Wabash County Property Taxes
The median property tax rate in Wabash County is 1.99%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Wabash County at $80,445, the typical annual property tax bill reaches $1,448, which is below the national median of $2,690. Property taxes in Wabash County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Wabash County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Mount Carmel or another part of Wabash County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wabash County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.99%
Estimate Property Tax Bill
$1,601
$1,564
Ownwell’s Wabash County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wabash County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Wabash County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Wabash County, Illinois
Property taxes in Wabash County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Wabash County is 1.99%, which is higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Wabash County set these rates annually, and they can vary significantly between different areas within the county. Each year, Wabash County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Mount Carmel has one of the higher property tax rates in Illinois at 2.09%, while the city of Keensburg boasts one of the lowest at 1.48%. Analyzing how Wabash County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Wabash County Tax Rate
1.99%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wabash County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Allendale | 1.17% | 1.50% | 1.76% | 1.92% | 2.10% |
| Bellmont | 0.95% | 1.21% | 1.80% | 2.26% | 2.26% |
| Browns | 1.20% | 1.29% | 1.49% | 1.67% | 1.83% |
| Keensburg | 0.91% | 1.13% | 1.48% | 1.83% | 2.04% |
| Mount Carmel | 1.46% | 1.77% | 2.09% | 2.51% | 2.51% |
| Saint Francisville | 1.61% | 1.68% | 1.77% | 1.87% | 1.96% |
| West Salem | 0.58% | 1.20% | 1.63% | 1.93% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Wabash County, Illinois
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Wabash County, Illinois. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Wabash County Appraisal District. The assessed value, however, 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. Assessment notices in Wabash County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. In Wabash County, the median home price is $80,445, with tax bills ranging significantly. For instance, Allendale has the highest median tax bill at $2,042, while Keensburg has the lowest at $141. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Wabash County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Wabash County Assessed Value
$80,445
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wabash County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Allendale | $6,420 | $75,810 | $108,930 | $166,215 | $216,642 |
| Bellmont | $2,196 | $7,762 | $31,560 | $90,450 | $100,404 |
| Browns | $72,432 | $81,000 | $109,410 | $149,775 | $191,715 |
| Keensburg | $5,544 | $9,270 | $15,480 | $21,690 | $25,416 |
| Mount Carmel | $23,238 | $38,370 | $73,215 | $144,690 | $256,776 |
| Saint Francisville | $73,641 | $84,158 | $105,495 | $160,148 | $230,631 |
| West Salem | $38,952 | $74,490 | $104,100 | $190,170 | $276,258 |
Source: Ownwell
Property Tax Bills Across Wabash County, Illinois
In Wabash 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 typically represents a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Various factors such as property location, home improvements, and market conditions influence the assessed value. For homeowners, this means that property tax bills can vary significantly. For instance, the median home price in Wabash County is $80,445, and property tax bills range widely. The 25th percentile tax bill is around $900, while the 75th percentile reaches approximately $2,769. At the 90th percentile, tax bills can soar to $4,976. The highest median tax bill in the county is found in Allendale at $2,042, while Keensburg sees the lowest at $141. Compared to the national median property tax rate of 0.99%, Wabash County's rates can be relatively high, impacting homeowners' financial planning.
Average Wabash County Tax Bill
$1,448
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Wabash County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Allendale | $625 | $1,215 | $2,042 | $3,119 | $4,014 |
| Bellmont | $48 | $175 | $510 | $825 | $1,288 |
| Browns | $1,019 | $1,191 | $1,393 | $2,124 | $3,512 |
| Keensburg | $82 | $104 | $141 | $179 | $201 |
| Mount Carmel | $515 | $892 | $1,426 | $2,620 | $4,929 |
| Saint Francisville | $1,196 | $1,422 | $1,880 | $3,055 | $4,570 |
| West Salem | $109 | $840 | $1,454 | $3,560 | $5,475 |
Source: Ownwell