Beecher City, Illinois Property Taxes
The median property tax rate in Beecher City, IL is 1.56%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Beecher City at $126,705, the typical annual property tax bill reaches $1,755, which exceeds the national median of $2,690. Property taxes in Beecher City 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 Beecher City'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 Beecher City or another part of Effingham County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beecher City, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$1,977
$1,834
Ownwell’s Beecher City Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Beecher City with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Beecher City to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Effingham County for tax calculations, incorporating any applicable exemptions.
Property Tax Rates Across Beecher City, Illinois
Property taxes in Beecher City, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beecher City is 1.56%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Beecher City set these rates annually, and they can vary across different neighborhoods. Each year, Beecher City 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 Beecher City's effective property tax rate to other areas in Effingham County and the national median. For comparison, the 62414 zip code has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Beecher City provides valuable insights into the varying tax landscape across Effingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beecher City Tax Rate
1.56%
Average Effingham County Tax Rate
1.69%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beecher City, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62414 | 0.20% | 1.04% | 1.56% | 1.81% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Beecher City, Illinois
In Beecher City, 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 Effingham 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. 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 Beecher City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Beecher City is $126,705, with the highest median tax bill recorded at $1,755 in zip code 62414.
Average Beecher City Assessed Value
$126,705
Average Effingham County Assessed Value
$155,790
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beecher City, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62414 | $36,090 | $68,745 | $126,705 | $176,392 | $240,300 |
Source: Ownwell
Property Tax Bills Across Beecher City, Illinois
In Beecher City, Effingham County, IL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local government determines this assessed value and then applies the applicable tax rate. For homeowners in Beecher City, the median home price is $126,705. Property tax bills can vary significantly, with the 25th percentile paying around $605 and the 75th percentile facing bills up to $2,765. Those in the 90th percentile may see tax bills as high as $3,621. These property taxes fund essential services such as public schools, infrastructure, and emergency services. For homeowners, understanding these factors is crucial as property taxes can represent a significant annual expense. Compared to the national median property tax rate of 0.99%, Beecher City's property tax rates reflect the local government's revenue needs and the value placed on community services. This variability underscores the importance of accurate property assessments and potential appeals to ensure fair taxation.
Average Beecher City Tax Bill
$1,755
Average Effingham County Tax Bill
$2,476
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Beecher City, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62414 | $101 | $605 | $1,755 | $2,765 | $3,621 |
Source: Ownwell