Hartsburg, Illinois Property Taxes
The median property tax rate in Hartsburg, IL is 2.44%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Hartsburg at $307,935, the typical annual property tax bill reaches $8,148, far exceeding the national median of $2,690. Property taxes in Hartsburg are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hartsburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hartsburg or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hartsburg, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.44%
Estimate Property Tax Bill
$7,514
$7,342
Ownwell’s Hartsburg Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hartsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hartsburg to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hartsburg, Illinois
Property taxes in Hartsburg, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hartsburg is 2.44%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Hartsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hartsburg estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Hartsburg's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62643 has both the highest and lowest median property tax rate of 2.44%. Understanding how these cities compare with Hartsburg provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hartsburg Tax Rate
2.44%
Average Logan County Tax Rate
2.39%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hartsburg, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62643 | 1.68% | 2.23% | 2.44% | 2.56% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Hartsburg, Illinois
In Hartsburg, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Logan County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Hartsburg, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Hartsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Hartsburg is $8,148 in the 62643 zip code, while the lowest is also $8,148 in the same zip code.
Average Hartsburg Assessed Value
$307,935
Average Logan County Assessed Value
$165,735
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hartsburg, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62643 | $62,979 | $131,145 | $307,935 | $384,622 | $423,564 |
Source: Ownwell
Property Tax Bills Across Hartsburg, Illinois
In Hartsburg, located in Logan County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is typically a percentage of the property's market value. For instance, if a home in Hartsburg has a median home price of $307,935, the assessed value will be a fraction of this amount, depending on local assessment rates. Once the assessed value is determined, local tax rates are applied. These rates can vary widely within the region. Homeowners in Hartsburg can expect their tax bills to fall within a range, with the 25th percentile at $3,463 and the 75th percentile reaching $9,698. At the 90th percentile, tax bills can go up to $10,434. These property taxes fund essential public services such as schools, emergency services, and infrastructure. As a result, the amount homeowners pay in property taxes directly impacts the quality of these services in their community. With the national median property tax rate at 0.99%, Hartsburg's rates reflect the local economic and service needs.
Average Hartsburg Tax Bill
$8,148
Average Logan County Tax Bill
$4,059
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Hartsburg, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62643 | $1,107 | $3,463 | $8,148 | $9,698 | $10,434 |
Source: Ownwell