Saint Francisville, Illinois Property Taxes
The median property tax rate in Saint Francisville, IL is 1.77%, 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 Francisville, the typical annual property tax bill reaches $1,880, which is below the national median of $2,690. Property taxes in Saint Francisville 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 Francisville'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 Francisville 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 Francisville, 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 Saint Francisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Francisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Francisville 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 Francisville, Illinois
Property taxes in Saint Francisville, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Francisville is 1.77%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Saint Francisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Francisville 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 Francisville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62460 ZIP code has the highest median property tax rate of 1.77%, while the same ZIP code also has the lowest median tax rate of 1.77%. Understanding how these cities compare with Saint Francisville provides valuable insights into the varying tax landscape across Wabash County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Francisville Tax Rate
1.77%
Average Wabash County Tax Rate
1.99%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Francisville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62460 | 1.61% | 1.68% | 1.77% | 1.87% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Saint Francisville, Illinois
In SAINT FRANCISVILLE, 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 local 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 FRANCISVILLE, 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 SAINT FRANCISVILLE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $105,495, with tax bills ranging from $1,422 at the 25th percentile to $4,570 at the 90th percentile. The zip code 62460 has the highest and lowest median tax bill of $1,880.
Property Tax Assessment Values Across Saint Francisville, Illinois
Source: Ownwell
$15,480
$62,445
$109,410
Average Saint Francisville Assessed Value
$105,495
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 Saint Francisville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62460 | $73,641 | $84,158 | $105,495 | $160,148 | $230,631 |
Source: Ownwell
Property Tax Bills Across Saint Francisville, Illinois
In Saint Francisville, located in Wabash County, IL, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Several factors influence this calculation, including the property's location, size, and any applicable exemptions or deductions. Homeowners in Saint Francisville can expect varying tax bills. For instance, those at the 25th percentile might pay around $1,422, while those at the 75th percentile could see bills as high as $3,055. At the 90th percentile, tax bills can reach up to $4,570. These figures are notably higher than the national median property tax rate of 0.99%, indicating a significant impact on homeowners' annual expenses. The highest and lowest median tax bills in the area both stand at $1,880, reflecting a uniformity within certain zip codes. Overall, property taxes in Saint Francisville are a crucial consideration for homeowners, influencing both affordability and long-term financial planning.
Average Saint Francisville Tax Bill
$1,880
Average Wabash County Tax Bill
$1,448
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Francisville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62460 | $1,196 | $1,422 | $1,880 | $3,055 | $4,570 |
Source: Ownwell