Saint Peter, Fayette County, Illinois Property Taxes
Median Saint Peter, IL effective property tax rate: 2.39%, significantly higher than the national median of 1.02%, but slightly higher than the Illinois state median of 2.35%.
Median Saint Peter, IL home value: $82,102
Median annual Saint Peter, IL tax bill: $1,717, $683 lower than the national median property tax bill of $2,400.
How are property taxes in Fayette calculated?
Property taxes in Saint Peter, 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 Peter’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Saint Peter, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Saint Peter, Fayette County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.39%
Estimate Property Tax Bill
$1,962
$1,821
Property Tax Rates Across Saint Peter, Fayette County, Illinois
Local government entities in Illinois set property tax rates, which can vary widely within the state. This variation occurs because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the general process followed each year.
In Saint Peter, located in Fayette County, the effective property tax rate is a reflection of this process. When compared to other cities in Illinois, Saint Peter's tax rate provides insight into the broader tax landscape of the state. Illinois boasts a median property tax rate of 2.39%, significantly higher than the national median of 1.02%. This places Illinois among the states with the highest property tax rates in the country, impacting homeowners' annual tax bills. Understanding these rates is crucial for property owners in Saint Peter who are navigating their tax responsibilities and seeking potential savings through appeals or exemptions.
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 Peter Tax Rate
2.39%
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 Fayette County Tax Rate
2.13%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Saint Peter, Fayette County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62880 | 1.64% | 1.99% | 2.39% | 2.39% | 2.57% |
Source: Ownwell
Property Tax Assessment Values Across Saint Peter, Fayette County, Illinois
When examining property taxes in Saint Peter, 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 Peter.
For example, the median home price in Saint Peter is $82,102, with tax bills ranging significantly across the county. Zip code 62880 has the highest median home price at $82,102.
Property Tax Assessment Values Across Saint Peter, Fayette County, Illinois
Source: Ownwell
$37,206
$63,704
$90,201
Median Saint Peter Market Value
$82,102
Median Fayette County Market Value
$73,758
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Saint Peter, Fayette County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62880 | $25,883 | $51,448 | $82,102 | $151,187 | $200,927 |
Source: Ownwell
Property Tax Bills Across Saint Peter, Fayette County, Illinois
In Saint Peter, IL, property tax bills are determined by the assessed value of a home, which is a percentage of its market value, and the local tax rate. For homeowners in Fayette County, the median tax bill is $1,717, which is significantly lower than the national median of $2,400. Factors influencing this bill include the property's assessed value, any applicable exemptions, and the local tax rate. Despite a lower median tax bill, homeowners in Saint Peter can still face financial burdens, especially when tax bills reach the 90th percentile at $4,219. This discrepancy can be challenging for those with properties valued at the higher end.
Ownwell offers a solution by assisting homeowners in appealing their property tax assessments and identifying potential exemptions, which can lead to significant savings. Our expertise ensures that assessments are fair and accurate, potentially lowering the tax burden. By partnering with Ownwell, homeowners in Saint Peter can achieve peace of mind knowing they are paying the lowest possible property taxes.
Median Saint Peter Tax Bill
$1,717
Median Fayette County Tax Bill
$1,347
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Saint Peter, Fayette County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62880 | $565 | $849 | $1,717 | $2,984 | $4,219 |
Source: Ownwell