Example of Sangamon County Property Tax Calculation
When calculating Sangamon County Property Tax, the county assessor determines the assessed value of the property by taking into account the fair market value of the property, any improvements made to the property, and any exemptions that may be applicable.
The assessed value is then multiplied by the county tax rate, which is set by the Sangamon County Board. This results in the amount of property tax owed for that year.
For example, if a property in Sangamon County has an assessed value of $100,000 and the county tax rate is 2%, the property owner would owe $2,000 in property taxes for the year.
It is important to note that property tax rates and assessments can vary depending on the location and type of property, as well as any exemptions or deductions that may apply. It is advisable for property owners to check with their local county assessor's office for more specific information on their individual property tax calculations.
If you want appeal your property tax assessment - contact your local tax assessor.
Sangamon County Property Tax Rates
Here is a formatted table of Sangamon County Property Tax rates in US dollars per $100 of assessed value:
| Tax Type | Rate per $100 Assessed Value |
|---|---|
| General | 0.8322 |
| Road | 0.0918 |
| Bridge | 0.0200 |
| Pension | 0.0200 |
| IMRF | 0.0900 |
| Health | 0.1000 |
| TIF | 0.0000 |
These rates are subject to change and should be confirmed with Sangamon County directly.
Who sets property tax rates in Sangamon County ?
Who sets property tax rates in Sangamon County?
The Sangamon County Board is responsible for setting property tax rates in Sangamon County. The Board, which is made up of elected officials, meets annually to determine the property tax rates for the upcoming year.
When are property tax rates set in Sangamon County?
The property tax rates in Sangamon County are typically set in the fall, after the county's budget has been approved. The specific date varies from year to year, but the Board typically sets the rates in September or October.
How are property tax rates determined in Sangamon County?
When setting property tax rates, the Sangamon County Board takes into account a variety of factors, including:
- The county's budgetary needs
- The assessed values of the properties in the county
- The level of services provided by the county government
- Any changes to state laws or regulations that may affect property taxes
Once these factors have been considered, the Board sets a tax rate that is designed to generate the revenue needed to fund county operations for the upcoming year.
Overall, Sangamon County property tax rates are designed to be fair and equitable, and are set with the needs of both the county government and its residents in mind.
Homestead exemptions in Sangamon County ?
To help Sangamon County taxpayers understand their Homestead exemptions and deductions, here is a table that outlines the available options.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner-occupied primary residence where the owner holds legal or equitable title on January 1st of the tax year | $6,000 assessed value reduction | Applies to all taxing districts |
| Senior Citizen Homestead Exemption | Owner-occupied primary residence where the owner is 65 years or older on January 1st of the tax year | $5,000 assessed value reduction | Applies to all taxing districts |
| Senior Citizen Assessment Freeze Homestead Exemption | Owner-occupied primary residence where the owner is 65 years or older and has a maximum household income of $65,000 | Freezes the equalized assessed value (EAV) at the base year level | Applies to all taxing districts |
| Disabled Person Homestead Exemption | Owner-occupied primary residence where the owner is disabled and the disability has lasted or is expected to last for at least a year | $2,000 assessed value reduction | Applies to all taxing districts |
| Disabled Veterans' Standard Homestead Exemption | Owner-occupied primary residence where the owner is a veteran with at least a 30% service-connected disability | $2,500 assessed value reduction | Applies to all taxing districts |
| Disabled Veterans' Homestead Exemption for Specially Adapted Housing | Owner-occupied primary residence where the owner is a veteran who has been awarded a federal grant for specially adapted housing | Property is exempt from taxation | Applies to all taxing districts |
| Returning Veterans' Homestead Exemption | Owner-occupied primary residence where the owner served in the armed forces during a war, conflict or period of hostilities and was honorably discharged | $5,000 assessed value reduction | Applies to all taxing districts |
Note: To be eligible for any of the above exemptions or deductions, the property must be the owner's primary residence. Additionally, some exemptions and deductions may have income restrictions or other eligibility requirements. It is recommended that Sangamon County taxpayers consult with their local tax assessor's office to determine their eligibility and to apply for any applicable exemptions or deductions.
When is Sangamon County Property Tax due ?
Sangamon County Property Tax is typically due on June 10th of each year. Property owners have several payment methods available to them, including:
| Method | Details |
|---|---|
| Online | Property owners can pay their tax bill online through the Sangamon County website using a credit card or e-check. |
| Payment can also be made by mailing a check or money order to the Sangamon County Treasurer's Office. | |
| In Person | Property owners can visit the Sangamon County Treasurer's Office in person to pay their property tax bill. Cash, check, and credit cards are accepted. |
It's important to note that if the due date falls on a weekend or holiday, the deadline will be extended to the next business day. Failure to pay property taxes on time can result in penalties and interest charges.
If you have more questions - contact your local tax collector.
How is Sangamon County Property Tax penalty calculated ?
Sangamon County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, Sangamon County imposes penalties and interest on the unpaid tax amount. The penalty is calculated as a percentage of the unpaid tax amount and is added to the tax bill.
The penalty rate varies depending on the date the tax payment becomes delinquent. Here's how the penalty is calculated:
| Penalty date | Penalty rate |
|---|---|
| First due date | No penalty |
| Second due date | 1.5% |
| Third due date | 3.0% |
| Fourth due date | 4.5% |
| Fifth due date | 6.0% |
| Sixth due date | 7.5% |
| Seventh due date | 9.0% |
| Eighth due date | 10.5% |
| Ninth due date | 12.0% |
| Tenth due date and after | 15.0% |
For example, if a property owner fails to pay their $2,000 property tax bill by the second due date, which is usually September 1st, the penalty will be calculated as follows:
Unpaid tax amount = $2,000 Penalty rate = 1.5% Penalty amount = $30 (1.5% of $2,000) Total tax bill = $2,030 ($2,000 + $30)
If the property owner still doesn't pay by the third due date, the penalty rate increases to 3.0%, and the penalty amount will be $60. The process continues in this way, with the penalty rate increasing every due date.
It's important to note that Sangamon County also charges interest on the unpaid tax amount at a rate of 1% per month or fraction thereof. So, the longer the tax payment remains delinquent, the higher the penalty and interest charges will be.
In summary, if you're a property owner in Sangamon County, make sure to pay your property taxes on time to avoid penalty and interest charges.
We recommend contacting the Sangamon County Tax Office or a local tax professional for the most up-to-date and accurate information.