Saint Elmo, Fayette County, Illinois Property Taxes

Name: Property Tax Bills Across Saint Elmo, Fayette County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Saint Elmo, IL effective property tax rate: 2.09%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Saint Elmo, IL home value: $89,504
Median annual Saint Elmo, IL tax bill: $1,641, $759 lower than the national median property tax bill of $2,400.

How are property taxes in Fayette calculated?

Property taxes in Saint Elmo, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Saint Elmo’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Saint Elmo, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Saint Elmo, Fayette County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.09%

Estimate Property Tax Bill

$1,871

$1,736

Ownwell’s Saint Elmo Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Saint Elmo with just two data points. By entering your property's estimated assessed value, our calculator applies Saint Elmo’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Fayette County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Saint Elmo, Fayette County, Illinois

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

In Saint Elmo, located in Fayette County, Illinois, the effective property tax rate is 2.09%. This rate stands out when compared to the national median property tax rate of 1.02%. Such a rate can significantly impact homeowners' annual tax bills, especially when contrasted with the national median property tax bill of $2,400. When looking at property taxes in Illinois, it is essential to consider how Saint Elmo compares to other cities within the state.

Understanding these differences can help homeowners make informed decisions about property investments and tax appeals. Whether you're a current homeowner or considering purchasing property in Saint Elmo, knowing the local tax landscape is crucial.

Property Tax Rates Across Saint Elmo, Fayette County, Illinois

Source: Ownwell

1.88%

2.22%

2.56%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Saint Elmo Taxx Rate

2.09%

Median Effective Fayette County Taxx Rate

2.13%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Saint Elmo, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62458	1.25%	1.73%	2.09%	2.30%	2.30%

Source: Ownwell

Property Tax Assessment Values Across Saint Elmo, Fayette County, Illinois

When examining property taxes in Saint Elmo, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Fayette County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Fayette County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Saint Elmo. For example, the median home price in Saint Elmo is $89,504, with tax bills ranging significantly across the county. Zip code 62458 has the highest median home price at $89,504.

Property Tax Assessment Values Across Saint Elmo, Fayette County, Illinois

Source: Ownwell

$37,206

$63,704

$90,201

Median Saint Elmo Market Value

$89,504

Median Fayette County Market Value

$73,758

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Saint Elmo, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62458	$25,773	$53,980	$89,504	$139,672	$203,428

Source: Ownwell

Property Tax Bills Across Saint Elmo, Fayette County, Illinois

In Saint Elmo, Fayette County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the market value of the property. The local tax rate is then applied to this assessed value to determine the annual property tax bill. The median tax bill in this area is $1,641, which is below the national median of $2,400, reflecting the relatively lower home prices and tax rates in the region. Factors such as changes in market value, local government budgets, and tax rate adjustments can influence the final tax bill. For homeowners, these taxes can represent a significant portion of annual expenses. Ownwell offers valuable assistance by reviewing property assessments and identifying opportunities for appeals or exemptions. By leveraging expert knowledge and local data, Ownwell can help homeowners in Saint Elmo potentially lower their property tax bills, ensuring they only pay their fair share.

Property Tax Bills Across Saint Elmo, Fayette County, Illinois

Source: Ownwell

$847

$1,318

$1,789

Median Saint Elmo Tax Bill

$1,641

Median Fayette County Tax Bill

$1,347

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Saint Elmo, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62458	$510	$917	$1,641	$2,819	$4,229

Source: Ownwell