Example of Jo Daviess County Property Tax Calculation
Jo Daviess County calculates property taxes based on the assessed value of the property. The assessed value is determined by the county assessor's office and is based on the fair market value of the property. The property tax rate for Jo Daviess County is currently 7.8308%.
To calculate the property tax for a property in Jo Daviess County, you can follow these steps:
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Determine the assessed value of the property. This can be obtained from the county assessor's office.
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Multiply the assessed value by the current tax rate. For example, if the assessed value of the property is $100,000, the property tax would be calculated as follows:
$100,000 x 0.078308 = $7,830.80
- The annual property tax for the property would be $7,830.80.
It is important to note that this is just an estimate and the actual property tax amount may vary depending on any exemptions or special assessments that may apply to the property. It is recommended to consult with the county assessor's office or a tax professional for more accurate calculations.
If you want appeal your property tax assessment - contact your local tax assessor.
Jo Daviess County Property Tax Rates
Here is a formatted table of the Jo Daviess County Property Tax rates in US dollars per $100 of assessed value:
| Tax | Rate per $100 Assessed Value |
|---|---|
| General County Tax | $0.862 |
| County Corporate Tax | $0.714 |
| Special County Tax | $0.195 |
| County Property Tax Extension | $1.771 |
| Total County Tax Rate | $3.542 |
It is important to note that these rates may vary depending on the specific location and property within Jo Daviess County. It is recommended to consult with a local tax advisor for more specific and personalized information.
Who sets property tax rates in Jo Daviess County ?
Property Tax Rates in Jo Daviess County
Setting Property Tax Rates
The property tax rates in Jo Daviess County are set by the county's Board of Supervisors. The Board meets annually to determine the property tax rates for the upcoming year.
Factors Considered
When setting property tax rates, the Board of Supervisors takes into account several factors, including:
- The county's budget for the upcoming year
- The assessed value of all properties in the county
- Any changes to state or federal tax laws that may affect property taxes
Importance of Property Tax Rates
Property tax rates are an important source of revenue for local governments. They help fund essential services such as schools, roads, and public safety.
Property Tax Assessment
The assessed value of a property is determined by the Jo Daviess County Assessor's Office. Property owners have the right to appeal their property's assessed value if they believe it is inaccurate.
Conclusion
Understanding property tax rates and assessments is important for all Jo Daviess County property owners. By staying informed about these issues, they can ensure that they are paying their fair share of taxes and that their tax dollars are being used effectively.
Homestead exemptions in Jo Daviess County ?
To help homeowners in Jo Daviess County, Illinois understand what Homestead exemptions and deductions they may be eligible for, the following table outlines all county-specific criteria:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Must be the owner-occupant of the property | $6,000 | Applies to all residential properties |
| Senior Citizens Homestead Exemption | Must be 65 years or older and have a total household income of less than $65,000 | $5,000 | Can be combined with the General Homestead Exemption |
| Home Improvement Exemption | Must be the owner-occupant and have made improvements to the property that increase its assessed value by at least $25,000 | Up to $75,000 | Applies to the increased value of the property for up to 4 years |
| Disabled Veterans Standard Homestead Exemption | Must be an Illinois resident and have served in the Armed Forces | $2,500 | Applies to the primary residence of the veteran |
| Returning Veterans Homestead Exemption | Must have served as an active duty member of the U.S. Armed Forces after September 11, 2001 | $5,000 | Applies to the primary residence of the veteran for 2 consecutive years |
| Disabled Persons Homestead Exemption | Must have a disability and be the owner-occupant of the property | $2,000 | Can be combined with the General Homestead Exemption |
It's important to note that each exemption or deduction has specific requirements and limitations, and homeowners should verify their eligibility with the county assessor's office. Taking advantage of these options can result in significant savings on property taxes.
When is Jo Daviess County Property Tax due ?
Jo Daviess County Property Tax is typically due on or before September 1st of each year. It is important to note that failure to pay the property tax on time can result in penalties and interest charges.
There are several payment methods available for property tax payment in Jo Daviess County, including:
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Online payment through the county's website using a credit card or e-check
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By mail with a check or money order
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In person at the treasurer's office with cash, check, or money order
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By phone using a credit card
It is recommended to double-check the payment options and due dates with the Jo Daviess County Treasurer's Office before making any payments to ensure accuracy and avoid potential penalties.
If you have more questions - contact your local tax collector.
How is Jo Daviess County Property Tax penalty calculated ?
Jo Daviess County Property Tax Penalty Calculation
Property taxes are an essential source of revenue for local governments to provide public services. Jo Daviess County in Illinois is one such locality that imposes property taxes on the assessed value of properties. However, failing to pay the property tax on time may result in penalties.
The penalty for late payment of property taxes in Jo Daviess County is calculated as a percentage of the unpaid tax amount. Here is how the penalty is calculated:
Penalty Calculation
| Payment Due Date | Penalty Percentage |
|---|---|
| July 1 | 1.5% |
| August 1 | 3% |
| September 1 | 4.5% |
| October 1 | 6% |
| November 1 | 7.5% |
| December 1 | 9% |
| January 1 | 10.5% |
As per the above table, the penalty percentage increases every month the property tax remains unpaid. For instance, if the property tax is due on July 1, and the owner fails to pay it until September 1, the penalty would be 4.5% of the unpaid tax amount.
Example
Suppose the assessed value of a property in Jo Daviess County is $100,000, and the annual property tax rate is 2%. Therefore, the tax amount due would be $2,000.
If the owner fails to pay the tax amount by the July 1 due date, the penalty would be 1.5% x $2,000 = $30.
If the owner still does not pay by the August 1 due date, the penalty would be 3% x $2,000 = $60.
If the property tax remains unpaid until the January 1 deadline, the penalty would be 10.5% x $2,000 = $210.
Therefore, it is essential to pay property taxes on time to avoid incurring hefty penalties in Jo Daviess County.
We recommend contacting the Jo Daviess County Tax Office or a local tax professional for the most up-to-date and accurate information.