Kirksville, Illinois Property Taxes
The median property tax rate in Kirksville, IL is 1.58%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Kirksville, the typical annual property tax bill reaches $883, which is significantly lower than the national median of $2,690. Property taxes in Kirksville 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 Kirksville'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 Kirksville 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
Kirksville, 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 Kirksville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kirksville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kirksville 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 Kirksville, Illinois
Property taxes in Kirksville, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kirksville is 1.58%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Kirksville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kirksville 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 Kirksville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61951 zip code has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Kirksville provides valuable insights into the varying tax landscape across Moultrie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kirksville Tax Rate
1.58%
Average Moultrie County Tax Rate
2.15%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kirksville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61951 | 1.05% | 1.42% | 1.58% | 2.22% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Kirksville, Illinois
In Kirksville, 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 Moultrie 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 Kirksville, 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. For example, the median home price in Kirksville is $54,264, with tax bills ranging from $598 at the 25th percentile to $1,299 at the 90th percentile. 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 Kirksville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kirksville Assessed Value
$54,264
Average Moultrie County Assessed Value
$97,648
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kirksville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61951 | $26,599 | $37,954 | $54,264 | $67,688 | $83,949 |
Source: Ownwell
Property Tax Bills Across Kirksville, Illinois
In Kirksville, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Kirksville, located in Moultrie County, can expect their property tax rates to be influenced by various factors, including the local government's budgetary needs and the specific tax rate set by the county. For example, the median home price in Kirksville is $54,264. The property tax bill can vary significantly, with the 25th percentile tax bill at $598 and the 75th percentile tax bill at $1,140. The highest median tax bill in the area is $883, which is notably lower than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding how these taxes are calculated can help homeowners better anticipate their annual financial obligations.
Average Kirksville Tax Bill
$883
Average Moultrie County Tax Bill
$2,121
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Kirksville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61951 | $411 | $598 | $883 | $1,140 | $1,299 |
Source: Ownwell