East Carondelet, Illinois Property Taxes
The median property tax rate in East Carondelet, IL is 1.84%, 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 Carondelet at $175,845, the typical annual property tax bill reaches $3,233, exceeding the national median of $2,690. Property taxes in East Carondelet 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 Carondelet'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 Carondelet or another part of Monroe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
East Carondelet, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$3,236
$3,162
Ownwell’s EAST CARONDELET Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EAST CARONDELET with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EAST CARONDELET 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 East Carondelet, Illinois
Property taxes in East Carondelet, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Carondelet is 1.84%, significantly higher than the U.S. national median of 0.99%. Local government entities within East Carondelet set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Carondelet 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 Carondelet's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62240 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 East Carondelet provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Carondelet Tax Rate
1.84%
Average Monroe County Tax Rate
1.91%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Carondelet, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62240 | 1.79% | 1.81% | 1.84% | 1.88% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across East Carondelet, Illinois
In East Carondelet, 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 Monroe County Assessment Office 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 Carondelet, 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 Carondelet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 62240 has the highest median tax bill of $3,233, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across East Carondelet, Illinois
Source: Ownwell
$54,540
$147,450
$240,360
Average East Carondelet Assessed Value
$175,845
Average Monroe County Assessed Value
$218,520
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Carondelet, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62240 | $165,729 | $169,522 | $175,845 | $182,168 | $185,961 |
Source: Ownwell
Property Tax Bills Across East Carondelet, Illinois
Property tax bills in East Carondelet, located in Monroe County, Illinois, are calculated based on the assessed value of a property. The assessed value is typically a percentage of the property's market value, and local tax rates are applied to this assessed value to determine the tax bill. In East Carondelet, homeowners can expect their annual property tax bills to vary, with the 25th percentile at $3,178 and the 75th percentile at $3,289. The highest median tax bill in the area is $3,233, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, size, and improvements. These taxes fund essential public services such as schools, infrastructure, and emergency services. For homeowners, understanding these factors is crucial for financial planning and can significantly impact their annual budget. The relatively high property tax rates in East Carondelet reflect the community's investment in maintaining and improving local services and amenities.
Average East Carondelet Tax Bill
$3,233
Average Monroe County Tax Bill
$3,972
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across East Carondelet, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62240 | $3,145 | $3,178 | $3,233 | $3,289 | $3,322 |
Source: Ownwell