Average Tax Assessment in Jersey County
Real Estate Values and Property Tax Valuation in Jersey County, Illinois
Jersey County has 1,187 properties with a cumulative value of $161.8M, representing 0.02% of all real estate value in Illinois. Property taxes in Jersey County totaled $3.4M, with an average homeowner paying $2,979 in property taxes compared to the state average of $5,405. The average property tax rate in Jersey County is 2.11%, lower than the state average of 2.47%. Properties are typically valued for tax purposes based on their estimated 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 | |
|---|---|
| Jersey Assessor | (618) 498-5571 126 |
| 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 Jersey County
Residential Property Taxes by Cities in Jersey County
Jersey County has an average property tax rate of 2.11%, which is slightly lower than the state average of 2.13%. This rate is applied to all properties in the county, regardless of location. However, the effective property tax rate can vary significantly between cities. For example, Jerseyville has the highest effective property tax rate in the county at 2.13%, while other cities may have lower rates. This means that property owners in Jerseyville may pay more in taxes than those in other cities.
Overall, Jersey County has a relatively low property tax rate compared to other counties in the state. This makes it an attractive option for those looking to purchase property in the area. However, it is important to note that the effective property tax rate can vary significantly between cities, so it is important to research the rates in each city before making a purchase.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Jersey 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 |
|---|---|---|---|---|---|
| Jerseyville | $35,702 | $60,709 | $122,842 | $206,764 | $266,852 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Jersey County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Jerseyville | $573 | $1,328 | $2,545 | $4,513 | $5,985 |
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 |
|---|---|---|---|---|---|
| Jerseyville | 1.60% | 2.19% | 2.07% | 2.18% | 2.24% |
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Real Estate Values in Jersey County
The home prices in Jersey County, Illinois have seen a significant increase of 40.82% from October 2022 to October 2023. The median home price in October 2023 was $172.5K, compared to $122.5K in October 2022. The home inventory in Jersey County has also increased slightly, from 39 in October 2022 to 41 in October 2023. This indicates that the demand for homes in Jersey County is increasing, leading to an increase in home prices.
Average Home Value in Jersey County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Jersey County
Last updated: November 2023
Percent Change in New Home Listings in Jersey County
Last updated: November 2023
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Mortgage Rates in Jersey County
Jersey County has a total of $14.4M in outstanding home mortgage loans. This represents 77 loans, with an average loan amount of $187,000. The median mortgage rate in Jerseyville, the city with the highest median mortgage rate, is 3.65%. This is slightly higher than the national average of 3.5%. However, the median mortgage rate in Jerseyville is still lower than the median mortgage rate in other counties in the area.
The percentage of total home value represented by these outstanding loans is relatively low, at approximately 8%. This indicates that homeowners in Jersey County are generally able to afford their mortgages, and are not overextending themselves. Furthermore, the variation in rates across counties indicates that homeowners in Jersey County have access to competitive rates, allowing them to find the best deal for their needs.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Jersey County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Jerseyville | $35,604 | $65,730 | $194,810 | $292,936 | $312,991 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Jersey County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Jerseyville | 2.97% | 3.21% | 3.65% | 4.25% | 4.52% |
Housing Expenses in Jersey County, Illinois
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