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Saturday, April 20, 2024

Analysis: Fairmont City pays property taxes two times nations average

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The property at 3150 N 60th Street in Fairmont City has a property tax bill of more than $1,500. | Zillow.com

The property at 3150 N 60th Street in Fairmont City has a property tax bill of more than $1,500. | Zillow.com

Property owners in Fairmont City paid nearly 3 percent of the value of their homes in taxes last year. That’s more than two times the national average, according to an LGIS analysis of real estate sales data in St. Clair County from Jan 1. to June 30.

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

Fairmont City, population 2,482, recorded a median sale price of $32,500, based on data from the 6 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of $959, according county tax data from the St. Clair County Assessment Office.

That’s 2.95 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 $32,500 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $289, or more than $700 less per year.

The analysis, including 19 St. Clair County communities with more than five sales since January, shows homeowners in Cahokia, East St. Louis, and Centreville pay the highest tax rates, each clocking in with effective rates of 4 percent or higher. 

Fairmont and New Athens have rates higher than 2.75 percent.

Rates in Millstadt and Belleville 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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St. Clair County communities paying the highest effective property tax rates

The following table ranks St. Clair 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

  2016 Median tax    Effective  

   tax rate

Cahokia107$27,000$1,4715.45%
East St. Louis34$12,000$5434.53%
Centreville15$16,000$6544.09%
Fairmont City6$32,500$9592.95%
New Athens11$80,000$2,3382.92%
Millstadt 29$151,500$4,1202.72%
Belleville 435$97,000$2,4272.50%
Swansea80$152,500$3,6642.40%
Caseyville 27$75,000$1,7982.40%
Lebanon 23$117,000$2,7812.38%
O’Fallon207$185,000$4,3552.35%
Marissa9$59,000$1,3792.34%
Freeburg25$162,000$3,7302.30%
Dupo33$85,000$1,9302.27%
Smithton21$205,000$4,5572.22%
Fairview Heights  119$112,000$2,4872.22%
Collinsville 12$96,250$2,1322.22%
Mascoutah 56$154,500$3,3962.20%
Shiloh 64$202,000$4,1102.03%
Source: Blockshopper.com; St. Clair County Assessment Office

St. Clair County communities with the highest median home price

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

CityJan - June 2017 SalesJan - June 2017 Median PriceJan - June 2018 SalesJan - June 2018 Median PriceChange
Centreville8$7,50015$16,000113.33%
Marissa13$39,0009$59,00051.28%
New Athens17$55,00011$80,00045.45%
Freeburg 25$125,00025$162,00029.60%
Cahokia 164$22,000107$27,00022.73%
Caseyville 44$62,50027$75,00020.00%
Smithton40$173,75021$205,00017.99%
Belleville 584$89,000435$97,0008.99%
Millstadt 37$141,00029$151,5007.45%
East

St. Louis 

47$11,50034$12,0004.35%
Shiloh 95$194,50064$202,0003.86%
Dupo 17$86,00033$85,000-1.16%
Fairview Heights 146$113,750119$112,000-1.54%
O’Fallon278$190,000207$185,000-2.63%
Swansea104$158,25080$152,500-3.63%
Mascoutah 89$163,50056$154,500-5.50%
Lebanon37$127,50023$117,000-8.24%
Collinsville 40$115,75012$96,250-16.85%
Fairmont City 1$85,0006$32,500-61.76%
Source: Blockshopper.com; St. Clair County Recorder

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