Saint Libory, Illinois Property Taxes
The median property tax rate in Saint Libory, IL is 2.51%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Saint Libory, the typical annual property tax bill reaches $2,307, which, while below the national median of $2,690, reflects the high tax rate. Property taxes in Saint Libory 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 Saint Libory'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 Saint Libory 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
Saint Libory, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$2,486
$2,307
Ownwell’s Saint Libory Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Libory with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Libory 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 Saint Libory, Illinois
Property taxes in Saint Libory, Illinois, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Libory is 2.51%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Saint Libory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Libory 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 Saint Libory's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62282 zip code has the highest median property tax rate of 2.51%, while the same zip code also has the lowest median tax rate of 2.51%. Understanding how these cities compare with Saint Libory 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 Saint Libory Tax Rate
2.51%
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 Saint Libory, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62282 | 1.78% | 2.14% | 2.51% | 2.89% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Saint Libory, Illinois
In Saint Libory, 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 Saint Libory, 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. The median home price in Saint Libory is $99,063, with tax bills ranging from $1,398 at the 25th percentile to $4,606 at the 90th percentile. The zip code 62282 has the highest and lowest median tax bill at $2,307. 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 Saint Libory helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Saint Libory, Illinois
Source: Ownwell
$2,100
$2,560,473
$5,118,846
Average Saint Libory Assessed Value
$99,063
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 Saint Libory, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62282 | $15,531 | $68,948 | $99,063 | $130,954 | $174,207 |
Source: Ownwell
Property Tax Bills Across Saint Libory, Illinois
In Saint Libory, Illinois, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. Local tax authorities determine the assessed value, and then apply the applicable tax rate to this value. The median home price in Saint Libory is $99,063, and homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Several factors influence the property tax bill, including the property's location, the local tax rate, and any applicable exemptions. For instance, tax bills in the 25th percentile are around $1,398, while those in the 75th percentile can go up to $3,306. The highest median tax bill in the area is $2,307. These property taxes significantly impact homeowners by contributing to community services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Saint Libory homeowners experience a range of tax bills that reflect the local economic conditions and public service needs.
Average Saint Libory Tax Bill
$2,307
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 Saint Libory, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62282 | $343 | $1,398 | $2,307 | $3,306 | $4,606 |
Source: Ownwell