Example of Alexander County Property Tax Calculation
In Alexander County, property tax is calculated based on the assessed value of the property. The assessed value is determined by the county assessor’s office, and it takes into account the size, location, and age of the property.
To calculate the property tax, the assessed value of the property is multiplied by the tax rate. The tax rate is set by the county government and may vary from year to year. For example, if the assessed value of a property is $100,000 and the tax rate is 1%, the property tax would be $1,000 ($100,000 x 0.01).
It is important to note that there may be additional taxes and fees that apply to certain types of properties, such as commercial or rental properties. Property owners can contact the county assessor’s office for more information on their specific property tax situation.
Overall, understanding property tax calculation in Alexander County is important for property owners to properly budget and plan for their expenses.
If you want appeal your property tax assessment - contact your local tax assessor.
Alexander County Property Tax Rates
The following table lists the tax rates for Alexander County in US dollars per $100 of assessed property value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Tax | $0.58 |
| Fire District | $0.06 |
| School Tax | $0.845 |
| Municipality | Varies |
It is important to note that the municipality tax rate in Alexander County varies depending on the specific location of the property. It is recommended to contact the local government for more information on the exact rate for a particular area.
Who sets property tax rates in Alexander County ?
The property tax rates in Alexander County are set by the County Board of Commissioners annually. This typically happens in June of each year when the board receives the assessed values of all properties within the county. After reviewing the assessed values, the board sets the tax rate for the upcoming fiscal year, which runs from July 1st to June 30th. The tax rate is then applied to the assessed value of each property to determine the property tax owed by the owner. It is important to note that property tax rates can vary from year to year depending on the financial needs of the county and changes in property values.
Homestead exemptions in Alexander County ?
The table below lists all the county specific Homestead exemptions and deductions in Alexander County, Illinois. This information is crucial for anyone who is considering purchasing a home or currently owns a property in Alexander County.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Primary residence of the property owner | Up to $6,000 | Must apply annually |
| Senior Citizen Homestead Exemption | 65 years or older, primary residence of the property owner | Up to $5,000 | Must apply annually |
| Homestead Improvement Exemption | Primary residence of the property owner, making improvements to the property | Up to $25,000 | Exemption applies to the increase in assessed value due to the improvement |
| Disabled Veterans' Standard Homestead Exemption | Honorably discharged veteran with a service-connected disability, primary residence of the property owner | Up to $100,000 | Must apply annually |
| Disabled Person Homestead Exemption | Disability must be permanent and total, primary residence of the property owner | Up to $2,000 | Must apply annually |
It is important to note that the eligibility criteria and amounts may vary depending on the individual's circumstances. Property owners are encouraged to contact the Alexander County Assessor's Office for more information and to apply for these exemptions and deductions.
When is Alexander County Property Tax due ?
Alexander County Property Tax is typically due on September 1st of each year. Property owners have until January 5th of the following year to pay their taxes without incurring any penalties or interest fees. Here are the available payment methods for Alexander County Property Tax:
| Payment Method | Details |
|---|---|
| Online | Property owners can pay their taxes online using a debit or credit card. They will need their tax bill number to complete the transaction. A convenience fee will apply. |
| Property owners can mail their payment along with their tax bill to the Alexander County Tax Collector's Office. The mailing address and payment information will be provided on the tax bill. | |
| In Person | Property owners can pay their taxes in person at the Alexander County Tax Collector's Office. They can pay using cash, check, or money order. The office hours are Monday through Friday, from 8:00 am to 5:00 pm. |
It is important to note that failure to pay property taxes can result in penalties, fees, and even the loss of the property itself. Property owners should make every effort to pay their taxes on time and in full.
If you have more questions - contact your local tax collector.
How is Alexander County Property Tax penalty calculated ?
Alexander County calculates property tax penalties based on a set schedule. Penalties are added to unpaid taxes at specific intervals after the payment due date. Below is an example of how the penalty is calculated:
- Payment Due Date: September 1st
- Penalty Schedule:
- September 1st - October 1st: None
- October 2nd - November 1st: 1%
- November 2nd - December 1st: 2%
- December 2nd - January 5th: 3%
- January 6th and after: 5%
- Example Calculation: Property tax bill of $1,000 due on September 1st.
- If payment is made on September 15th, no penalty is applied.
- If payment is made on October 15th, a penalty of $10 (1% of $1,000) is added to the bill.
- If payment is made on December 15th, a penalty of $30 (3% of $1,000) is added to the bill.
- If payment is made on February 1st, a penalty of $50 (5% of $1,000) is added to the bill.
It's important to note that penalties are cumulative, meaning if payment is not made during one penalty interval, the next penalty will be charged on the original tax amount plus any previous penalties. For example, if the October 2nd - November 1st penalty is not paid, the November 2nd - December 1st penalty will be charged on the original tax amount plus the 1% penalty already incurred.
In order to avoid penalties, property owners should make their tax payments by the due date. If payment cannot be made in full, it is advisable to contact Alexander County to set up a payment plan.
We recommend contacting the Alexander County Tax Office or a local tax professional for the most up-to-date and accurate information.