East Saint Louis, Illinois Property Taxes
The median property tax rate in East Saint Louis, IL is 1.76%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in East Saint Louis at $59,940, the typical annual property tax bill reaches $1,191, which is below the national median of $2,690. Property taxes in East Saint Louis 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 East Saint Louis'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 East Saint Louis or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
East Saint Louis, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.76%
Estimate Property Tax Bill
$1,055
$979
Ownwell’s East Saint Louis Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in East Saint Louis. By simply entering your property's estimated assessed value, our calculator uses the median tax rate in the area to provide an accurate property tax bill estimate. This valuable resource helps you understand your potential tax liabilities and plan accordingly. For those interested in more detailed insights, scroll down to explore localized trends at the neighborhood level. Remember, your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across East Saint Louis, Illinois
Property taxes in East Saint Louis, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Saint Louis is 1.76%, significantly higher than the U.S. national median of 0.99%. Local government entities within East Saint Louis set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Saint Louis 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 East Saint Louis's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62201 has the same median property tax rate of 1.76%. Understanding how these cities compare with East Saint Louis provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Saint Louis Tax Rate
1.76%
Average Madison County Tax Rate
2.17%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Saint Louis, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62201 | 1.07% | 1.48% | 1.76% | 2.28% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across East Saint Louis, Illinois
In East Saint Louis, 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 Madison County Assessor 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 East Saint Louis, 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 East Saint Louis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 62201 has the highest and lowest median tax bill at $1,191.
Property Tax Assessment Values Across East Saint Louis, Illinois
Source: Ownwell
$19,910
$221,434
$422,958
Average East Saint Louis Assessed Value
$59,940
Average Madison County Assessed Value
$128,259
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Saint Louis, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62201 | $44,915 | $53,588 | $59,940 | $74,587 | $94,619 |
Source: Ownwell
Property Tax Bills Across East Saint Louis, Illinois
In East Saint Louis, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the tax rate, set by local taxing authorities, is applied to calculate the tax bill. In Madison County, where East Saint Louis is located, the median home price is $59,940. Homeowners in this area can expect tax bills that vary widely, with the 25th percentile at $842 and the 75th percentile reaching $1,475. At the 90th percentile, tax bills can be as high as $1,928. The highest median tax bill in the area is $1,191, which is higher than the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding these factors can help homeowners better prepare for their annual property tax obligations.
Average East Saint Louis Tax Bill
$1,191
Average Madison County Tax Bill
$2,705
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across East Saint Louis, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62201 | $610 | $842 | $1,191 | $1,475 | $1,928 |
Source: Ownwell