Average Tax Assessment in Saline County

Saline County has a total of 1,471 properties with a cumulative value of $123.2M, representing 0.02% of all real estate value in Illinois. Property taxes in Saline County totaled $3.1M, with an average homeowner paying $2,153 in property taxes compared to the state average of $5,405. The average property tax rate in Saline County is 2.53%, slightly higher 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.

Saline County has an average property tax rate of 2.53%, which is slightly higher than the national average of 1.08%. This rate is applied to the assessed value of a property, which is then used to calculate the property tax bill. On average, Saline County residents pay a property tax bill of $2,153.

Property tax rates vary across the cities in Saline County. Harrisburg has the highest effective property tax rate at 2.51%, while Eldorado has the lowest effective property tax rate at 2.37%. This difference in rates can result in a significant difference in the amount of property taxes paid by residents of different cities. In 2023, Saline County is expected to collect a total of $3.1M in property taxes.

The median home price in Saline County, Illinois remained unchanged from October 2022 to October 2023, at $109,000. However, the home inventory in Saline County increased from 64 in October 2022 to 83 in October 2023, indicating an increase in the number of homes available for sale. This suggests that the housing market in Saline County is stable, with no significant changes in home prices.

Mortgages in Saline County are a major factor in the local economy, with a total of $26.4 million in outstanding loans across the county. This represents a significant portion of the total home value in the area, indicating that many residents are taking advantage of the opportunity to purchase a home. The median mortgage rate in Saline County varies across cities, with Harrisburg having the highest rate at 4.25% and Eldorado having the lowest rate at 4.12%. This variation in rates allows potential homebuyers to shop around and find the best deal for their needs.

Overall, mortgages in Saline County are a great way for residents to invest in their future and purchase a home. With a total of 248 outstanding loans and a wide range of rates, there are plenty of options for those looking to buy a home in the area. With the right research and planning, potential homebuyers can find the best deal for their needs and make a sound investment in their future.