Fayette County Property Taxes
The median property tax rate in Fayette County is 2.13%, 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 Fayette County at $73,758, the typical annual property tax bill reaches $1,347, which is below the national median of $2,690. Property taxes in Fayette 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 Fayette 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 Vandalia or another part of Fayette County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fayette County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.13%
Estimate Property Tax Bill
$1,571
$1,535
Ownwell’s Fayette County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Fayette County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Fayette County to estimate your property tax bill. This insight 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 Fayette County, Illinois
Property taxes in Fayette County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Fayette County is 2.13%, which is higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Fayette County set these rates annually, and they can vary significantly between different areas within the county. Each year, Fayette 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. The following data compares Fayette County's effective property tax rate with other counties in Illinois and the national median. For comparison, the city of Edgewood has one of the higher property tax rates in Illinois at 2.56%, while the city of Beecher City boasts one of the lowest at 1.88%. Analyzing how Fayette County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Fayette County Tax Rate
2.13%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fayette County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Altamont | 1.63% | 1.80% | 1.89% | 2.13% | 2.23% |
| Beecher City | 1.13% | 1.58% | 1.88% | 2.21% | 2.21% |
| Bingham | 1.43% | 1.89% | 2.15% | 2.20% | 2.23% |
| Brownstown | 1.31% | 1.87% | 2.21% | 2.49% | 2.49% |
| Cowden | 1.63% | 1.86% | 2.27% | 2.27% | 2.27% |
| Edgewood | 1.17% | 2.12% | 2.56% | 2.56% | 2.56% |
| Farina | 1.34% | 1.96% | 2.22% | 2.56% | 2.56% |
| Fillmore | 1.44% | 1.89% | 2.12% | 2.24% | 2.26% |
| Herrick | 1.09% | 1.58% | 1.91% | 2.24% | 2.27% |
| Keyesport | 1.92% | 2.30% | 2.43% | 2.49% | 2.49% |
| Kinmundy | 1.95% | 2.02% | 2.14% | 2.27% | 2.34% |
| Mulberry Grove | 0.98% | 1.70% | 2.23% | 2.48% | 2.71% |
| Nokomis | 2.17% | 2.17% | 2.17% | 2.17% | 2.17% |
| Patoka | 0.96% | 1.62% | 2.24% | 2.24% | 2.24% |
| Ramsey | 1.00% | 1.54% | 2.02% | 2.13% | 2.25% |
| Saint Elmo | 1.25% | 1.73% | 2.09% | 2.30% | 2.30% |
| Saint Peter | 1.64% | 1.99% | 2.39% | 2.39% | 2.57% |
| Shobonier | 1.33% | 1.78% | 2.11% | 2.27% | 2.45% |
| Vandalia | 1.45% | 1.96% | 2.28% | 2.42% | 2.94% |
| Vernon | 1.32% | 1.66% | 1.91% | 2.15% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Fayette County, Illinois
In Fayette County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. 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 Fayette 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 Fayette 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. Being aware of these valuation processes in Fayette County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Nokomis has the highest median tax bill at $3,692, while Fillmore has the lowest at $804.
Property Tax Assessment Values Across Fayette County, Illinois
Source: Ownwell
$37,206
$103,734
$170,262
Average Fayette County Assessed Value
$73,758
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fayette County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Altamont | $34,068 | $48,682 | $73,974 | $117,434 | $169,694 |
| Beecher City | $20,907 | $39,340 | $75,207 | $119,091 | $154,863 |
| Bingham | $16,170 | $27,339 | $51,516 | $103,404 | $152,130 |
| Brownstown | $14,076 | $32,027 | $73,318 | $124,301 | $174,499 |
| Cowden | $14,183 | $28,478 | $68,664 | $118,653 | $154,443 |
| Edgewood | $7,988 | $19,911 | $37,206 | $60,585 | $98,899 |
| Farina | $21,915 | $41,577 | $89,433 | $136,470 | $192,504 |
| Fillmore | $16,438 | $27,610 | $44,768 | $70,400 | $83,850 |
| Herrick | $19,337 | $32,354 | $71,931 | $125,265 | $194,873 |
| Keyesport | $31,786 | $32,702 | $46,922 | $101,425 | $127,644 |
| Kinmundy | $28,256 | $36,927 | $51,378 | $65,829 | $74,500 |
| Mulberry Grove | $21,006 | $39,410 | $81,441 | $136,720 | $203,750 |
| Nokomis | $170,262 | $170,262 | $170,262 | $170,262 | $170,262 |
| Patoka | $9,607 | $26,222 | $67,530 | $114,278 | $159,559 |
| Ramsey | $14,175 | $31,809 | $71,910 | $121,188 | $164,430 |
| Saint Elmo | $25,773 | $53,980 | $89,504 | $139,672 | $203,428 |
| Saint Peter | $25,883 | $51,448 | $82,102 | $151,187 | $200,927 |
| Shobonier | $21,503 | $54,359 | $90,201 | $134,012 | $180,290 |
| Vandalia | $10,278 | $33,120 | $67,476 | $124,812 | $178,859 |
| Vernon | $22,700 | $58,514 | $77,984 | $121,612 | $128,842 |
Source: Ownwell
Property Tax Bills Across Fayette County, Illinois
In Fayette County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, which is recalculated periodically. Various factors, such as property size, location, and improvements, influence this assessed value. The local tax rate is set by local government entities and can vary across different areas within the county. Homeowners in Fayette County experience a range of tax bills. For example, the 25th percentile tax bill is $632, while the 75th percentile tax bill is $2,388, and the 90th percentile reaches $3,633. In comparison, the national median property tax rate is 0.99%, highlighting the variability within the county. Cities like Nokomis see the highest median tax bill at $3,692, whereas Fillmore has the lowest at $804. These variations significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Fayette County Tax Bill
$1,347
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Fayette County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Altamont | $662 | $1,075 | $1,456 | $2,118 | $3,182 |
| Beecher City | $332 | $619 | $1,301 | $2,121 | $3,000 |
| Bingham | $306 | $480 | $847 | $1,923 | $3,099 |
| Brownstown | $276 | $592 | $1,358 | $2,366 | $3,510 |
| Cowden | $275 | $520 | $1,295 | $2,226 | $3,377 |
| Edgewood | $138 | $360 | $930 | $1,308 | $2,087 |
| Farina | $457 | $794 | $1,789 | $2,892 | $4,387 |
| Fillmore | $253 | $540 | $804 | $1,428 | $1,758 |
| Herrick | $346 | $573 | $1,185 | $2,136 | $3,644 |
| Keyesport | $754 | $767 | $984 | $2,187 | $3,175 |
| Kinmundy | $635 | $784 | $1,032 | $1,280 | $1,429 |
| Mulberry Grove | $246 | $666 | $1,567 | $3,173 | $4,284 |
| Nokomis | $3,692 | $3,692 | $3,692 | $3,692 | $3,692 |
| Patoka | $197 | $504 | $1,110 | $1,868 | $2,822 |
| Ramsey | $192 | $479 | $1,150 | $2,149 | $3,024 |
| Saint Elmo | $510 | $917 | $1,641 | $2,819 | $4,229 |
| Saint Peter | $565 | $849 | $1,717 | $2,984 | $4,219 |
| Shobonier | $458 | $940 | $1,695 | $2,600 | $3,528 |
| Vandalia | $222 | $679 | $1,398 | $2,510 | $3,760 |
| Vernon | $497 | $1,006 | $1,406 | $2,258 | $2,515 |
Source: Ownwell