Scheller, Illinois Property Taxes
The median property tax rate in Scheller, IL is 2.25%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $172,407 in Scheller, the typical annual property tax bill reaches $4,115, surpassing the national median of $2,690. Property taxes in Scheller are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Scheller'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 Scheller or another part of Perry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Scheller, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.25%
Estimate Property Tax Bill
$3,879
$3,600
Ownwell’s Scheller Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scheller with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scheller 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 Scheller, Illinois
Property taxes in Scheller, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scheller is 2.25%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Scheller set these rates annually, and they can vary across different neighborhoods. Each year, Scheller 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 Scheller's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62883 zip code has both the highest and lowest median property tax rate of 2.25%. Understanding how these cities compare with Scheller provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Scheller Tax Rate
2.25%
Average Perry County Tax Rate
1.89%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scheller, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62883 | 1.82% | 2.15% | 2.25% | 2.26% | 2.36% |
Source: Ownwell
Property Tax Assessment Values Across Scheller, Illinois
In Scheller, 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 Perry County 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 Scheller, 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 Scheller helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 62883, with a value of $4,115, while the lowest is also 62883, with the same value of $4,115.
Average Scheller Assessed Value
$172,407
Average Perry County Assessed Value
$82,294
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Scheller, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62883 | $92,913 | $144,611 | $172,407 | $191,728 | $201,200 |
Source: Ownwell
Property Tax Bills Across Scheller, Illinois
In Scheller, located in Perry County, IL, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. Homeowners in this area face property tax bills that can vary significantly. The 25th percentile tax bill is around $2,547, while the 75th percentile reaches $4,371, and the 90th percentile goes up to $4,457. These figures are influenced by various factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners, these taxes can represent a significant portion of their annual expenses. Compared to the national median property tax rate of 0.99%, property taxes in Scheller can be particularly impactful. For instance, the highest median tax bill in the area is $4,115, which is notably higher than the national average. Understanding these factors can help homeowners better anticipate their financial responsibilities and plan accordingly.
Average Scheller Tax Bill
$4,115
Average Perry County Tax Bill
$1,554
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Scheller, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62883 | $1,164 | $2,547 | $4,115 | $4,371 | $4,457 |
Source: Ownwell