Who sets property tax rates in Shelby County ?
In Shelby County, property tax rates are set by the County Commission annually. This typically occurs in the month of July. The rates are based on the assessed value of the property and are used to fund local government services such as schools, public safety, and infrastructure improvements. The exact rate depends on the location of the property within the county and can vary between municipalities. Property owners should check with their local tax assessor's office for the most up-to-date information on rates for their specific area.
Example of Shelby County Property Tax Calculation
Shelby County Property Tax is calculated based on the value of the property, which is determined by the county assessor's office. The tax rate is set by the county commission and varies depending on the location of the property.
For example, if a property in Shelby County has a value of $100,000 and the tax rate is 2%, the property owner would owe $2,000 in property taxes. This amount is paid annually and is typically due by the end of January.
It's important for property owners in Shelby County to stay up to date on their property taxes to avoid late fees and potential penalties. Property taxes help fund local government services like schools, roads, and public safety, so paying them on time is an important responsibility for all property owners.
If you want appeal your property tax assessment - contact your local tax assessor.
Shelby County Property Tax Rates
Below is a table of Shelby County Property Tax rates, presented in a formatted table with columns indicating the tax and rate per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $4.37 |
| School District | Varies by district, but ranges from $1.65 to $2.13 |
| Municipalities | Varies by municipality, but ranges from $0.84 to $5.18 |
| Special Districts | Varies by district, but ranges from $0.05 to $2.55 |
It's important to note that property tax rates can vary depending on location and individual property assessments. It's recommended to consult with a tax professional for personalized advice.
Homestead exemptions in Shelby County ?
Creating a table to list all county specific Homestead exemptions and deductions in Shelby County, Illinois is a great way for homeowners to identify potential tax savings. Here are the four columns that will be included in the table:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead exemption | Primary residence | $6,000 | Available to all homeowners |
| Senior citizens' homestead exemption | Age 65 and above | $5,000 | Available to senior citizens |
| Disabled veterans' homestead exemption | Qualifying veterans | $2,500 | Available to disabled veterans |
| Home improvement exemption | Homeowners making improvements | Varies | Available for qualifying home improvements |
It's important to note that eligibility requirements and amounts may vary depending on the county and specific circumstances of the homeowner. Additionally, homeowners may need to provide documentation or apply for these exemptions and deductions.
Overall, this table provides a useful overview of the Homestead exemptions and deductions available to homeowners in Shelby County, Illinois. By taking advantage of these opportunities, homeowners can potentially lower their property taxes and save money.
When is Shelby County Property Tax due ?
Shelby County Property Tax is typically due on October 1st of each year. However, taxpayers have until February 28th of the following year to pay without incurring any penalty or interest fees.
There are several methods available for taxpayers to make their payments, including:
| Payment Method | Description |
|---|---|
| Online Payment | Taxpayers can pay online using their credit/debit card, e-check, or ACH transfer through the Official Payments website. |
| Mail-in Payment | Taxpayers can send a check or money order by mail to the Shelby County Trustee's office. |
| In-person Payment | Taxpayers can visit one of the five Trustee's offices located throughout the county to pay in person. Acceptable forms of payment include cash, check, money order, or credit/debit card (additional fee applies). |
| Bank Draft | Taxpayers can authorize an automatic bank draft to pay their property taxes. This option is available through the Shelby County Trustee's office. |
It's important to note that taxpayers who fail to pay their property taxes by the due date may face penalties and interest fees, which increase the longer the payment remains outstanding. Therefore, it's recommended that taxpayers make their payments as early as possible to avoid any unnecessary charges.
If you have more questions - contact your local tax collector.
How is Shelby County Property Tax penalty calculated ?
Shelby County Property Tax Penalty Calculation
When property owners in Shelby County fail to pay their property taxes on time, they may be subject to a penalty. The calculation of this penalty is based on various factors, including the amount owed, the length of time the payment is late, and the interest rate.
The penalty for late payment of Shelby County property taxes is 1.5% per month, which is equivalent to 18% per year. This penalty is applied to the unpaid balance of the property tax bill beginning on March 1st of each year.
For example, if John owns a property in Shelby County and owes $3,000 in property taxes, but fails to make the payment by March 1st, he will be subject to a penalty of 1.5% per month. If John makes the payment on May 1st, he will owe an additional $90 in penalties ($3,000 x 0.015 x 2 = $90).
In addition to the penalty, interest will accrue on any unpaid balance of the tax bill at a rate of 1% per month, which is equivalent to 12% per year.
It is important for property owners in Shelby County to pay their property taxes on time to avoid penalties and interest. Failure to pay property taxes can lead to serious consequences, including the loss of the property through a tax sale.
Here is a summary of the penalty calculation for Shelby County property taxes:
| Calculation | Penalty |
|---|---|
| Late payment penalty | 1.5% per month |
| Interest rate | 1% per month |
| Penalty start date | March 1st |
| Example penalty calculation | John owes $3,000 in property taxes, but pays on May 1st. Penalty = $90 ($3,000 x 0.015 x 2) |
In conclusion, property owners in Shelby County should pay their property taxes on time to avoid penalties and interest. The penalty for late payment of property taxes is 1.5% per month, and interest accrues at a rate of 1% per month.
We recommend contacting the Shelby County Tax Office or a local tax professional for the most up-to-date and accurate information.