Saint Francisville, Illinois Property Taxes
The median property tax rate in Saint Francisville, IL is 2.55%, significantly higher than both the national median of 0.99% and Illinois' state median of 2.35%. With the median home value in Saint Francisville, the typical annual property tax bill reaches $682, which, although lower than the national median of $2,690, is still a substantial amount relative to local home values. Property taxes in Saint Francisville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Saint Francisville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Saint Francisville or another part of Lawrence County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saint Francisville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.55%
Estimate Property Tax Bill
$616
$572
Ownwell’s Saint Francisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Francisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Francisville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Saint Francisville, Illinois
Property taxes in Saint Francisville, Illinois, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Francisville is 2.55%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Saint Francisville set these rates annually, and they can vary across different neighborhoods. Each year, Saint Francisville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Saint Francisville's effective property tax rate to other areas in Illinois and the national median. For comparison, the 62460 zip code has the highest median property tax rate of 2.55%, while the same zip code also has the lowest median tax rate of 2.55%. Understanding how these cities compare with Saint Francisville provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Francisville Tax Rate
2.55%
Average Lawrence County Tax Rate
3.07%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Francisville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62460 | 1.79% | 2.54% | 2.55% | 5.78% | 7.68% |
Source: Ownwell
Property Tax Assessment Values Across Saint Francisville, Illinois
In Saint Francisville, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Lawrence County Appraisal District for tax purposes. In contrast, the assessed value 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. In Saint Francisville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Saint Francisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $682 in the 62460 zip code, while the lowest median tax bill is also $682 in the same zip code.
Property Tax Assessment Values Across Saint Francisville, Illinois
Source: Ownwell
$7,542
$54,576
$101,610
Average Saint Francisville Assessed Value
$24,171
Average Lawrence County Assessed Value
$22,875
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Francisville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62460 | $3,638 | $7,095 | $24,171 | $53,040 | $99,935 |
Source: Ownwell
Property Tax Bills Across Saint Francisville, Illinois
Property tax bills in Saint Francisville, located in Lawrence County, IL, are calculated based on the assessed value of a property, which is a percentage of its market value. In this region, the median home price is $24,171. The local property tax rate is applied to the assessed value to determine the annual tax bill. Various factors such as property location, size, and improvements can influence the assessed value. Homeowners in Saint Francisville can expect tax bills ranging widely due to these factors. The 25th percentile tax bill is $234, while the 75th percentile tax bill reaches $1,936, and the 90th percentile tax bill can go up to $3,785. Comparatively, the highest and lowest median tax bills in the area are both $682, specifically in the 62460 zip code. Understanding these calculations helps homeowners budget for their annual expenses. The property tax rate in Saint Francisville is lower than the national median of 0.99%, providing some financial relief to homeowners in this area.
Average Saint Francisville Tax Bill
$682
Average Lawrence County Tax Bill
$743
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Francisville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62460 | $96 | $234 | $682 | $1,936 | $3,785 |
Source: Ownwell