Gallatin County Property Taxes
The median property tax rate in Gallatin County is 1.71%, 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 Gallatin County, the typical annual property tax bill reaches $496, which is well below the national median of $2,690. Property taxes in Gallatin 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 Gallatin 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 Shawneetown or another part of Gallatin County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gallatin County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$759
$742
Ownwell’s Gallatin County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Gallatin County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Gallatin 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 Gallatin County, Illinois
Property taxes in Gallatin County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Gallatin County is 1.71%, which is higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Gallatin County set these rates annually, and they can vary significantly between different areas within the county. Each year, Gallatin 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 Gallatin County's effective property tax rate with other counties in Illinois and the national median. For comparison, the city of Ridgway has one of the higher property tax rates in Illinois at 1.93%, while the city of New Haven boasts one of the lowest at 1.25%. Analyzing how Gallatin County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Gallatin County Tax Rate
1.71%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gallatin County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Eldorado | 1.06% | 1.67% | 1.90% | 2.58% | 2.76% |
| Elizabethtown | 0.42% | 0.92% | 1.75% | 2.09% | 3.62% |
| Equality | N/A | N/A | N/A | N/A | N/A |
| Junction | 0.20% | 0.56% | 1.67% | 2.29% | 2.78% |
| New Haven | 0.16% | 0.58% | 1.25% | 2.22% | 2.67% |
| Norris City | 0.19% | 1.02% | 1.85% | 2.01% | 2.10% |
| Omaha | 0.16% | 0.48% | 1.60% | 2.36% | 2.67% |
| Ridgway | 0.20% | 0.60% | 1.93% | 2.62% | 3.19% |
| Shawneetown | 0.17% | 0.54% | 1.81% | 2.70% | 3.12% |
Source: Ownwell
Property Tax Assessment Values Across Gallatin County, Illinois
In Gallatin 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 Gallatin 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 Gallatin 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. Gallatin County's highest median tax bill is found in Eldorado at $1,309, while the lowest is in New Haven at $209. Being aware of these valuation processes in Gallatin County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Gallatin County Assessed Value
$44,390
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gallatin County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Eldorado | $24,827 | $57,238 | $73,173 | $108,788 | $142,058 |
| Elizabethtown | $7,545 | $26,230 | $51,184 | $70,204 | $93,926 |
| Equality | N/A | N/A | N/A | N/A | N/A |
| Junction | $7,787 | $24,653 | $53,596 | $89,250 | $130,686 |
| New Haven | $4,168 | $9,017 | $28,064 | $59,610 | $86,714 |
| Norris City | $44,321 | $50,001 | $84,288 | $97,317 | $135,408 |
| Omaha | $7,275 | $21,243 | $44,190 | $85,365 | $130,077 |
| Ridgway | $11,637 | $28,671 | $54,588 | $85,929 | $131,325 |
| Shawneetown | $5,934 | $16,017 | $39,798 | $70,791 | $111,594 |
Source: Ownwell
Property Tax Bills Across Gallatin County, Illinois
In Gallatin County, IL, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Various factors, such as property type, location, and improvements, are considered during the assessment process. Homeowners in Gallatin County face a diverse range of tax bills. For instance, the median home price is $44,390, leading to tax bills that vary significantly. The 25th percentile tax bill is $132, while the 75th percentile tax bill reaches $1,353, and the 90th percentile tax bill can be as high as $2,469. Eldorado boasts the highest median tax bill at $1,309, whereas New Haven has the lowest at $209. These tax bills can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Gallatin County Tax Bill
$496
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Gallatin County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Eldorado | $448 | $650 | $1,309 | $2,032 | $2,327 |
| Elizabethtown | $105 | $318 | $654 | $1,182 | $1,772 |
| Equality | N/A | N/A | N/A | N/A | N/A |
| Junction | $50 | $143 | $608 | $1,402 | $2,529 |
| New Haven | $25 | $87 | $209 | $830 | $1,516 |
| Norris City | $185 | $540 | $936 | $1,881 | $2,503 |
| Omaha | $49 | $113 | $466 | $1,264 | $2,512 |
| Ridgway | $57 | $199 | $659 | $1,761 | $2,823 |
| Shawneetown | $36 | $120 | $429 | $1,336 | $2,504 |
Source: Ownwell