Worden, Illinois Property Taxes
The median property tax rate in Worden, IL is 1.96%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Worden at $228,333, the typical annual property tax bill reaches $4,476, exceeding the national median of $2,690. Property taxes in Worden 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 Worden'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 Worden 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
Worden, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$4,475
$4,373
Ownwell’s Worden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Worden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Worden 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 Worden, Illinois
Property taxes in Worden, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Worden is 1.96%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Worden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Worden 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 Worden's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62097 zip code has the highest median property tax rate of 1.96%, while the same zip code also has the lowest median tax rate of 1.96%. Understanding how these cities compare with Worden provides valuable insights into the varying tax landscape across Macoupin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Worden Tax Rate
1.96%
Average Macoupin County Tax Rate
1.93%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Worden, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62097 | 1.96% | 1.96% | 1.96% | 1.96% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Worden, Illinois
In Worden, 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 Macoupin County Assessor's Office 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 Worden, 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 Worden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 62097, both at $4,476.
Average Worden Assessed Value
$228,333
Average Macoupin County Assessed Value
$80,204
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Worden, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62097 | $228,333 | $228,333 | $228,333 | $228,333 | $228,333 |
Source: Ownwell
Property Tax Bills Across Worden, Illinois
Property tax bills in Worden, located in Macoupin County, IL, are determined by assessing the value of a property and applying the local tax rate to that value. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. In Worden, the median home price is $228,333. The property tax rate is then applied to this assessed value to calculate the annual tax bill. Local government budgets, school funding, and public services are significant factors that influence the property tax rate. In Worden, the median property tax bill is $4,476, which is considerably higher than the national median property tax rate of 0.99%. This higher tax rate affects homeowners by increasing their annual expenses, making it essential for residents to budget accordingly. Understanding how these taxes are calculated can help homeowners in Worden better plan for their financial obligations while also appreciating the benefits funded by their contributions.
Average Worden Tax Bill
$4,476
Average Macoupin County Tax Bill
$1,490
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Worden, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62097 | $4,476 | $4,476 | $4,476 | $4,476 | $4,476 |
Source: Ownwell