Example of Coles County Property Tax Calculation
Coles County calculates property taxes based on the assessed value of the property. The county assessors determine the value of a property by taking into account various factors such as the property type, location, and condition. Once the assessed value is determined, the county uses a tax rate to calculate the amount of property tax owed.
For example, if a property in Coles County has an assessed value of $100,000 and the tax rate is 1%, the property owner would owe $1,000 in property taxes. It's important to note that tax rates can vary depending on the location and specific tax levies in the area.
To estimate your property tax, you can use online tax calculators or contact the Coles County Treasurer's office for more information. Remember to pay your property taxes on time to avoid penalties and interest charges.
If you want appeal your property tax assessment - contact your local tax assessor.
Coles County Property Tax Rates
Here's a formatted table listing Coles County Property Tax rates:
| Tax | Rate per $100 of assessed value |
|---|---|
| Coles County General | $0.7092 |
| Mattoon School District | $2.4421 |
| Charleston School District | $2.3467 |
| Oakland School District | $2.1711 |
| Ashmore School District | $2.4824 |
| Kansas School District | $2.4348 |
| Lerna School District | $2.3765 |
| Charleston Park District | $0.1500 |
| Mattoon Public Library | $0.3749 |
Please note that these tax rates are current as of 2021 and are subject to change. It's always best to consult with a professional tax advisor for more detailed and personalized information.
Who sets property tax rates in Coles County ?
Who sets property tax rates in Coles County?
The Coles County Board of Review sets the property tax rates in Coles County. The Board of Review is a government agency responsible for assessing and reviewing property values and determining the amount of taxes owed.
When are property tax rates set in Coles County?
Property tax rates in Coles County are set annually, typically in the fall or early winter. The exact date may vary slightly from year to year, but property owners can expect to receive their property tax bills in the mail by late December or early January.
How are property tax rates determined in Coles County?
Property tax rates in Coles County are determined based on the assessed value of the property and the tax rate set by the Board of Review. The assessed value of the property is determined by the County Assessor's Office, which is responsible for evaluating the value of all properties within the county. The tax rate is set based on the budget needs of the county and other local governments and is designed to generate enough revenue to cover expenses while keeping taxes reasonable for property owners.
Conclusion
In Coles County, the Board of Review is responsible for setting property tax rates annually, typically in the fall or early winter. The tax rate is based on the assessed value of the property and is designed to generate enough revenue to cover expenses while keeping taxes reasonable for property owners.
Homestead exemptions in Coles County ?
In Coles County, Illinois, there are several Homestead exemptions and deductions available to eligible residents. Here is a breakdown of the different options and their respective details:
Exemptions
| Exemption Name | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Primary residence | Up to $6,000 | Must be applied for annually |
| Senior Citizens Homestead Exemption | Age 65+, primary residence | Up to $8,000 | Must be applied for annually |
| Disabled Persons Homestead Exemption | Disability status, primary residence | Up to $2,000 | Must be applied for annually |
| Disabled Veterans' Homestead Exemption | Disability status, primary residence | Varies | Must provide proof of disability and military service |
Deductions
| Deduction Name | Eligibility | Amount | Notes |
|---|---|---|---|
| Home Improvement Exemption | Improvements to primary residence | Up to $25,000 | Must be applied for within 90 days of completion |
| Property Tax Freeze | Age 65+, income below $65,000 | Varies | Must apply annually and meet income requirements |
It is important to note that these exemptions and deductions may have specific requirements and deadlines for application. Individuals interested in applying for these benefits should contact their local county assessor's office for more information.
When is Coles County Property Tax due ?
Coles County Property Tax is typically due on September 14th of each year. As for payment methods, there are several options available.
| Payment Method | Details |
|---|---|
| Online | Payments can be made online through the Coles County Treasurer's website using either an e-check or credit/debit card. |
| Payments can be mailed to the Coles County Treasurer's office with a check or money order. | |
| In Person | Payments can be made in person at the Coles County Treasurer's office with cash, check, or money order. |
| Drop Box | A drop box is available outside of the Coles County Treasurer's office for after-hours payments with a check or money order. |
It is important to note that payments must be postmarked by September 14th in order to avoid penalties and interest. If you have any further questions, you can contact the Coles County Treasurer's office directly.
If you have more questions - contact your local tax collector.
How is Coles County Property Tax penalty calculated ?
Coles County calculates property tax penalties based on a set percentage of the unpaid tax amount. The penalty starts accruing the day after the payment deadline, which is typically September 1st. Here's an example:
- Property tax due: $5,000
- Payment deadline: September 1st
- Payment received on October 1st (one month late)
- Penalty percentage: 1.5%
To calculate the penalty, first determine how many days late the payment is. In this case, the payment is 30 days late. Then, calculate the penalty amount by multiplying the unpaid tax amount ($5,000) by the penalty percentage (1.5%) and then by the number of days late (30):
- Penalty amount: $5,000 x 1.5% x 30 = $225
The total amount due would be the original tax amount plus the penalty:
- Total amount due: $5,000 + $225 = $5,225
It's important to note that the penalty percentage may increase if the payment is even further delayed. Additionally, if the property tax remains unpaid, the county may take legal action, such as placing a lien on the property. It's always best to pay property taxes on time to avoid penalties and potential legal issues.
We recommend contacting the Coles County Tax Office or a local tax professional for the most up-to-date and accurate information.