Coles County Property Taxes
The median property tax rate in Coles County is 2.84%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Coles County, the typical annual property tax bill reaches $1,659, which exceeds the national median of $2,690. Property taxes in Coles County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Coles County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Charleston or another part of Coles County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coles County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.84%
Estimate Property Tax Bill
$1,826
$1,694
Ownwell’s Coles County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Coles County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Coles County to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Coles County, Illinois
Property taxes in Coles County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Coles County is 2.84%, which is significantly higher than the Illinois state median and the U.S. national median of 0.99%. Local government entities within Coles County set these rates annually, and they can vary significantly between different areas within the county. Each year, Coles County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Oakland has one of the higher property tax rates in Illinois at 3.07%, while the city of Gays boasts one of the lowest at 2.12%. Analyzing how Coles County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Coles County Tax Rate
2.84%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coles County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arcola | 2.22% | 2.39% | 2.61% | 2.78% | 2.98% |
| Arthur | 2.04% | 2.28% | 2.40% | 2.53% | 2.90% |
| Ashmore | 1.63% | 2.02% | 2.22% | 2.23% | 2.47% |
| Casey | 1.96% | 2.39% | 2.39% | 2.51% | 2.87% |
| Charleston | 1.94% | 2.23% | 2.84% | 2.84% | 2.84% |
| Gays | 1.85% | 1.93% | 2.12% | 2.20% | 2.40% |
| Hindsboro | 1.95% | 2.19% | 2.28% | 2.71% | 2.92% |
| Humboldt | 1.75% | 2.33% | 2.42% | 2.47% | 2.68% |
| Kansas | N/A | N/A | N/A | N/A | N/A |
| Lerna | 1.64% | 2.15% | 2.30% | 2.42% | 2.60% |
| Mattoon | 1.81% | 2.28% | 2.91% | 2.92% | 2.93% |
| Neoga | 1.93% | 1.93% | 2.23% | 3.78% | 6.04% |
| Oakland | 2.06% | 2.69% | 3.07% | 3.09% | 3.09% |
| Sullivan | 1.95% | 2.36% | 2.50% | 2.65% | 2.78% |
| Trilla | 1.30% | 2.07% | 2.36% | 2.36% | 2.59% |
| Westfield | 2.05% | 2.28% | 2.39% | 2.60% | 2.77% |
Source: Ownwell
Property Tax Assessment Values Across Coles County, Illinois
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Coles County, Illinois. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Coles County Appraisal District. The assessed value, however, 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. Assessment notices in Coles County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, Arcola has the highest median tax bill at $3,762, while Neoga has the lowest at $952. Being aware of these valuation processes in Coles County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Coles County Assessed Value
$64,296
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coles County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arcola | $11,014 | $36,570 | $119,384 | $213,518 | $289,642 |
| Arthur | $12,219 | $62,470 | $122,496 | $206,608 | $302,989 |
| Ashmore | $15,119 | $33,510 | $70,425 | $135,558 | $208,789 |
| Casey | $8,705 | $18,927 | $65,877 | $88,971 | $144,386 |
| Charleston | $23,674 | $41,031 | $68,916 | $111,327 | $178,577 |
| Gays | $32,904 | $69,312 | $87,897 | $117,573 | $158,681 |
| Hindsboro | $69,457 | $73,608 | $98,373 | $220,230 | $240,117 |
| Humboldt | $11,857 | $35,787 | $79,212 | $145,662 | $245,659 |
| Kansas | N/A | N/A | N/A | N/A | N/A |
| Lerna | $9,667 | $22,050 | $62,469 | $124,809 | $193,053 |
| Mattoon | $27,216 | $40,868 | $58,383 | $89,610 | $141,387 |
| Neoga | $10,808 | $11,948 | $31,042 | $86,251 | $152,397 |
| Oakland | $12,104 | $25,611 | $55,224 | $105,789 | $179,791 |
| Sullivan | $25,071 | $39,258 | $74,241 | $161,958 | $248,932 |
| Trilla | $15,621 | $31,880 | $63,837 | $88,047 | $191,628 |
| Westfield | $23,598 | $56,136 | $101,824 | $151,357 | $296,754 |
Source: Ownwell
Property Tax Bills Across Coles County, Illinois
In Coles County, IL, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value of the property. Various factors such as property size, location, and improvements can influence this assessment. Once the assessed value is established, local tax rates are applied to calculate the tax bill. For homeowners in Coles County, the median home price is $64,296. The tax bill at the 25th percentile is $998, while at the 75th percentile, it rises to $2,679. For those at the 90th percentile, the tax bill can reach up to $4,505. The highest median tax bill in the county is found in Arcola, where it stands at $3,762, while Neoga has the lowest median tax bill at $952. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Coles County Tax Bill
$1,659
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Coles County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arcola | $484 | $1,988 | $3,762 | $6,658 | $10,788 |
| Arthur | $758 | $1,737 | $2,790 | $5,246 | $7,338 |
| Ashmore | $360 | $699 | $1,484 | $2,938 | $4,680 |
| Casey | $411 | $593 | $1,636 | $2,265 | $3,327 |
| Charleston | $556 | $1,062 | $1,768 | $2,825 | $4,443 |
| Gays | $645 | $1,522 | $1,906 | $2,369 | $3,246 |
| Hindsboro | $1,841 | $1,992 | $2,243 | $3,963 | $5,444 |
| Humboldt | $371 | $828 | $1,897 | $3,699 | $6,561 |
| Kansas | N/A | N/A | N/A | N/A | N/A |
| Lerna | $269 | $531 | $1,374 | $2,742 | $5,182 |
| Mattoon | $598 | $1,041 | $1,570 | $2,288 | $3,710 |
| Neoga | $420 | $761 | $952 | $1,955 | $3,759 |
| Oakland | $360 | $714 | $1,544 | $2,773 | $4,633 |
| Sullivan | $428 | $790 | $2,040 | $4,057 | $5,921 |
| Trilla | $246 | $501 | $1,172 | $2,056 | $4,069 |
| Westfield | $791 | $1,488 | $2,574 | $3,834 | $7,457 |
Source: Ownwell