Red Bud, Illinois Property Taxes
The median property tax rate in Red Bud, IL, is 2.47%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Red Bud at $201,561, the typical annual property tax bill reaches $3,257, exceeding the national median of $2,690. Property taxes in Red Bud 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 Red Bud'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 Red Bud 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
Red Bud, 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 Red Bud Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Red Bud with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Red Bud 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 Red Bud, Illinois
Property taxes in Red Bud, Illinois, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Red Bud is 2.47%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Red Bud set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Bud 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 Red Bud's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62278 zip code has the highest median property tax rate of 2.47%, while the 62278 zip code also has the lowest median tax rate of 2.47%. Understanding how these cities compare with Red Bud 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 Red Bud Tax Rate
2.47%
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 Red Bud, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62278 | 1.79% | 2.04% | 2.47% | 2.47% | 2.47% |
Source: Ownwell
Property Tax Assessment Values Across Red Bud, Illinois
In Red Bud, 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's Office 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 Red Bud, 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 Red Bud helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Red Bud is $201,561, with annual tax bills ranging from $2,297 to $8,891. The highest and lowest median tax bills both stand at $3,257 in zip code 62278.
Average Red Bud Assessed Value
$201,561
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 Red Bud, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62278 | $83,625 | $127,851 | $201,561 | $309,298 | $373,941 |
Source: Ownwell
Property Tax Bills Across Red Bud, Illinois
Property tax bills in Red Bud, St. Clair County, IL, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $201,561, homeowners can expect tax bills that vary significantly. The 25th percentile tax bill stands at $2,297, while the 75th percentile reaches $6,778, and the 90th percentile can go as high as $8,891. These figures illustrate the range of property tax burdens depending on property value and specific assessments. Compared to the national median property tax rate of 0.99%, Red Bud's tax rates can lead to substantial differences in annual costs for homeowners. The highest and lowest median tax bills in the area are notably identical at $3,257, indicating a consistent tax application across different properties. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Red Bud Tax Bill
$3,257
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 Red Bud, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62278 | $1,721 | $2,297 | $3,257 | $6,778 | $8,891 |
Source: Ownwell