Centreville, Illinois Property Taxes
The median property tax rate in Centreville, IL is an astonishing 6.52%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Centreville at $4,332, the typical annual property tax bill reaches $282, surpassing the national median of $2,690. Property taxes in Centreville 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 Centreville'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 Centreville 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
Centreville, 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 Centreville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Centreville using just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centreville to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-specific trends, further localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Centreville, Illinois
Property taxes in Centreville, Illinois, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Centreville is 6.52%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Centreville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centreville 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 Centreville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62203 zip code has the highest median property tax rate of 6.52%, while the same zip code also has the lowest median tax rate of 6.52%. Understanding how these cities compare with Centreville provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centreville Tax Rate
6.52%
Average St. Clair County Tax Rate
2.55%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centreville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62203 | 6.52% | 6.52% | 6.52% | 6.52% | 6.52% |
Source: Ownwell
Property Tax Assessment Values Across Centreville, Illinois
In Centreville, 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 St. Clair 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 Centreville, 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 Centreville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both found in the 62203 zip code, with a median tax bill of $282.
Property Tax Assessment Values Across Centreville, Illinois
Source: Ownwell
$2,100
$2,560,473
$5,118,846
Average Centreville Assessed Value
$4,332
Average St. Clair County Assessed Value
$110,946
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centreville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62203 | $4,332 | $4,332 | $4,332 | $4,332 | $4,332 |
Source: Ownwell
Property Tax Bills Across Centreville, Illinois
In Centreville, property tax bills are calculated based on the assessed value of a home, which is determined by the St. Clair County Assessor's Office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to calculate the tax bill. For Centreville, the median home price is notably low at $4,332, leading to tax bills that are also relatively minimal. For instance, the median tax bill stands at $282, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the assessed value, including property size, location, and condition. Additionally, local government budgets and school funding needs can impact the tax rate. For homeowners, this means that even slight changes in the assessed value or tax rate can affect their annual tax bill. Understanding these dynamics can help homeowners anticipate their financial obligations and plan accordingly.
Average Centreville Tax Bill
$282
Average St. Clair County Tax Bill
$2,735
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Centreville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62203 | $282 | $282 | $282 | $282 | $282 |
Source: Ownwell