Average Tax Assessment in Fayette County
Real Estate Values and Property Tax Valuation in Fayette County, Illinois
Fayette County has a total of 3,283 properties with a cumulative value of $276.3M, representing 0.04% of all real estate value in Illinois. Property taxes in Fayette County amount to $5.3M, with an average homeowner paying $1,646 in property taxes compared to the state average of $5,405. The average property tax rate in Fayette County is 1.92%, lower than the state average of 2.47%. Property taxes are calculated based on the assessed value of the property, which is typically lower than the market value.
In Illinois, property taxes are based on the value of the property as of January 1st. Property owners have the option to appeal their property taxes between June and December, or within 30 days of when the notices are published. Property tax bills are issued on February 1st and July 1st, with the first installment due on June 1st in Cook County. This first installment is estimated at 55% of the prior year's tax bill, with taxes paid in arrears.
Updated November 01, 2023
| Important Links | |
|---|---|
| Fayette Clerk | (979) 968-3251 |
| TexasFile Clerk Records | - |
| Fayette Assessor | (724) 430-1350 |
| Fayette Assessor | (304) 574-4240 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Tax Appeal Deadline: | June - December or 30 days after notices are published |
| Property Tax Bills Issued: | February 1st and July 1st |
| Real Property Tax Bill Due (1st of #): | June, Two installments but due dates may vary by county March 1st, Cook County - 1st half installment, estimated at 55% of prior year tax bill with taxes paid in arrears. |
| Real Property Tax Bill Due (2nd of #): | September, Two installments but due dates may vary by county August 1, Cook County - 2nd half installment - TARGETED but may be delayed - due 30 days after being issued. Reconciled installment using the BOR certified AV, actual local tax rate, and final state equalization factor, less the estimated 1st installment with taxes paid in arrears |
| Available Exemptions | |
|---|---|
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Fayette County
Residential Property Taxes by Cities in Fayette County
Fayette County has an average property tax rate of 1.92%, which is slightly lower than the national average of 1.98%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Fayette County are collected by the county and distributed to the cities and townships within the county. The effective property tax rate in Fayette County varies across the cities, with Vandalia having the highest rate of 2.03% and Ramsey having the lowest rate of 1.75%. This means that property owners in Vandalia will pay more in taxes than those in Ramsey. Property taxes in Fayette County are used to fund local services such as schools, police and fire departments, and public works. The county also uses the revenue to fund infrastructure projects and other services that benefit the entire county.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Fayette County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beecher City | $18,717 | $36,062 | $75,213 | $117,423 | $154,772 |
| Brownstown | $12,500 | $30,194 | $71,304 | $123,084 | $171,299 |
| Ramsey | $13,215 | $30,482 | $70,390 | $119,476 | $158,624 |
| Vandalia | $10,315 | $27,585 | $61,887 | $115,908 | $171,448 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Fayette County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beecher City | $280 | $604 | $1,222 | $2,174 | $3,026 |
| Brownstown | $209 | $520 | $1,250 | $2,393 | $3,696 |
| Ramsey | $215 | $454 | $1,105 | $2,144 | $3,175 |
| Vandalia | $189 | $539 | $1,283 | $2,325 | $3,622 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beecher City | 1.50% | 1.67% | 1.62% | 1.85% | 1.96% |
| Brownstown | 1.67% | 1.72% | 1.75% | 1.94% | 2.16% |
| Ramsey | 1.63% | 1.49% | 1.57% | 1.79% | 2.00% |
| Vandalia | 1.83% | 1.95% | 2.07% | 2.01% | 2.11% |
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Real Estate Values in Fayette County
The median home price in Fayette County, Illinois has remained steady from October 2022 to October 2023, with the median home price in October 2022 being $155.0K. The home inventory in Fayette County has decreased slightly from 43 in October 2022 to 42 in October 2023. This indicates that the housing market in Fayette County is stable and that there is a healthy balance between buyers and sellers.
Average Home Value in Fayette County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Fayette County
Last updated: November 2023
Percent Change in New Home Listings in Fayette County
Last updated: November 2023
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Mortgage Rates in Fayette County
Fayette County has a total of $6.8 million in outstanding home mortgage loans. This represents 37 loans, which is a relatively small number compared to other counties in the area. The median mortgage rate in Fayette County varies significantly from city to city, with Vandalia having the highest rate at 3.6%, and Beecher City having the lowest rate at 2.7%. This variation in rates can have a significant impact on the total amount of money that a homeowner will pay over the life of their loan.
Overall, the total amount of outstanding home mortgage loans in Fayette County is relatively low compared to the total value of homes in the county. This suggests that homeowners in the area are taking advantage of the lower interest rates available and are able to pay off their loans more quickly. Additionally, the variation in rates across cities in Fayette County provides homeowners with the opportunity to shop around and find the best rate for their particular situation.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Fayette County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beecher City | $76,227 | $103,001 | $147,625 | $192,248 | $219,022 |
| Brownstown | $208,051 | $216,550 | $230,716 | $285,023 | $317,607 |
| Ramsey | $49,729 | $71,998 | $121,034 | $153,765 | $188,729 |
| Vandalia | $124,884 | $125,064 | $170,774 | $210,068 | $671,766 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Fayette County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beecher City | 2.44% | 2.54% | 2.70% | 2.75% | 2.78% |
| Brownstown | 2.94% | 3.15% | 3.50% | 3.98% | 4.26% |
| Ramsey | 2.46% | 3.00% | 3.20% | 3.60% | 3.75% |
| Vandalia | 2.86% | 3.10% | 3.60% | 3.87% | 4.11% |
Housing Expenses in Fayette County, Illinois
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