Average Tax Assessment in Randolph County
Real Estate Values and Property Tax Valuation in Randolph County, Illinois
Randolph County has 299 properties with a cumulative value of $16.0M, representing 0.002% of all real estate value in Illinois. Property taxes in Randolph County totaled $356.3K, with an average property tax rate of 2.22%, lower than the state average of 2.47%. The average Randolph County homeowner pays $1,192 in property taxes, significantly lower than the state average of $5,405. Property taxes are 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 | |
|---|---|
| Randolph Register of Deeds | (336) 318-6960 |
| Randolph Assessor | (304) 636-2114 |
| Randolph Assessor | (870) 892-3200 |
| Randolph Assessor | (765) 584-2427 |
| 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 Randolph County
Residential Property Taxes by Cities in Randolph County
Randolph County has an average property tax rate of 2.22%, which is lower than the national average of 1.07%. This rate is also lower than the average property tax rate of other counties in the state of North Carolina. Property taxes in Randolph County are collected on a county-wide basis, meaning that all cities within the county are subject to the same rate. However, the effective property tax rate can vary significantly from city to city due to differences in the assessed value of properties. For example, some cities may have higher assessed values, resulting in a higher effective property tax rate. On the other hand, some cities may have lower assessed values, resulting in a lower effective property tax rate.
Overall, Randolph County has a relatively low property tax rate compared to other counties in the state. This rate is also lower than the national average, making 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 from city to city, so it is important to research the assessed value of properties 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 Randolph 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.
We currently do not have this data but we are working to add this soon.
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Randolph County.
We currently do not have this data but we are working to add this soon.
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.
We currently do not have this data but we are working to add this soon.
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Real Estate Values in Randolph County
The data from Redfin shows that the median home price in Randolph County, Illinois has increased by 32.69% from October 2022 to October 2023. This indicates that the housing market in Randolph County is becoming more expensive. Additionally, the home inventory in Randolph County has decreased from 57 in October 2022 to 55 in October 2023, suggesting that there is a shortage of homes available for sale in the area.
Average Home Value in Randolph County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Randolph County
Last updated: November 2023
Percent Change in New Home Listings in Randolph County
Last updated: November 2023
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Mortgage Rates in Randolph County
Randolph County has a total of $3.5 million in outstanding home mortgage loans. This represents 34 loans, or approximately 0.2% of the total home value in the county. The median mortgage rate in Randolph County varies significantly across cities, with the highest median rate being in the city of Randolph and the lowest median rate being in the city of Asheboro. This variation in rates can be attributed to the differences in local economic conditions and the availability of lenders in each city.
Overall, the mortgage market in Randolph County is relatively stable, with a low total outstanding loan amount and a wide range of rates across cities. This provides potential homebuyers with a variety of options when it comes to financing their home purchase. Additionally, the low total outstanding loan amount indicates that the county is not overly reliant on mortgage debt, which is beneficial for the overall health of the local economy.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Randolph County by city.
We currently do not have this data but we are working to add this soon.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Randolph County.
We currently do not have this data but we are working to add this soon.
Housing Expenses in Randolph County, Illinois
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