Piasa, Illinois Property Taxes
The median property tax rate in Piasa, IL is 1.84%, considerably higher than the national median of 0.99%, yet lower than the Illinois state median of 2.35%. With the median home value in Piasa at $77,721, the typical annual property tax bill reaches $1,519, which is below the national median of $2,690. Property taxes in Piasa are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Piasa'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 Piasa or another part of Macoupin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Piasa, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$1,430
$1,397
Ownwell’s PIASA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PIASA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PIASA 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 Piasa, Illinois
Property taxes in Piasa, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Piasa is 1.84%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Piasa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Piasa 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 Piasa's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62079 zip code has the highest median property tax rate of 1.84%, while the same zip code also has the lowest median tax rate of 1.84%. Understanding how these cities compare with Piasa provides valuable insights into the varying tax landscape across Macoupin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Piasa Tax Rate
1.84%
Average Macoupin County Tax Rate
1.93%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piasa, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62079 | 1.15% | 1.58% | 1.84% | 2.22% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Piasa, Illinois
In Piasa, 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 Macoupin 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 Piasa, 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 Piasa 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 $1,519 in the 62079 zip code.
Average Piasa Assessed Value
$77,721
Average Macoupin County Assessed Value
$80,204
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Piasa, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62079 | $26,076 | $53,504 | $77,721 | $112,376 | $161,205 |
Source: Ownwell
Property Tax Bills Across Piasa, Illinois
In Piasa, located in Macoupin County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is typically a percentage of the home's market value. For example, if the median home price in Piasa is $77,721, the assessed value would be a fraction of this amount. The tax rate, applied to the assessed value, ultimately determines the tax bill. Factors influencing the tax bill include the property's location, the local tax rate, and any applicable exemptions. In Piasa, property tax bills can vary significantly, with the 25th percentile at $738 and the 75th percentile at $1,915, reflecting the diversity in home values and tax rates within the area. The highest median tax bill recorded is $1,519 in the zip code 62079. These property tax bills impact homeowners by affecting their annual expenses, which can influence their overall financial planning and property affordability. Comparing these figures to the national median property tax rate of 0.99% provides perspective on how local rates stack up.
Average Piasa Tax Bill
$1,519
Average Macoupin County Tax Bill
$1,490
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Piasa, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62079 | $291 | $738 | $1,519 | $1,915 | $2,734 |
Source: Ownwell