Example of Edwards County Property Tax Calculation
To calculate Edward County property taxes, the county assesses the value of each property based on its fair market value. This value is multiplied by the county's tax rate, which is currently set at 1.82%.
For example, if a property in Edward County is assessed at a fair market value of $100,000, the property owner would owe $1,820 in property taxes for the year.
It's important to note that property taxes in Edward County may also include additional fees and assessments, such as school district taxes or special improvement district taxes. Homeowners should consult with the county tax assessor's office for a full breakdown of their property tax bill.
If you want appeal your property tax assessment - contact your local tax assessor.
Who sets property tax rates in Edwards County ?
In Edwards County, property tax rates are set by the County Board of Supervisors. They do so annually, typically during the months of August and September. The specific rates are based on the assessed value of the property, which is determined by the County Assessor's Office. The property tax revenue is used to fund various public services, such as education, infrastructure, and emergency services within Edwards County.
Edwards County Property Tax Rates
The Edwards County Property Tax rates per 100$ of assessed value are as follows:
| Tax | Rate per 100$ of assessed value |
|---|---|
| County | $0.57 |
| School | $1.11 |
| Municipal | $0.72 |
| Special District | $0.36 |
| Total | $2.76 |
It is important to note that these rates may vary depending on the specific property and its location within Edwards County. As a tax advisor, it is recommended to consult with local authorities or a licensed professional for accurate and up-to-date information on property tax rates in Edwards County.
When is Edwards County Property Tax due ?
Edwards County Property Tax typically has two installment due dates:
- First Payment: March 1st
- Second Payment: August 1st
Both payments can be made through various payment methods such as:
| Payment Method | Description |
|---|---|
| Online Payment | You can pay your property tax online using a debit or credit card. |
| You can also mail a check or money order to the Edwards County Treasurer's Office. | |
| In-Person | You can make a payment in-person at the Treasurer's Office during office hours. |
It is important to note that failing to pay your property tax on time may result in penalties and interest charges being added to your balance. Therefore, it is recommended to pay your property tax on or before the due dates to avoid any extra charges.
If you have more questions - contact your local tax collector.
How is Edwards County Property Tax penalty calculated ?
Edwards County calculates property tax penalties based on a set formula. The penalty is added for late payment of property taxes. Here is an example of how the penalty is calculated:
Assuming the property tax amount is $1,000, and the payment is made 30 days late, the penalty applied would be:
| Penalty Calculation | Formula | Result |
|---|---|---|
| Base Penalty | 10% of tax due | $100 |
| Additional Penalty | 1% per month of delinquency | $10 |
| Total Penalty | Sum of base penalty and additional penalty | $110 |
Therefore, the total amount due for the property taxes would be $1,110. If the payment is further delayed, an additional 1% per month will be added to the penalty. It is important to pay property taxes on time to avoid incurring penalties as they can add up quickly.
Homestead exemptions in Edwards County ?
To assist Edwards County residents with understanding their Homestead exemptions and deductions, we have compiled a table with all the relevant information. The table contains four columns, namely exemption, eligibility, amount, and notes.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner-occupied property | $6,000 off equalized assessed value | Must file an application by July 1 |
| Senior Citizen Homestead Exemption | Owner-occupied property + 65 years old | $5,000 off equalized assessed value | Must file an application by July 1 |
| Senior Citizen Assessment Freeze Homestead Exemption | Owner-occupied property + 65 years old + income < $65,000 | Increases in assessed value are frozen | Must file an application by July 1 |
| Disabled Veterans Homestead Exemption | Owner-occupied property + disabled veteran (service-related) | $2,500 off equalized assessed value | Must file an application by July 1 |
| Returning Veterans Homestead Exemption | Owner-occupied property + served abroad in armed conflict | $5,000 off equalized assessed value | Must file an application within two years of returning home |
| Home Improvement Exemption | Owner-occupied property + home improvements | Up to $75,000 in added value exempted | Must file an application within 90 days of completing the project |
| Religious Property Exemption | Property owned by a religious institution | 100% exemption from property taxes | Must file an application by January 31 |
It is important to note that eligibility requirements and deadlines for these exemptions and deductions may vary from county to county. Therefore, residents are encouraged to contact the Edwards County Assessor's Office for more information or clarification.
We recommend contacting the Edwards County Tax Office or a local tax professional for the most up-to-date and accurate information.