Percy, Randolph County, Illinois Property Taxes
Median Percy, IL effective property tax rate: 2.48%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Percy, IL home value: $22,988
Median annual Percy, IL tax bill: $571, $1,829 lower than the national median property tax bill of $2,400.
How are property taxes in Randolph calculated?
Property taxes in Percy, 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 Percy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Percy, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Percy, Randolph County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.48%
Estimate Property Tax Bill
$570
$529
Property Tax Rates Across Percy, Randolph County, Illinois
Local government entities are responsible for setting tax rates, which can differ significantly within a state. Each year, counties estimate their necessary budget to provide public services and divide this amount by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in determining tax rates and budgets, this is the basic annual process.
In Percy, located in Randolph County, IL, the effective property tax rate stands at 2.48%. This rate is notably higher than the national median property tax rate of 1.02%. The property tax rate in Percy is consistent across the area, as the highest and lowest median tax rates are both 2.48%. When compared to other cities in Illinois, Percy's rate reflects the state's tendency to have higher property tax rates than the national average. Understanding these rates is crucial for property owners seeking to manage their tax liabilities effectively.
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 Percy Tax Rate
2.48%
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 Randolph County Tax Rate
2.00%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Percy, Randolph County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62272 | 2.15% | 2.48% | 2.48% | 2.48% | 2.48% |
Source: Ownwell
Property Tax Assessment Values Across Percy, Randolph County, Illinois
When examining property taxes in Percy, IL, 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 Randolph 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.
Assessment notices: In Randolph County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Percy.
For example, the median home price in Percy is $22,988, with tax bills ranging significantly across the county. Zip code 62272 has the highest median home price at $22,988.
Property Tax Assessment Values Across Percy, Randolph County, Illinois
Source: Ownwell
$18,795
$63,810
$108,825
Median Percy Market Value
$22,988
Median Randolph County Market Value
$47,528
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Percy, Randolph County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62272 | $9,920 | $12,015 | $22,988 | $45,656 | $97,010 |
Source: Ownwell
Property Tax Bills Across Percy, Randolph County, Illinois
Median Percy Tax Bill
$571
Median Randolph County Tax Bill
$1,100
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Percy, Randolph County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62272 | $214 | $280 | $571 | $1,134 | $2,067 |
Source: Ownwell