Keyesport, Illinois Property Taxes
The median property tax rate in Keyesport, IL is 1.95%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Keyesport at $59,805, the typical annual property tax bill reaches $963, which is below the national median of $2,690. Property taxes in Keyesport 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 Keyesport’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 Keyesport 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
Keyesport, 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 Keyesport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Keyesport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keyesport 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 Keyesport, Illinois
Property taxes in Keyesport, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Keyesport is 1.95%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Keyesport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keyesport 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 Keyesport's effective property tax rate to other areas in Illinois and the national median. For comparison, the 62253 zip code has the highest median property tax rate of 1.95%, while the same zip code also has the lowest median tax rate of 1.95%. Understanding how these areas compare with Keyesport 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 Keyesport Tax Rate
1.95%
Average Clinton County Tax Rate
2.02%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keyesport, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62253 | 0.81% | 1.29% | 1.95% | 2.09% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Keyesport, Illinois
In Keyesport, 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 Clinton 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 Keyesport, 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. The median home price in Keyesport is $59,805, with tax bills ranging from $545 at the 25th percentile to $2,428 at the 90th percentile. The highest and lowest median tax bill is $963 in zip code 62253. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Keyesport Assessed Value
$59,805
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 Keyesport, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62253 | $22,941 | $37,928 | $59,805 | $97,380 | $134,066 |
Source: Ownwell
Property Tax Bills Across Keyesport, Illinois
In Keyesport, located in Clinton County, IL, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is determined by local assessors. Several factors influence this valuation, including the home's location, size, age, and condition, as well as recent sales of comparable properties in the area. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For homeowners in Keyesport, the median home price is $59,805. Tax bills can vary significantly, with the 25th percentile at $545 and the 75th percentile reaching $1,592. At the 90th percentile, tax bills can go up to $2,428. The median tax bill in the area is $963, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in Keyesport.
Average Keyesport Tax Bill
$963
Average Clinton County Tax Bill
$2,760
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Keyesport, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62253 | $279 | $545 | $963 | $1,592 | $2,428 |
Source: Ownwell