Columbia, Illinois Property Taxes
The median property tax rate in Columbia, IL is 2.16%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Columbia, the typical annual property tax bill reaches $5,280, exceeding the national median of $2,690. Property taxes in Columbia 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 Columbia'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 Columbia 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
Columbia, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.16%
Estimate Property Tax Bill
$5,781
$5,365
Ownwell’s Columbia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbia 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 Columbia, Illinois
Property taxes in Columbia, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbia is 2.16%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Columbia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbia 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 Columbia's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62236 zip code has the highest median property tax rate of 2.16%, while the same zip code also has the lowest median tax rate of 2.16%. Understanding how these cities compare with Columbia 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 Columbia Tax Rate
2.16%
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 Columbia, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62236 | 1.83% | 2.02% | 2.16% | 2.32% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across Columbia, Illinois
In Columbia, 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 Assessor 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 Columbia, 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 Columbia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 62236 has both the highest and lowest median tax bill, which is $5280.
Average Columbia Assessed Value
$267,642
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 Columbia, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62236 | $79,241 | $164,175 | $267,642 | $360,975 | $470,194 |
Source: Ownwell
Property Tax Bills Across Columbia, Illinois
In Columbia, IL, located in St. Clair County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. For instance, the median home price in Columbia is $267,642. Various factors such as property size, location, and improvements contribute to this assessed value. Once the assessed value is established, local tax rates are applied to calculate the property tax bill. These rates are influenced by the funding needs of public services such as schools, infrastructure, and emergency services. In Columbia, the median property tax bill is $5,280, which is significantly higher than the national median property tax rate of 0.99%. Homeowners in Columbia can expect tax bills to range widely, with the 25th percentile at $3,209 and the 90th percentile reaching up to $10,335. This variability impacts homeowners differently, depending on their property's assessed value and the applicable tax rates.
Average Columbia Tax Bill
$5,280
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 Columbia, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62236 | $1,278 | $3,209 | $5,280 | $7,973 | $10,335 |
Source: Ownwell