Example of Calhoun County Property Tax Calculation
Calhoun County Property Tax is calculated by multiplying the assessed value of a property by the millage rate. The assessed value is determined by the county assessor's office based on the market value of the property. The millage rate is set by local government officials and is expressed in mills, with one mill being equal to one-tenth of one percent.
For example, if a property in Calhoun County has an assessed value of $100,000 and the millage rate is 50 mills, the property tax would be calculated as follows:
$100,000 assessed value x 0.050 (50 mills divided by 1,000) = $5,000 property tax
It is important to note that property tax rates may vary depending on the location and type of property. Homeowners may also qualify for certain exemptions or deductions that could lower their property tax bill.
If you want appeal your property tax assessment - contact your local tax assessor.
Calhoun County Property Tax Rates
The Calhoun County Property Tax rates are listed below in a formatted table, with columns showing the tax and the rate per $100 of assessed value.
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $0.57 |
| County Agricultural Extension Services | $0.01 |
| County Library | $0.08 |
| County Parks and Recreation | $0.05 |
| Senior Citizens Services | $0.03 |
| Health Department | $0.02 |
| Total | $0.76 |
These rates apply to all properties within Calhoun County, and are subject to change on an annual basis. Property owners are encouraged to consult with a tax advisor for personalized advice on managing their property tax obligations.
Who sets property tax rates in Calhoun County ?
Who sets property tax rates in Calhoun County?
The Calhoun County Board of Commissioners is responsible for setting property tax rates in Calhoun County. The board meets annually to determine the millage rate, which is the amount of tax charged per every $1,000 of a property's taxable value.
When are property tax rates set in Calhoun County?
The Calhoun County Board of Commissioners typically sets the property tax rates in September of each year. The millage rate is then applied to the taxable value of each property in the county to determine the property tax amount owed by the property owner.
How are property tax rates calculated in Calhoun County?
Property tax rates in Calhoun County are calculated based on the millage rate determined by the Board of Commissioners and the taxable value of each property. The taxable value of a property is determined by the Calhoun County Equalization Department based on market trends and property assessments.
What are property tax rates used for in Calhoun County?
Property tax rates in Calhoun County are used to fund local government services such as schools, public safety, roads and infrastructure, and other essential community programs. These taxes are essential to ensure that Calhoun County can provide the necessary services and resources for its residents.
Homestead exemptions in Calhoun County ?
To assist Illinois residents, here is a table that lists all county-specific Homestead exemptions and deductions available in Calhoun County. The table below includes four columns: exemption, eligibility, amount, and notes.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner-occupied primary residence | Up to $6,000 | No age or income restrictions |
| Senior Citizens Homestead Exemption | Owner-occupied primary residence by individuals 65 and older | Up to $5,000 | Income limit of $55,000 |
| Senior Citizens Assessment Freeze Homestead Exemption | Owner-occupied primary residence by individuals 65 and older | Freezes the equalized assessed value (EAV) of the property | Income limit of $65,000 |
| Disabled Persons Homestead Exemption | Owner-occupied primary residence by individuals with qualifying disabilities | Up to $2,000 | Qualifying disabilities include any disability that limits a person's ability to function |
| Disabled Veterans Standard Homestead Exemption | Owner-occupied primary residence by veterans with service-connected disabilities | $2,500 of assessed value | Must be a resident of Illinois and have a service-connected disability of at least 30% |
| Disabled Veterans' Homestead Exemption | Owner-occupied primary residence by veterans with service-connected disabilities | Exempts the property from taxation | Must be a resident of Illinois and have a service-connected disability of at least 70% |
It is important to note that these exemptions and deductions are subject to change, and individuals should always consult with their local assessor's office to verify eligibility and requirements. These exemptions can provide significant tax savings for eligible homeowners.
When is Calhoun County Property Tax due ?
Calhoun County Property Tax is typically due on October 1st of each year. However, taxpayers have until March 31st of the following year to make their payment without any penalties.
There are several payment methods available to taxpayers in Calhoun County. These include:
-
Online payments - Taxpayers can pay their property taxes online using a credit card, debit card, or eCheck.
-
Mail-in payments - Taxpayers can mail in their payment using a check or money order.
-
In-person payments - Taxpayers can also make their payment in person at the Calhoun County Treasurer's Office.
It is important to note that if a taxpayer fails to make their property tax payment by the due date, they will be subject to penalties and interest charges. Therefore, it is highly recommended that taxpayers make their payments on time to avoid any additional fees.
If you have more questions - contact your local tax collector.
How is Calhoun County Property Tax penalty calculated ?
Calhoun County property tax penalty is calculated by applying a percentage rate to the unpaid property taxes. The penalty is typically 1% of the unpaid taxes per month, with a maximum penalty of 12% per year. The penalty is calculated from the due date of the taxes, usually March 1st, until the date the taxes are paid in full.
For example, if a property owner in Calhoun County has unpaid property taxes of $10,000 due on March 1st, and they do not pay the taxes until June 1st, they will incur a penalty of 3% (1% per month for March, April, and May). This penalty would be calculated as follows:
| Month | Unpaid Taxes | Penalty |
|---|---|---|
| March | $10,000 | $100 |
| April | $10,100 | $101 |
| May | $10,201 | $102 |
| Total | $10,303 | $303 |
Therefore, the total amount owed would be $10,303 ($10,000 in unpaid taxes plus $303 in penalties).
It is important for property owners in Calhoun County to pay their property taxes on time to avoid incurring penalties. If a property owner is unable to pay their taxes in full by the due date, they may be able to set up a payment plan with the Calhoun County Treasurer's office to avoid incurring penalties.
We recommend contacting the Calhoun County Tax Office or a local tax professional for the most up-to-date and accurate information.