Belknap, Massac County, Illinois Property Taxes

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

Median Belknap, IL effective property tax rate: 2.53%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Belknap, IL home value: $75,668
Median annual Belknap, IL tax bill: $2,589, $189 higher than the national median property tax bill of $2,400.

How are property taxes in Massac calculated?

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

Last Updated March 1, 2025

Belknap, Massac County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.53%

Estimate Property Tax Bill

$1,914

$1,777

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

Property Tax Rates Across Belknap, Massac County, Illinois

Local government entities in Illinois, including those in Belknap located in Massac County, are responsible for setting property tax rates, which can vary significantly across the state. Each year, counties determine their budgetary needs to fund essential services and divide this by the total assessed value of all taxable properties within their jurisdiction, resulting in the property tax rate. This process, while influenced by votes and legislation, is fundamental to how property taxes are determined annually.

In Belknap, the effective property tax rate stands at 2.53%, which is notably higher than both the Illinois state median and the national median property tax rate of 1.02%. This places Belknap on the higher end of the spectrum within the state, reflecting the diverse range of tax rates found across different regions. When compared to the national median property tax bill of $2,400, property owners in Belknap may find themselves paying significantly more, illustrating the impact of local tax rate variations on homeowners.

Property Tax Rates Across Belknap, Massac County, Illinois

Source: Ownwell

2.07%

2.55%

3.03%

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 Belknap Tax Rate

2.53%

Median Effective Massac County Tax Rate

2.51%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Belknap, Massac County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62908	1.96%	2.22%	2.53%	3.53%	5.56%

Source: Ownwell

Property Tax Assessment Values Across Belknap, Massac County, Illinois

When examining property taxes in Belknap, Illinois, 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 Massac 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.

In Massac County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Belknap.

For example, the median home price in Belknap is $75,668, with tax bills ranging significantly across the county. Zip code 62908 has the highest median home price at $75,668.

Property Tax Assessment Values Across Belknap, Massac County, Illinois

Source: Ownwell

$4,650

$55,716

$106,781

Median Belknap Market Value

$75,668

Median Massac County Market Value

$60,801

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Belknap, Massac County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62908	$28,233	$43,166	$75,668	$126,335	$158,308

Source: Ownwell

Property Tax Bills Across Belknap, Massac County, Illinois

In Belknap, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the tax bill. Homeowners in Belknap face a median property tax bill that aligns closely with the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $1,221 and the 90th percentile reaching $5,257. These variations depend on factors such as property location within the county and any applicable exemptions or assessments. For homeowners looking to reduce their property tax burden, Ownwell offers expert services in property tax appeals and exemptions. By leveraging local market data and skilled negotiation, Ownwell can potentially lower your tax bill, ensuring you're not overpaying. With their assistance, homeowners can navigate the complexities of property taxes and secure savings, providing significant financial relief.

Property Tax Bills Across Belknap, Massac County, Illinois

Source: Ownwell

$150

$1,370

$2,589

Median Belknap Tax Bill

$2,589

Median Massac County Tax Bill

$1,443

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Belknap, Massac County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62908	$817	$1,221	$2,589	$3,505	$5,257

Source: Ownwell