Chandlerville, Illinois Property Taxes
The median property tax rate in Chandlerville, IL is 2.83%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $47,322 in Chandlerville, the typical annual property tax bill reaches $1,262, surpassing the national median of $2,690. Property taxes in Chandlerville 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 Chandlerville’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Chandlerville or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chandlerville, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Chandlerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chandlerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chandlerville 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 Chandlerville, Illinois
Property taxes in Chandlerville, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chandlerville is 2.83%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Chandlerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chandlerville 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 Chandlerville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62627 zip code has the highest median property tax rate of 2.83%, while the same 62627 zip code also has the lowest median tax rate of 2.83%. Understanding how these cities compare with Chandlerville provides valuable insights into the varying tax landscape across Mason County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chandlerville Tax Rate
2.83%
Average Mason County Tax Rate
2.98%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chandlerville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62627 | 2.32% | 2.57% | 2.83% | 3.13% | 3.29% |
Source: Ownwell
Property Tax Assessment Values Across Chandlerville, Illinois
In Chandlerville, 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 Mason 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 Chandlerville, 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 Chandlerville 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 $1,262, found in the 62627 zip code, while the lowest median tax bill is also $1,262 in the same zip code.
Average Chandlerville Assessed Value
$47,322
Average Mason County Assessed Value
$73,888
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chandlerville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62627 | $5,641 | $19,584 | $47,322 | $121,308 | $173,860 |
Source: Ownwell
Property Tax Bills Across Chandlerville, Illinois
In Chandlerville, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is a percentage of the property's market value. For homeowners in Chandlerville, Mason County, the property tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and condition. Local government budgets and funding requirements for public services like schools and infrastructure also play a significant role. The median home price in Chandlerville is $47,322, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $584, while the 75th percentile reaches $3,232, and the 90th percentile climbs to $4,443. Compared to the national median property tax rate of 0.99%, homeowners in Chandlerville may find their tax bills to be relatively moderate or steep, depending on their property's assessed value and the specific tax rate applied. Understanding these factors helps homeowners anticipate their annual property tax obligations.
Average Chandlerville Tax Bill
$1,262
Average Mason County Tax Bill
$2,133
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Chandlerville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62627 | $188 | $584 | $1,262 | $3,232 | $4,443 |
Source: Ownwell