Alpha, Knox County, Illinois Property Taxes

Name: Property Tax Bills Across Alpha, Knox County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median ALPHA, IL effective property tax rate: 2.65%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median ALPHA, IL home value: $160,170
Median annual ALPHA, IL tax bill: $4,152, $1,752 higher than the national median property tax bill of $2,400.

How are property taxes in Knox calculated?

Property taxes in ALPHA, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding ALPHA’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in ALPHA, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Alpha, Knox County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.65%

Estimate Property Tax Bill

$4,245

$3,939

Ownwell’s ALPHA Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in ALPHA with just two data points. By entering your property's estimated assessed value, our calculator applies ALPHA’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Knox. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Alpha, Knox County, Illinois

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

In {cityname:ALPHA}, located in {countyname:17095}, property owners experience a significant tax burden compared to other areas. The effective property tax rate here is notably higher than the national median of 1.02%. This can be attributed to the county's budget requirements and the assessed value of properties. In comparison to other cities in {statename:IL}, {cityname:ALPHA} stands out with its elevated rate, reflecting the local government's budgetary needs.

For residents, understanding how these rates are determined can highlight why their property tax bills might differ from those in neighboring areas. Comparing {cityname:ALPHA}’s effective property tax rate with the median rates in {statename:IL} and the U.S. provides valuable insight into the local taxation landscape.

Property Tax Rates Across Alpha, Knox County, Illinois

Source: Ownwell

0.27%

1.39%

2.52%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Alpha Tax Rate

2.65%

Median Effective Knox County Tax Rate

2.31%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Alpha, Knox County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61413	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Alpha, Knox County, Illinois

When examining property taxes in ALPHA, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Knox County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Knox County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in ALPHA. For example, the median home price in ALPHA is $160,170, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Alpha, Knox County, Illinois

Source: Ownwell

$41,790

$1,323,092

$2,604,393

Median Alpha Market Value

$160,170

Median Knox County Market Value

$78,330

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Alpha, Knox County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61413	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Alpha, Knox County, Illinois

In ALPHA, property tax bills are determined by assessing the property's market value and applying the local tax rate set by Knox County. Homeowners in this area face a median property tax bill significantly higher than the national median, with the 25th percentile at $4,076 and the 75th percentile reaching $4,264. This suggests that even the lower end of the tax spectrum in ALPHA surpasses the national median tax bill of $2,400. The tax burden can be substantial, especially when considering the median home price of $160,170 in the region.

For homeowners, understanding these numbers is crucial as they directly impact monthly expenses and overall affordability. This is where Ownwell steps in, offering expert property tax appeal and exemption services. By leveraging local expertise and comprehensive market analysis, Ownwell can identify potential opportunities to lower your tax bill, ensuring you only pay what’s fair. This not only alleviates financial pressure but also enhances property value over time, making homeownership more sustainable.

Property Tax Bills Across Alpha, Knox County, Illinois

Source: Ownwell

$748

$4,362

$7,975

Median Alpha Tax Bill

$4,152

Median Knox County Tax Bill

$1,699

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Alpha, Knox County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61413	N/A	N/A	N/A	N/A	N/A

Source: Ownwell