Example of Clark County Property Tax Calculation
When calculating Clark County Property Tax, the assessor's office determines the assessed value of the property by taking the market value and applying a predetermined assessment rate. This rate can vary depending on the property type, such as residential or commercial.
For example, if a residential property has a market value of $200,000 and the assessment rate for residential properties is 35%, the assessed value would be $70,000 ($200,000 x 0.35).
Once the assessed value is determined, the property tax is calculated by multiplying the assessed value by the tax rate, which is set annually by the county or local government. For instance, if the tax rate is 1%, the property tax for the given example would be $700 ($70,000 x 0.01).
It's worth noting that property tax rates and assessment rates can vary by state and even by county, so it's important to check with the local assessor's office for accurate information.
If you want appeal your property tax assessment - contact your local tax assessor.
Clark County Property Tax Rates
Here's a table with Clark County Property Tax rates presented in a clear format:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| General Fund | $0.8613 |
| Road | $0.3002 |
| Library | $0.2316 |
| Fire | $0.1464 |
| EMS | $0.3357 |
| Total | $1.8752 |
Clark County's Property Tax rates are as follows: the General Fund tax is $0.8613 per $100 of assessed value, the Road tax is $0.3002 per $100, the Library tax is $0.2316 per $100, the Fire tax is $0.1464 per $100, the EMS tax is $0.3357 per $100, and the total property tax rate is $1.8752 per $100 of assessed value. This information can be helpful for taxpayers in Clark County to better understand their property tax obligations.
Who sets property tax rates in Clark County ?
Property Tax Rates in Clark County
In Clark County, property tax rates are set by the County Board of Commissioners. The rates are established on an annual basis and are based on the assessed value of each property.
The Board of Commissioners typically sets the property tax rates during a public meeting held in the fall of each year. Property owners are given notice of the new rates before they take effect, and have an opportunity to appeal their assessment if they believe it to be inaccurate.
It is important for property owners to understand that property taxes are a significant source of revenue for local governments, including schools, libraries, and emergency services. By paying their fair share of property taxes, individuals are helping to support the infrastructure and services that make Clark County a great place to live and work.
Homestead exemptions in Clark County ?
To help Clark County residents better understand their eligibility for Homestead exemptions and deductions, the blogger has created a table with four columns: exemption, eligibility, amount, and notes. Below are all the county-specific Homestead exemptions and deductions for Clark County in Illinois:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner-occupied primary residence | $6,000 assessed value reduction | Must apply annually |
| Senior Citizens Homestead Exemption | Owner-occupied primary residence, 65 years or older | $5,000 assessed value reduction | Must apply annually |
| Senior Citizens Assessment Freeze | Owner-occupied primary residence, 65 years or older, income under $65,000 | Frozen assessment | Must apply annually |
| Disabled Persons Homestead Exemption | Owner-occupied primary residence, disability certified by qualified medical professional | $2,000 assessed value reduction | Must apply annually |
| Veterans with Disabilities Homestead Exemption | Owner-occupied primary residence, disability certified by VA | $2,500 assessed value reduction | Must apply annually |
| Home Improvement Exemption | Owner-occupied primary residence, approved improvement project | Up to $75,000 assessed value reduction | Must apply prior to starting project |
| Returning Veterans' Homestead Exemption | Owner-occupied primary residence, served in armed forces since 9/11 | $5,000 assessed value reduction | Must apply within 2 years of return from service |
It's important to note that all exemptions and deductions have specific eligibility requirements and application processes, so interested parties should reach out to the Clark County Assessor's Office for more information.
When is Clark County Property Tax due ?
Clark County Property Tax is typically due on the third Monday in October of each year. This means that for 2021, the due date will be October 18th. Property owners are expected to make full payment of their property taxes by this date to avoid any penalties or interest charges.
Payment methods for Clark County Property Tax include:
- Online Payment: Property owners can pay their taxes online through the Clark County Treasurer's Office website. This method accepts debit cards, credit cards, and e-checks.
- Mail Payment: Property owners can mail their tax payment to the Clark County Treasurer's Office. The address can be found on the tax statement sent out annually.
- In-Person Payment: Property owners can visit the Clark County Treasurer's Office to make their tax payment in person. The office is open Monday through Friday from 8:00am to 5:00pm.
It is important to note that if property owners are unable to pay their taxes in full by the due date, they may be eligible to set up a payment plan. This option would allow for partial payments to be made over a period of time instead of one lump sum payment.
Overall, Clark County Property Tax is typically due on the third Monday in October and there are several payment methods available to property owners to ensure timely payment.
If you have more questions - contact your local tax collector.
How is Clark County Property Tax penalty calculated ?
Clark County Property Tax Penalty Calculation
Clark County assesses property taxes on an annual basis. Property owners are required to pay these taxes by the due date to avoid penalties. In case of non-payment of the property taxes by the due date, a penalty is assessed. The penalty is calculated as follows:
- On the first day after the due date, a penalty of 2% of the unpaid taxes is assessed.
- A further penalty of 8% of the unpaid taxes is assessed on the 31st day after the due date.
- If the taxes remain unpaid for more than 60 days, an additional penalty of 1% is assessed for each month that the taxes remain unpaid.
Example:
John owns a property in Clark County and owes $5,000 in property taxes for the year. The due date for payment was June 15th, but John failed to make the payment by the due date. Here's how the penalty would be calculated:
- 2% of $5,000 = $100 (penalty on the first day after the due date)
- 8% of $5,000 = $400 (penalty on the 31st day after the due date)
- 1% of $5,000 = $50 (penalty for each month after 60 days)
If John were to pay his property taxes 90 days late, he would be assessed a total penalty of $550 ($100 + $400 + $50). This would bring the total amount due to $5,550 ($5,000 + $550).
It's important to note that penalties can add up quickly, so it's important to pay property taxes on time to avoid incurring these additional charges.
We recommend contacting the Clark County Tax Office or a local tax professional for the most up-to-date and accurate information.