Colp, Williamson County, Illinois Property Taxes

Name: Property Tax Bills Across Colp, Williamson County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median COLP, IL effective property tax rate: 2.28%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median COLP, IL home value: $23,550
Median annual COLP, IL tax bill: $345, $2,055 lower than the national median property tax bill of $2,400.

How are property taxes in Williamson County calculated?

Property taxes in COLP, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding COLP’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in COLP, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Colp, Williamson County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.28%

Estimate Property Tax Bill

$537

$498

Ownwell’s COLP Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in COLP with just two data points. By entering your property's estimated assessed value, our calculator applies COLP’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Williamson County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Colp, Williamson County, Illinois

Local government entities determine tax rates, which can vary significantly within a state. This variation arises because each county annually estimates its budgetary needs to provide essential services and divides this by the total value of all taxable properties within its jurisdiction, resulting in the property tax rate. Although setting tax rates and budgets involves votes and legal frameworks, this is the core of the annual process.

In the city of Colp, located in Williamson County, property owners face an effective property tax rate of 2.28%. This rate is notably higher than the national median property tax rate of 1.02%, reflecting the distinct financial landscape of the region. Compared to other cities within Illinois, Colp's rate stands out, as it is both the highest and lowest median tax rate in the area.

Understanding these differences is crucial for property owners looking to manage their expenses effectively. By being informed about the property tax landscape, individuals can make better decisions regarding property investments and potential tax appeals.

Property Tax Rates Across Colp, Williamson County, Illinois

Source: Ownwell

1.88%

2.24%

2.59%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Colp Tax Rate

2.28%

Median Effective Williamson County Tax Rate

2.30%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Colp, Williamson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62921	0.73%	1.41%	2.28%	2.34%	2.34%

Source: Ownwell

Property Tax Assessment Values Across Colp, Williamson County, Illinois

When examining property taxes in Colp, Illinois, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Williamson County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Williamson County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Colp. For example, the median home price in Colp is $23,550, with tax bills ranging significantly across the county. Zip code 62921 has the highest median home price at $23,550.

Property Tax Assessment Values Across Colp, Williamson County, Illinois

Source: Ownwell

$23,550

$71,490

$119,430

Median Colp Market Value

$23,550

Median Williamson County Market Value

$85,800

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Colp, Williamson County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62921	$3,102	$6,570	$23,550	$46,800	$75,348

Source: Ownwell

Property Tax Bills Across Colp, Williamson County, Illinois

In COLP, located in Williamson County, IL, property tax bills are calculated based on the assessed value of a home, 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. Factors such as local levies for schools, infrastructure, and public services can influence the rate. Homeowners in COLP face a median tax bill significantly lower than the national median of $2,400, with bills ranging from $115 at the 25th percentile to $1,476 at the 90th percentile. This disparity highlights the impact of assessment practices and local tax rates on property owners. To assist homeowners in reducing their tax burden, Ownwell offers expert property tax appeal and exemption services. By analyzing property assessments and identifying potential discrepancies, Ownwell helps homeowners achieve fair valuations, potentially lowering their tax bills. This service ensures that residents in COLP only pay what is necessary, providing financial relief and peace of mind.

Property Tax Bills Across Colp, Williamson County, Illinois

Source: Ownwell

$345

$1,478

$2,611

Median Colp Tax Bill

$345

Median Williamson County Tax Bill

$1,802

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Colp, Williamson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62921	$56	$115	$345	$812	$1,476

Source: Ownwell