Saint Jacob, Madison County, Illinois Property Taxes

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

Median Saint Jacob, IL effective property tax rate: 2.18%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Saint Jacob, IL home value: $237,117
Median annual Saint Jacob, IL tax bill: $5,348, $2,948 higher than the national median property tax bill of $2,400.

How are property taxes in Madison calculated?

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

Last Updated March 1, 2025

Saint Jacob, Madison County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.18%

Estimate Property Tax Bill

$5,169

$4,797

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

Property Tax Rates Across Saint Jacob, Madison County, Illinois

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results 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. Below, you can compare Saint Jacob’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Saint Jacob, located in Madison County, has an effective property tax rate of 2.18%, which is significantly higher than the national median of 1.02%. This rate underscores the variation in property tax rates across the country and highlights the importance of understanding local tax policies. Navigating the complexities of property tax assessments can be challenging, but being informed about your local tax rate can lead to potential savings and a better understanding of your property’s financial obligations.

Property Tax Rates Across Saint Jacob, Madison County, Illinois

Source: Ownwell

1.66%

3.31%

4.95%

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 Saint Jacob Tax Rate

2.18%

Median Effective Madison County Tax Rate

2.17%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Saint Jacob, Madison County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62281	1.77%	2.07%	2.18%	2.32%	2.44%

Source: Ownwell

Property Tax Assessment Values Across Saint Jacob, Madison County, Illinois

When examining property taxes in Saint 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 Madison 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. Assessment notices: In Madison County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Saint Jacob. For example, the median home price in Saint Jacob is $237,117, with tax bills ranging significantly across the county. Zip code 62281 has the highest median home price at $237,117.

Property Tax Assessment Values Across Saint Jacob, Madison County, Illinois

Source: Ownwell

$19,910

$137,778

$255,646

Median Saint Jacob Market Value

$237,117

Median Madison County Market Value

$128,259

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Saint Jacob, Madison County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62281	$98,726	$169,490	$237,117	$334,234	$395,063

Source: Ownwell

Property Tax Bills Across Saint Jacob, Madison County, Illinois

In Saint Jacob, Madison County, IL, property tax bills are calculated based on the assessed value of a home, set at a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as location, property size, and local government budgets influence the rate. Homeowners in this area face a median tax bill of $5,348, notably higher than the national median of $2,400. With tax bills ranging from $3,387 at the 25th percentile to $8,578 at the 90th percentile, the financial impact on homeowners can be significant. Ownwell offers a valuable service to homeowners by providing expert property tax appeal and exemption services. By leveraging local market knowledge and tax expertise, Ownwell can help identify potential savings and reduce tax liabilities. This assistance can alleviate the financial burden on homeowners, ensuring they only pay their fair share and potentially saving them substantial amounts on their property tax bills.

Property Tax Bills Across Saint Jacob, Madison County, Illinois

Source: Ownwell

$614

$2,981

$5,348

Median Saint Jacob Tax Bill

$5,348

Median Madison County Tax Bill

$2,705

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Saint Jacob, Madison County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62281	$1,838	$3,387	$5,348	$7,191	$8,578

Source: Ownwell