If you live in Newton Illinois your property taxes are 63.59% as
much as a 30 year loan payment.
Take the yearly amount that you are paying in property tax divide it by 12 to get the monthly amount.
Then take the fair cash value from your property tax bill x 80% to get the typical amount you would borrow to buy
the house then go to a mortage rate calculator and find what the payments for a 30 year loan would be.
Then you figure how much the monthly property tax bill is as a precentage of the loan payment.
Based on 4.5% interest rate 30 year loan.
Compare your monthly property tax amount to a 30 year loan payment as a precentage.
" Fair cash value " 80% Loan Value" tax rate yearly tax bill monthly taxes loan payment tax as % of loan payment
Newton in Town $130,000.00 $104,000.00 10.772450 $4,021.71 $335.14 $527 63.95%
Jasper County outside city $130,000.00 $104,000.00 8.474730 $3,163.90 $263.66 $527 50.03%
Effingham in City $130,000.00 $104,000.00 7.326400 $2,735.19 $227.93 $527 43.25%
Dieterich in Village $130,000.00 $104,000.00 7.620000 $2,844.80 $237.07 $527 44.98%
Effingham County outside city $130,000.00 $104,000.00 5.330000 $1,989.87 $165.82 $527 31.47%