Crossville, Illinois Property Taxes
The median property tax rate in Crossville, Illinois is 1.67%, considerably higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With the median home value in Crossville, the typical annual property tax bill reaches $722, which is below the national median of $2,690. Property taxes in Crossville are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Crossville'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 Crossville 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
Crossville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$787
$730
Ownwell’s Crossville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crossville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crossville 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 Crossville, Illinois
Property taxes in Crossville, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crossville is 1.67%, significantly higher than the U.S. national median of 0.99%. Local government entities within Crossville set these rates annually, and they can vary across different neighborhoods. Each year, Crossville 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 Crossville's effective property tax rate to other areas and the national median. For comparison, the highest and lowest median property tax rate in the region is also 1.67%, found in the zip code 62827. Understanding how Crossville compares with other areas in White County provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crossville Tax Rate
1.67%
Average White County Tax Rate
1.88%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crossville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62827 | 0.87% | 1.29% | 1.67% | 2.00% | 2.41% |
Source: Ownwell
Property Tax Assessment Values Across Crossville, Illinois
In Crossville, 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 White 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 Crossville, 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 Crossville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Crossville is $722 in the 62827 zip code, which is also the lowest median tax bill. This underscores the importance of understanding local property tax assessments to potentially reduce your tax burden.
Average Crossville Assessed Value
$47,121
Average White County Assessed Value
$52,311
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crossville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62827 | $12,717 | $27,454 | $47,121 | $75,176 | $127,285 |
Source: Ownwell
Property Tax Bills Across Crossville, Illinois
In Crossville, located in White County, IL, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The assessed value is then multiplied by the local tax rate. This rate can vary depending on the specific needs and budgets of local government entities, such as schools and public services. Homeowners in Crossville can expect their property tax bills to fall within a range, reflecting the diversity in property values and tax rates. For instance, the 25th percentile tax bill is $366, while the 75th percentile tax bill reaches $1,292. At the higher end, the 90th percentile tax bill is $2,289. This variability means that the financial impact on homeowners can differ significantly. Compared to the national median property tax rate of 0.99%, Crossville's rates are influenced by local economic conditions and public service funding requirements. Understanding these factors can help homeowners anticipate their tax obligations and plan their finances accordingly.
Average Crossville Tax Bill
$722
Average White County Tax Bill
$910
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Crossville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62827 | $166 | $366 | $722 | $1,292 | $2,289 |
Source: Ownwell