Understanding Your Real Estate Taxes: Assessments, Appeals, and Exemptions
Real estate taxes are one of the biggest expenses for homeowners, yet many people don’t fully understand how their property taxes are assessed—or how to ensure they’re not overpaying. Whether you’re a new homeowner or have owned your property for years, taking the time to review your tax assessment and any
exemptions you qualify for could save you hundreds, if not thousands, of dollars.
You can look up your property by county. If you own a home in Madison or St Clair County click on the link below and simply put in your name or address.
Madison County Property Tax Inquiry (click)
St Clair County Property Tax Inquiry (click)
How Are Property Taxes Assessed?
Your real estate taxes are based on the assessed value of your property, which is determined by your local county assessor’s office. The assessor evaluates your home’s market value, considering factors like recent sales of comparable properties, home improvements, and overall market trends.
Once your home’s assessed value is determined, it is multiplied by the local tax rate to calculate your total tax bill. The problem? Assessments aren’t always accurate. If your home has been overvalued, you may be paying more in property taxes than you should.
How to Check and Appeal Your Assessment
Most counties allow homeowners to review their property assessments online. If you believe your assessment is too high, you have the right to
appeal. This process typically involves submitting documentation—such as recent appraisals or comparable property values—to prove that your home is worth less than what the county has assessed.
You can visit your county assessor’s office to check your assessment and learn about the appeal process. Be mindful of deadlines; most counties have strict timeframes for filing an appeal.
The Importance of Property Tax Exemptions
Many homeowners miss out on valuable tax savings simply because they don’t check or apply for the exemptions they qualify for. Common property tax
exemptions include:
- Homestead Exemption (Owner Occupied) – Reduces the taxable value of your primary residence.
- Senior Citizen Exemption – Offers tax relief for homeowners over a certain age.
- Low-Income Senior Citizens Assessment Freeze Homestead Exemption - The exemption needs to be applied for every year by the 31st of July.
- Veteran with Disabilities Exemptions – Provides tax reductions for disabled individuals and veterans.
- NEW FOR 2024!!! - IF YOU ARE A WWII VETERAN, YOU ARE ELIGIBLE TO BE TAX EXEMPT UNDER PUBLIC ACT 103-0596.
Requirement: Certificate of Discharge or Release letter - Agricultural or Conservation Exemptions – Benefits for those using their land for farming or conservation purposes.
To check your exemptions, visit your county assessor’s website or call their office. Many exemptions require you to apply or renew them periodically.
If you don’t see an exemption applied to your tax record, you may need to submit the necessary paperwork to receive the benefit.
Madison County Assessor's Office
St Clair County Assessor's Office
Final Thoughts
Property taxes can be a significant expense, but understanding how they’re assessed and making sure you’re taking advantage of all available
exemptions can make a big difference in your annual costs. Take the time to review your assessment, appeal if necessary, and ensure all eligible exemptions
are applied. A few simple steps could result in substantial savings.
Need more information? Visit your county assessor’s office to check your property’s assessment and available exemptions.
By staying informed, you can ensure you’re not paying more than you should on your property taxes. Have questions or an experience to share?
Give Jean, Matt or Christin a call. We'd be happy to do a Market Study on your home to help you determine if appealing your real estate taxes is worth it.