Athens, Illinois Property Taxes
The median property tax rate in Athens, IL is 1.85%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Athens, the typical annual property tax bill reaches $2,457, slightly below the national median of $2,690. Property taxes in Athens 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 Athens'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 Athens 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
Athens, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$2,508
$2,328
Ownwell’s Athens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Athens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Athens 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 Athens, Illinois
Property taxes in Athens, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Athens is 1.85%, significantly higher than the U.S. national median of 0.99%. Local government entities within Athens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Athens 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 Athens's effective property tax rate to other areas in Illinois and the national median. For comparison, the 62613 zip code has both the highest and lowest median property tax rate of 1.85%. Understanding how these areas compare with Athens provides valuable insights into the varying tax landscape across Sangamon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Athens Tax Rate
1.85%
Average Sangamon County Tax Rate
2.31%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Athens, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62613 | 1.37% | 1.63% | 1.85% | 2.04% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Athens, Illinois
In Athens, 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 Sangamon 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 Athens, 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 Athens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Athens are both $2,457, found in the zip code 62613.
Average Athens Assessed Value
$135,578
Average Sangamon County Assessed Value
$144,820
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Athens, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62613 | $63,979 | $91,796 | $135,578 | $206,971 | $313,421 |
Source: Ownwell
Property Tax Bills Across Athens, Illinois
In Athens, located in Sangamon County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value of the property. For example, with a median home price of $135,578, homeowners can expect varying tax bills depending on their property's assessed value and the local tax rate. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions. In Athens, the tax bill at the 25th percentile is approximately $1,465, while those at the 75th and 90th percentiles are around $4,219 and $6,716, respectively. The highest and lowest median tax bills in the area are both $2,457, indicating a relatively consistent tax burden within the zip code 62613. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual expenses. Comparing the local tax rate to the national median property tax rate of 0.99% can also provide context for evaluating one's tax burden.
Average Athens Tax Bill
$2,457
Average Sangamon County Tax Bill
$3,283
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Athens, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62613 | $1,045 | $1,465 | $2,457 | $4,219 | $6,716 |
Source: Ownwell