2,690. Property taxes in Carlyle 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 Carlyle'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 Carlyle 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
Carlyle, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Carlyle Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Carlyle with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Carlyle to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities effortlessly. For those interested in more localized trends, scroll down to discover neighborhood-specific information. Your property’s assessed value is the figure determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Carlyle, Illinois
Property taxes in Carlyle, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carlyle is 1.90%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Carlyle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carlyle 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 Carlyle's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62231 has the highest median property tax rate of 1.90%, while the same zip code also has the lowest median tax rate of 1.90%. Understanding how these cities compare with Carlyle provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carlyle Tax Rate
1.90%
Average Clinton County Tax Rate
2.02%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carlyle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62231 | 1.30% | 1.66% | 1.90% | 2.08% | 2.24% |
Source: Ownwell
Property Tax Assessment Values Across Carlyle, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Carlyle, 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 Clinton 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 Carlyle, 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 Carlyle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Carlyle are both $2010, found in the 62231 zip code.
Average Carlyle Assessed Value
$112,410
Average Clinton County Assessed Value
$140,970
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carlyle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62231 | $29,942 | $66,210 | $112,410 | $170,880 | $238,836 |
Source: Ownwell
Property Tax Bills Across Carlyle, Illinois
In Carlyle, Clinton County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $112,410, the property tax rate in Carlyle is used to compute the annual tax bill. The tax bill can vary significantly, with the 25th percentile at $1,138 and the 75th percentile reaching $3,279. At the higher end, the 90th percentile tax bill is $4,713. Factors such as property improvements, neighborhood developments, and local government budgets influence these assessments. Homeowners in Carlyle may notice that their property tax bills are higher or lower than the national median property tax rate of 0.99%, reflecting the local economic conditions and public service funding needs. This variability in property tax bills can significantly impact homeowners' annual expenses, influencing decisions on home buying and long-term financial planning.
Average Carlyle Tax Bill
$2,010
Average Clinton County Tax Bill
$2,760
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Carlyle, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62231 | $526 | $1,138 | $2,010 | $3,279 | $4,713 |
Source: Ownwell