Jacob, Jackson County, Illinois Property Taxes

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

Median Jacob, IL effective property tax rate: 2.04%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Jacob, IL home value: $58,964
Median annual Jacob, IL tax bill: $1,267, $1,133 lower than the national median property tax bill of $2,400.

How are property taxes in Jackson calculated?

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

Last Updated March 1, 2025

Jacob, Jackson County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.04%

Estimate Property Tax Bill

$1,203

$1,116

Ownwell’s Jacob Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Jacob with just two data points. By entering your property's estimated assessed value, our calculator applies Jacob’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 Jackson County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Jacob, Jackson County, Illinois

Local government entities set tax rates, which can vary widely within a state. This is because 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 Jacob, located in Jackson County, IL, the effective property tax rate is notably higher than the national median. The median property tax rate in Illinois is 2.04%, which is also the highest in the state, a stark contrast to the national median rate of 1.02%. This high rate reflects the county's budgetary needs and the total assessed value of properties. For property owners in Jacob, this means a significantly higher property tax bill compared to the national median of $2400. Residents should be aware of this when budgeting for annual expenses. Comparing Jacob’s rate to other cities in Illinois and the U.S. highlights the importance of understanding local tax obligations and seeking potential exemptions or appeals to manage these costs effectively.

Property Tax Rates Across Jacob, Jackson County, Illinois

Source: Ownwell

1.86%

2.72%

3.58%

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 Jacob Tax Rate

2.04%

Median Effective Jackson County Tax Rate

2.84%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Jacob, Jackson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62950	0.88%	1.62%	2.04%	2.69%	3.11%

Source: Ownwell

Property Tax Assessment Values Across Jacob, Jackson County, Illinois

When examining property taxes in JACOB, 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 Jackson 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 Jackson 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 JACOB. For example, the median home price in JACOB is $58,964, with tax bills ranging significantly across the county. 62950 has the highest median home price at $58,964.

Property Tax Assessment Values Across Jacob, Jackson County, Illinois

Source: Ownwell

$29,472

$87,741

$146,010

Median Jacob Market Value

$58,964

Median Jackson County Market Value

$84,759

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Jacob, Jackson County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62950	$22,697	$38,148	$58,964	$94,278	$131,803

Source: Ownwell

Property Tax Bills Across Jacob, Jackson County, Illinois

In Jacob, located in Jackson County, Illinois, property tax bills are calculated based on the assessed value of a home, which is a fraction of the property's market value. Homeowners in Jacob face a median property tax bill of $1,267, which is lower than the national median of $2,400. Tax bills can vary significantly, ranging from $700 at the 25th percentile to $3,740 at the 90th percentile. Factors influencing these calculations include the property's assessed value and local tax rates. For homeowners, these taxes can represent a substantial financial burden, especially when compared to the national median property tax rate of 1.02%. Ownwell offers a solution by providing property tax appeal and exemption services, helping homeowners potentially reduce their tax bills. By analyzing assessments and identifying discrepancies, Ownwell can assist homeowners in Jacob to ensure they are not overpaying. This service can lead to significant savings, easing the financial strain on homeowners in the area.

Property Tax Bills Across Jacob, Jackson County, Illinois

Source: Ownwell

$518

$2,411

$4,303

Median Jacob Tax Bill

$1,267

Median Jackson County Tax Bill

$2,391

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Jacob, Jackson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62950	$221	$700	$1,267	$2,417	$3,740

Source: Ownwell