Example of Perry County Property Tax Calculation
The Perry County Property Tax is calculated by multiplying the assessed value of a property by the current tax rate. For example, if a property in Perry County has an assessed value of $100,000 and the current tax rate is 2%, the property owner would need to pay $2,000 in property taxes for that year.
To calculate the assessed value of a property, the local government will typically use the fair market value of the property and apply a percentage based on the property's classification. For instance, residential properties may only be assessed at 70% of their fair market value, while commercial properties may be assessed at 100% of their fair market value.
It is important to note that the tax rate can vary from year to year and may also differ depending on the specific location within Perry County. Property owners can typically find information on their property's assessed value and tax rate on the county assessor's website or by contacting the local tax office.
Overall, understanding how Perry County Property Tax is calculated can help property owners budget for their expenses and ensure that they are staying up-to-date on their tax obligations.
If you want appeal your property tax assessment - contact your local tax assessor.
Perry County Property Tax Rates
The Perry County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.87 |
| School District | $1.73 |
| Municipality | $0.65 |
| Total | $3.25 |
These rates apply to all taxable properties within Perry County. It is important to note that the actual amount of property tax owed will vary depending on the assessed value of the property. Property owners should consult with a trusted tax advisor for personalized advice on managing their property tax obligations.
Who sets property tax rates in Perry County ?
Property Tax Rates in Perry County
Property tax rates in Perry County are determined by the Perry County Board of Commissioners. They are responsible for setting the tax rate every year.
The board usually meets in the fall to discuss and set the property tax rate for the upcoming year. The rate is based on the assessed value of the property and is typically expressed as a percentage of that value.
Once the tax rate is set, it is applied to all taxable properties in the county. Property owners can then expect to receive a tax bill based on their property's assessed value and the current tax rate.
It's important to note that property tax rates may vary from one county to another. If you're unsure about how property taxes work in your area, it's always best to consult with a qualified tax advisor.
Homestead exemptions in Perry County ?
In Perry County, Illinois residents are eligible for various Homestead exemptions and deductions to reduce their property tax bills. Here is a breakdown of the available exemptions and deductions, along with their eligibility criteria, exemption amount, and any important notes:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner-occupied homes | Up to $6,000 | Must be occupied as the primary residence on January 1 of the tax year |
| Senior Citizen Homestead Exemption | Owner-occupied homes of those 65 or older | Up to $8,000 | Must have a total household income of $65,000 or less |
| Senior Citizen Assessment Freeze Homestead Exemption | Owner-occupied homes of those 65 or older | Freezes the equalized assessed value (EAV) of the property | Must have a total household income of $65,000 or less |
| Homestead Improvement Exemption | Owner-occupied homes that have made qualifying improvements | Up to $25,000 | Improvements must increase the home's value by at least 25% |
| Disabled Veterans Standard Homestead Exemption | Owner-occupied homes of disabled veterans | Up to $2,500 | Must have a service-related disability of at least 30% |
| Disabled Veterans Homestead Exemption | Owner-occupied homes of disabled veterans | Exempts the home's EAV | Must have a service-related disability of at least 70% |
It is important to note that these exemptions and deductions may have additional eligibility requirements or limitations. Property owners in Perry County should consult with their local assessor's office to determine their eligibility and apply for these tax-saving opportunities.
When is Perry County Property Tax due ?
According to the Perry County Treasurer's website, property taxes are typically due on December 31st each year. However, if December 31st falls on a weekend or holiday, the due date is extended to the next business day.
There are several payment methods available for Perry County Property Tax:
| Method | Description |
|---|---|
| Online | Property owners can pay their taxes online using a credit or debit card. A convenience fee applies to online payments. |
| Property owners can mail in their payment along with a check or money order. The address for mailing payments is listed on the tax bill. | |
| In person | Property owners can make a payment in person at the Perry County Treasurer's office. Cash, check, or money order is accepted. |
| Dropbox | For added convenience, a payment dropbox is available outside of the Treasurer's office for property owners who wish to drop off their payment outside of business hours. |
It is important to note that failure to pay property taxes by the due date may result in additional fees and penalties. Property owners with questions or concerns about their taxes should contact the Perry County Treasurer's office for assistance.
If you have more questions - contact your local tax collector.
How is Perry County Property Tax penalty calculated ?
Perry County Property Tax Penalty Calculation:
When a property owner in Perry County fails to pay their property taxes by the due date, they will incur a penalty. The penalty is calculated based on the unpaid taxes and the number of days the payment is late. Below is an example of how the penalty is calculated.
Example:
Suppose a property owner in Perry County has an annual property tax bill of $2,500. The due date for payment is January 31st. However, the property owner fails to pay on time and instead pays on February 15th. In this scenario, the penalty will be calculated as follows:
- Unpaid taxes: $2,500
- Late payment: 15 days
- Penalty rate: 0.5% per month
Calculation:
- Late Payment Penalty: $2,500 x 0.5% = $12.50 (per month)
- Number of months late: 15 days รท 30 days = 0.5 months
- Late Payment Penalty: $12.50 x 0.5 = $6.25
Therefore, the penalty for the late payment of taxes in this scenario would be $6.25. This amount would be added to the original tax bill of $2,500, resulting in a new total of $2,506.25.
In summary, if someone fails to pay their Perry County property taxes on time, the penalty will be calculated based on the amount of unpaid taxes and the number of days late. The penalty rate is 0.5% per month. It is important to pay property taxes on time to avoid incurring penalties.
We recommend contacting the Perry County Tax Office or a local tax professional for the most up-to-date and accurate information.