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Thursday, November 21, 2024

Analysis: Glen Carbon pays property taxes nearly 2 times the national average

Glencarbon

The house located at 24 Grainey Dr., Glen Carbon, has a property tax bill of nearly $3,700 in 2016. | zillow.com

The house located at 24 Grainey Dr., Glen Carbon, has a property tax bill of nearly $3,700 in 2016. | zillow.com

Property owners in Glen Carbon paid nearly 2.5 percent of the value of their homes in taxes last year. That’s nearly 2 times the national average, according to an LGIS analysis of real estate sales data in Madison County from Jan 1. to June 30.

Local Government Information Service (LGIS) publishes the Metro East Sun.

Glen Carbon, population 12,978, recorded a median sale price of $192,000, based on data from the 65 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of around $5,000, according county tax data from the Madison County Assessment Office.

That’s 2.5 percent of the community’s median home value. In the U.S., the average effective property tax rate is 1.19 percent.

Put another way: a $192,000 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $1,700, or nearly $2,800 less per year.

The analysis, including 26 Madison County communities with more than 5 sales since January, shows homeowners in East Alton, Madison, Pontoon Beach, and Highland, each clocking in with effective rates of 3 percent or higher. Hamel and Bethalto have rates higher than 2.75 percent.

Alhambra, Granite City, Wood River, Troy, and Hartford are 2.5 percent or higher — about average in Illinois but two times the national average.

Illinois homeowners pay the second-highest property tax in the country with an effective median rate of 2.32 percent, just behind those in New Jersey's (2.28 percent).

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Madison County communities paying the highest effective property tax rates

The following table ranks Madison County communities by their median effective property tax rate, calculated using sales and property tax data from 2018.

City

Jan - June 2018 Sales

Jan - June 2018 Median Price

Median tax

Effective tax rate

East Alton

39

$40,000

$1,616

4.04%

Madison

16

$20,250

$716

3.53%

Pontoon Beach

19

$60,000

$2,040

3.40%

Highland

54

$106,000

$3,377

3.19%

Hamel

3

$125,000

$3,647

2.92%

Bethalto

58

$88,450

$2,466

2.79%

Holiday Shores

16

$149,250

$3,913

2.62%

Alhambra

6

$112,000

$2,925

2.61%

Granite City

179

$57,000

$1,487

2.61%

Wood River

44

$60,500

$1,574

2.60%

Troy

51

$152,000

$3,873

2.55%

Hartford

10

$31,000

$789

2.55%

Alton

171

$63,500

$1,537

2.42%

Glen Carbon

65

$192,000

$4,494

2.34%

South Roxana

7

$42,500

$893

2.10%

Moro

11

$132,500

$2,777

2.10%

Edwardsville

114

$192,750

$4,028

2.09%

Godfrey

106

$133,500

$2,740

2.05%

Collinsville

108

$110,500

$2,262

2.05%

Maryville

33

$206,000

$4,130

2.01%

Rosewood Heights

24

$84,500

$1,661

1.97%

Worden

6

$146,000

$2,866

1.96%

Cedar Park

5

$87,500

$1,646

1.88%

Mitchell

5

$71,500

$1,210

1.69%

Marine

6

$187,750

$3,073

1.64%

Roxana

9

$76,000

$1,101

1.45%

Source: Blockshopper.com; Madison County Assessment Office

Madison County communities with the highest median home price

The following table ranks Madison County communities by their median sale price, which is calculated using prices of properties sold during the first six months of 2018.

City

Jan - June 2017 Sales

Jan - June 2017 Median Price

Jan - June 2018 Sales

Jan - June 2018 Median Price

Change

South Roxana

11

$27,000

7

$42,500

57.41%

Marine

7

$125,000

6

$187,750

50.20%

Moro

9

$108,500

11

$132,500

22.12%

Roxana

13

$62,490

9

$76,000

21.62%

Edwardsville

231

$164,900

114

$192,750

16.89%

Worden

23

$125,000

6

$146,000

16.80%

Godfrey

174

$114,950

106

$133,500

16.14%

Madison

13

$18,000

16

$20,250

12.50%

Alhambra

3

$100,000

6

$112,000

12.00%

Granite City

343

$52,000

179

$57,000

9.62%

Cedar Park

5

$82,500

5

$87,500

6.06%

Maryville

55

$198,000

33

$206,000

4.04%

Alton

226

$63,000

171

$63,500

0.79%

Collinsville

214

$110,000

108

$110,500

0.45%

Glen Carbon

132

$195,000

65

$192,000

-1.54%

Mitchell

4

$74,500

5

$71,500

-4.03%

Rosewood Heights

41

$90,000

24

$84,500

-6.11%

Hamel

10

$133,750

3

$125,000

-6.54%

Troy

111

$163,000

51

$152,000

-6.75%

Wood River

105

$66,000

44

$60,500

-8.33%

Holiday Shores

29

$165,900

16

$149,250

-10.04%

Highland

112

$124,500

54

$106,000

-14.86%

Bethalto

96

$109,450

58

$88,450

-19.19%

Hartford

9

$41,500

10

$31,000

-25.30%

Pontoon Beach

33

$92,000

19

$60,000

-34.78%

East Alton

63

$62,000

39

$40,000

-35.48%

Source: Blockshopper.com; Madison County Recorder

 

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